Monthly Archives: February 2017

Welcome, Christina Lynn!

christina-lynnWe’d like to extend a big welcome to Christina Lynn, who has joined Bank of Tucson as a financial service representative.

Christina has had her eye on our bank for a while now. She heard great things about working here from a friend and former co-worker, so when she saw an opening posted, she wasted no time in submitting her qualifications.

Christina’s past experience working as an assistant branch manager for a credit union gives her a great foundation for helping Bank of Tucson clients open new accounts. At the credit union, Christina focused mostly on opening personal bank accounts, so she’s enjoying shifting her focus to business accounts now.

Christina is a Tucson native and a graduate of Rincon High School (go Rangers!), and she has supported our community by volunteering with several local nonprofits, including Children’s Miracle Network, Community Food Bank of Southern Arizona and the Susan G. Komen Race for the Cure.

She loves to camp and fish with her husband and two teenage children, and she enjoys crocheting when she can carve out some time for herself.

We hope you get the chance to meet Christina and find out for yourself why she is a great addition to our team.

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Nonprofit Loan Fund of Tucson & Southern Arizona – A Creative Financial Solution

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NPLF borrower True Concord recording GRAMMY winning album “Far in the Heavens”

We are proud to be a founding member (through our president, Mike Hannley) of the Nonprofit Loan Fundscreen-shot-2016-09-13-at-11-07-51-am (NPLF) of Tucson and Southern Arizona. Established in 2014, NPLF has made nearly $1.3 million in loans to local nonprofits to help strengthen operations, bridge cash-flow gaps, further their initiatives and make them overall financially sustainable.

Some of the many worthy recipients of NPLF loans include YWCA of Southern Arizona, Southwest Folklife Alliance, Esperanza En Escalante, Tucson Botanical Gardens and International Sonoran Desert Alliance. Loans range from $10,000 to $200,000 for up to five years.

NPLF’s liquidity is funded by a variety of investors which lend money to NPLF for a term of up to 10 years. Those investors include public agencies, nonprofits, individuals and several private foundations.

Investors receive two percent interest, while NPLF lends money out to local nonprofits at approximately eight percent. Since its inception, NPLF has grown its loan pool from $450,000 and three investors to nine investors and $850,000, with an additional $200,000 pending.

“This system is win-win,” says Don Jenks, Executive Vice President and Regional Credit Administrator for Bank of Tucson and NPLF board chair. “Investors make a return on their investment while also helping many wonderful nonprofit organizations make a difference in our community.”

Each loan recipient is thoroughly vetted, and the loan is structured to meet the unique needs of the recipient organization.

“With grant and donor funding, that capital is often restricted to certain uses,” said Jenks. “A NPLF loan gives the nonprofit the leeway to use the loan funds for general operations or other important priorities.”

For True Concord Voices & Orchestra,screen-shot-2016-09-13-at-11-07-51-am it was a cash flow issue that brought them to NPLF. In the fall of 2015, True Concord made its New York debut at Lincoln Center, a performance that hit number five on the Billboard charts. The performance was swiftly followed by a Grammy nomination for a composition performed on the group’s first internationally released album “Far in the Heavens.”screen-shot-2016-09-13-at-11-07-51-am While True Concord maintains a balanced budget, cash flow was not adequate to fund the travel requirements that arose from these honors. Fortunately, NPLF helped bridge the gap.

The NPLF board continues to recruit additional investors as well as collaborate with other lenders in Arizona to provide options for local nonprofits. Board members are also pursuing grants to expand the financial education programs NPLF offers to area nonprofits — education that will help them achieve long-term financial stability. Most recently, NPLF has applied for Community Development Financial Institution (CDFI) certification, which will provide access to federal funding and partnerships with local and national financial institutions. Our bank is proud to also provide some of the financial support for NPLF’s operations.

Launching NPLF was made possible through the joint efforts of the Community Foundation of Southern Arizonascreen-shot-2016-09-13-at-11-07-51-am (CFSA), and Diamond Family Philanthropies.

For more information about NPLF, visit http://nonprofit-loans.org/screen-shot-2016-09-13-at-11-07-51-am

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screen-shot-2016-09-13-at-11-07-51-am Linking to Non-Bank of Tucson Websites

This icon appears next to every link that directs to a third party website not affiliated with Bank of Tucson. Please be advised that if you click this link you will be taken to a website hosted by another party, where you will no longer be subject to, or under the protection of, the privacy and security policies of Bank of Tucson. We recommend that you review and evaluate the privacy and security policies of the site that you are entering. Bank of Tucson assumes no liability for the content, information, security, policies or transactions provided by these other sites.

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Roger M. Laverty Named President of Grandpoint Bank

grandpoint_rocky_laverty_993_cropPlease join us in welcoming the new president of Grandpoint Bank, (of which Bank of Tucson is a division) Roger M. “Rocky” Laverty. Rocky, a member of the Bank’s board of directors since its inception in 2010, has a distinguished business career, most recently serving as President and Chief Executive Officer of Farmer Bros. Co. He is also the former President and CEO of Smart & Final, Inc. and Diedrich Coffee, Inc., and he was a founding member and Chairman and CEO of Prime Advantage, Inc.

“Rocky is a remarkable businessman, and we are fortunate to have his leadership in guiding our bank’s growth across all of our markets,” says Don M. Griffith, Chairman and CEO of Grandpoint Capital, Inc., and Grandpoint Bank. “I’ve known Rocky for years, and his business acumen, his ability to identify and cultivate strategic growth opportunities and his track record of building successful businesses will be a tremendous benefit to Grandpoint.”

Rocky will remain on the bank’s board of directors.

“I’ve had the opportunity to be part of the bank’s growth as a member of the board,” says Rocky. “It is now exciting to be on the frontlines, working with an exceptionally talented group of regional executives and their teams. I’m looking forward to contributing the experience I’ve garnered over the course of my career to support the bank’s internal growth and develop new product strategies.”

Rocky is a member of the Board of Trustees for Children’s Bureauscreen-shot-2016-09-13-at-11-07-51-am and for the Jean Perkins Scholarship Foundation,screen-shot-2016-09-13-at-11-07-51-am which provides college scholarships to children of LA County Sheriff Deputies. He also serves on the board of the Jimmy Miller Memorial Foundation,screen-shot-2016-09-13-at-11-07-51-am which provides ocean therapy to wounded warriors and veterans as well as at-risk youth.

Rocky attended Stanford University and Stanford Law School.

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screen-shot-2016-09-13-at-11-07-51-am Linking to Non-Bank of Tucson Websites

This icon appears next to every link that directs to a third party website not affiliated with Bank of Tucson. Please be advised that if you click this link you will be taken to a website hosted by another party, where you will no longer be subject to, or under the protection of, the privacy and security policies of Bank of Tucson. We recommend that you review and evaluate the privacy and security policies of the site that you are entering. Bank of Tucson assumes no liability for the content, information, security, policies or transactions provided by these other sites.

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