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New Resource Bank Expands into Colorado

SAN FRANCISCO, June 01, 2016 (GLOBE NEWSWIRE) -- New Resource Bank (OTC Link LLC:NWBN) announced it has expanded into the Colorado market by opening a loan production office in Boulder.

New Resource Bank is a B Corp bank serving sustainable businesses and nonprofits. The Boulder office is the bank’s first location outside its headquarters in San Francisco. Colorado was the clear choice for New Resource because of the high concentration of sustainable businesses within the bank’s target markets, including organic food & natural products and clean energy. New Resource has a high level of expertise serving businesses in these sectors as well as supporting other sustainable businesses, green builders and nonprofits. The bank expects to serve the Colorado region with loans from its Boulder location in the Highland Building.

“We chose Boulder as the location for our second office because of the high values alignment between the Colorado market and our mission,” said Vince Siciliano, President and CEO of New Resource Bank. “Over the past 10 years, we have built a deep expertise in lending to sustainable businesses. We look forward to successfully serving the sustainable business community in Colorado.”

The bank’s first hire in Colorado is Susan Graf, who will serve as the Regional Business Development Manager. Graf has a long career in sustainable business and the Boulder community, serving for eight years as head of the Boulder Chamber of Commerce and most recently as VP of Finance and Administration for Bhakti Chai.

“We are pleased to welcome Susan Graf onto the New Resource Bank team. She will play an integral role in growing the bank’s presence in Colorado,” said Siciliano.

New Resource Bank is a successful example of a different kind of bank that is committed to the triple bottom line of people, planet and prosperity. Through the types of companies the bank funds, New Resource Bank fights climate change, supports more sustainable food systems and better health, helps schools expand, sustains the vital work of nonprofits and grows socially and environmentally responsible small businesses that are providing living wage jobs. Banks have a major role to play in building a more sustainable economy as they have the power and capital to decide what projects and organizations are financed. New Resource Bank is proud to use that power for good.

“New Resource Bank was founded 10 years ago with a very ambitious mission — to change the way we think about money and banking,” explained Mark A. Finser, chairman of the New Resource Bank board. “Expanding into Colorado is a key marker for us on the road to scale our bank into a more formidable force in the finance world. We look forward to bringing our mission to Colorado and connecting with the sustainable business community at our launch party on June 23.”

About New Resource Bank

New Resource Bank (https://www.newresourcebank.com/) is a triple-bottom-line bank serving values-driven businesses and nonprofits that are building a more sustainable world. We see money as an agent of positive social, environmental and economic change. We use banking to transform the economy into one that serves all people and the planet. We lend to organizations that benefit our communities and preserve our planet by putting deposits to work for good.

This press release contains forward-looking statements such as statements about certain expectations and projections. Forward-looking statements are based on currently available information, are not guarantees of future performance and are subject to numerous risks and uncertainties. Such risks and uncertainties may include, but are not necessarily limited to, fluctuations in interest rates; fluctuations in asset prices, including real estate; inflation; changes in laws or government regulations or policies; general economic conditions, including the real estate market in California; the adequacy of the bank’s allowance for loan losses; and other factors beyond the bank’s control. Such risks and uncertainties could cause results for subsequent interim periods or for entire years to differ materially from those indicated. Readers should not place undue reliance on forward-looking statements, which reflect management’s view only as of the date of this press release. The bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.

Media contact: Vince Siciliano, President and CEO 415.995.8170 vsiciliano@newresourcebank.com

Source:New Resource Bank