Santa Cruz County Bank Moving to 75 River Street, Anticipates Opening in the Summer
Santa Cruz County Bank announced the signing of a 20-year lease for its future new headquarters at 75 River Street in downtown Santa Cruz. Built in 1966 as a branch of Salinas Valley Savings and Loan, the building at 75 River Street has a long history as a location for financial institutions. This location is a highly visible gateway to downtown Santa Cruz, at the corner of River and Water Streets.
Coast Commercial Bank last occupied the 14,000-square-foot building until Wells Fargo acquired the bank and the office shuttered in 2008. In 2011 Occupy Santa Cruz demonstrators barricaded themselves inside the empty building protesting Wall Street investors and, according to police, caused $30,000 in damages. The building was not leasable until Wells Fargo’s lease expired.
David Heald, Santa Cruz County Bank’s president and CEO had his eye on 75 River St. since the bank’s founding in 2004. With the locally owned bank’s 10-year lease on Front St. expiring in mid-2018, Heald inquired again and secured a 20-year lease.
“We’ve grown enough so this makes sense,” said Heald.
Santa Cruz County Bank plans to combine and relocate two of its Santa Cruz banking operations into the new headquarters.
Approximately 44 employees who currently work in the Bank’s downtown Santa Cruz branch and Administrative offices will move into the new, 14,000 plus square foot location. The building at 75 River Street will undergo modernization and tenant improvements prior to occupancy, which is anticipated in summer of 2018.
Heald commented, “The signing of a new lease to occupy 75 River Street signifies our commitment to serve Santa Cruz County for the long term. The new location will provide many new conveniences for our existing clients and those who join us in the future, along with better parking and visibility. We take pride in serving our clients, and this move to a cornerstone building in downtown Santa Cruz symbolizes the value we place in the community we serve.”
The owners of 75 River St. are a partnership of the Swenson construction company and the Malek family.
Santa Cruz County Bank, founded in 2004, is a locally owned and operated community bank with offices located in Aptos, Capitola, Santa Cruz, Scotts Valley and Watsonville. For the past nine years, the Bank’s SBA Department has been recognized as a top SBA lender in Santa Cruz County. Santa Cruz County Bank is a top USDA lender in the state of California.
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Santa Cruz County Bank stock is publicly traded on the OTC marketplace under the stock symbol SCZC. For more information about Santa Cruz County Bank, please visit our website www.sccountybank.com.