Desert Community CEO plays pint-size pitchman

By Nicole Lucht

Friday, Aug. 14, 2009 | 3 a.m.

If a half-foot tall man offering banking services has set up shop under your bed, you might have just spotted Desert Community Bank CEO Jim Howard.

The bank has rolled out short video ads on its Web site, where Howard, in what may be his film premiere, is encouraging wary (and a bit overly enthusiastic) banking customers to let him manage their money.

There are three ads, and there may be more to come with different story lines, said Larry Moulton, the bank’s marketing director.

Desert doesn’t have plans yet to air the ads on TV, instead banking on its Web site and social networking sites such as YouTube to get its message across.

Don’t believe Howard managed to shrink? Watch it at desertcommunity.com.

Any day now?

It’s August and Community Bancorp has yet to file last year’s annual report or the past two quarterly reports.

The Las Vegas-based company, parent of Community Bank of Nevada and Community Bank of Arizona, was hit significantly by the falling commercial market and had foreclosed on properties in that sector.

The Federal Reserve Bank of San Francisco has ordered that the bank improve its capital position, a move that requires investor and consumer faith. The bank agreed to the terms and said in a statement that it is taking steps to bolster it.

There has been a bit of progress for the bank lately, however.

It has filed its financial report with the Federal Deposit Insurance Corp., and it has been following the requirements outlined in an agreement signed with the Federal Reserve Bank.

The report revealed the bank “is no longer adequately capitalized.” The bank also amended its loan-loss allowance by increasing it to $60 million for last year’s fourth quarter and this year’s first quarter.

Now that the bank has this most recent amendment out of the way, the company is preparing its annual report and first two quarterly reports.

But behind all the legalese of the release, the bank appeared optimistic.

“The strategic plan and capital plan submitted to the regulators as part of the response to the written agreement define a process that would satisfy the capital requirements under the various agreements stated herein,” Community Bank of Nevada CEO Larry Scott said in the release. “The directors, management and employees are committed to working through these challenges and moving forward. While the continuing deterioration of the economy remains the primary challenge for the banking industry, we believe firmly in our markets. They have been strong in the past and will be so in the future. Community Bank of Nevada played a significant role in the growth of these markets and we will do so in the future.”

I asked to speak with Scott or parent company CEO Ed Jamison but was told they weren’t taking questions about the release at this time.

Good news: Wells Fargo hiring

Although many businesses are laying off workers, Wells Fargo Bank is hiring 100 tellers and personal bankers in Southern Nevada as it adds supplemental staff to its branches.

(An interesting note: In the teller job description, one of the duties is “catching up on (customers’) life events” — and I just thought they were being nice!)

Go to wellsfargo.com/careers for more information.

Nevada State fighting fraud

Nevada State Bank has set up a Web site to help small businesses keep crooks at bay.

The bank teamed up with Frank Abagnale of the film “Catch Me If You Can” fame to develop a fraud prevention system for businesses with information on employee theft, check fraud and how to spot counterfeit money.

Go to nsbank.com/fightfraud for more information.

Banks take hits from regulators

Colonial Bank’s parent, Colonial Bancorp, received a cease-and-desist order from the Federal Reserve and Alabama’s bank regulator to address its capital, liquidity and allowance for loan losses.

Colonial Bank’s Nevada operation is in the process of being sold to Global Consumer Acquisition Corp., including its 12 branches in Las Vegas.

• • •

The parent of Imperial Capital Bank has been ordered by California regulators to submit a capital improvement plan within a month.

A bank’s capital is a basic requirement of a bank’s ability to lend as well as remain solvent.

Imperial Capital Bancorp, based in La Jolla, Calif., has one Las Vegas branch.

Nicole Lucht covers health care, workplace, energy and banking issues for In Business Las Vegas and its sister publication, the Las Vegas Sun. She can be reached at 259-8832 or at [email protected].