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| Home > Investor Relations > Press Releases |
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| Release Date: June 05, 2008 |
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| Mission Oaks to Open Branches in Fallbrook, Lake Elsinore |
TEMECULA, Calif. – Mission Oaks National Bank, principal subsidiary of Mission Oaks Bancorp
(OTCBB:MOKB), plans to open two new full-service branches in 2008 on the fast-growing I-15 corridor of Inland Southern California..
The new offices will be located in Lake Elsinore and Fallbrook. When the expansion is completed, Mission Oaks will
have a network of five full-service branches that run from San Bernardino County in the north to northern San Diego
County in the south.
"Both locations represent wonderful expansion opportunities for Mission Oaks and its shareholders,"
said Robert Knogge, chairman of Mission Oaks’ board of directors."Ours will be the first community bank with
a focus on business to serve the fast-growing Lake Elsinore market and the Fallbrook branch will provide convenient
banking services to an estimated 50,000 residents of this northern San Diego County community."
Regulatory approval is pending for both branches.
The 4,000-square-foot Lake Elsinore branch will be located in a former real estate office at 600 Central Ave. in
the heart of the city’s commercial and industrial district. Lending and banking services will be provided through a
temporary office next door to the proposed branch until the new full-service branch opens this fall.
"We like Lake Elsinore because it is a dynamic market in an underserved banking area, particularly for
businesses," said Gary Votapka, Mission Oaks' president and chief executive. "From this convenient
location close to the I-15 Freeway, we will be able to serve customers from Murrieta to Corona."
The new full-service Fallbrook branch will be located inside the Major Market supermarket at 845 S. Main St.
Mission Oaks will take over the in-store branch after Citibank’s lease expires on June 29.
"If at all possible we’d like to be open the next day," said Votapka, a Fallbrook resident. "We
plan on being the local community bank there and offering a full suite of banking services ranging from loans
to Internet banking to cash management accounts."
In the meantime, Mission Oaks customer account specialists will be at the market Monday through Saturday to
help former Citibank customers keep their accounts in Fallbrook. The branch will have three teller windows
and a separate office for customer convenience and privacy.
Mission Oaks National Bank is a federally chartered community bank based in Temecula with assets of more
than $220 million that is committed to serving consumers and businesses in Southern California. The bank currently
offers personalized services and products through three full-service branch offices in Temecula and Ontario and
loan production offices in San Diego and Phoenix.
Mission Oaks Bancorp common stock is traded over the counter under the stock symbol MOKB.OB.
For more on Mission Oaks National Bank visit its Web site at missionoaksbank.com.
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