In early 2004 several local Chico business people recognized the service void that had been created when three local banks were purchased by larger financial institutions, some headquartered out of state. These mergers created an opportunity for a new locally owned and managed, true community bank run by Directors, Shareholders, Officers and Staff that live in the community. As their idea spread, it was met with overwhelming local approval. The Organizing Group grew to 28 local business and professional people, and the new Community Bank began to take form.
Applications were submitted to state and national banking authorities, committees established, consultants hired, business plans finalized and a location identified. By the third quarter of 2005 all three executive officers of the new bank were on board and Board officers elected. Construction of the new building soon began on Cohasset Road in Chico. The applications were approved by the banking regulators in December of 2005 and the initial stock offering opened in January to a tremendous response. In just 13 business days investor dollars poured into the new Bank. The sale was closed with 406 local shareholders and $15.4 million in capital. On April 24, 2006 the Bank opened to its' Founders, Organizers and Directors, and on May 1, 2006 to the general public.
At Golden Valley Bank we pride ourselves on delivering an experience unlike any other. Take our commitment to customers, staff and community - the foundation of true community banking. It's our passion to help businesses grow, help make dreams a reality and better our local economy. We believe this passion for our community starts with our employees. Encouraging our staff to be involved in the organizations and non-profits who strive to make a difference allows them to connect, engage and better understand community needs. The power of community starts at home with our Golden Valley Bank family.
New employees are introduced to this idea by being assigned a paper to research and write their first week. The new employee is to meet with all employees at the bank, ask questions and ultimately write what they think GVB is all about and how each employee serves our customers. The new employee describes our culture and explains our processes gaining insight as to why we do business this way. Below is a paragraph from Amber Dowdy, Client Services Representative explaining a bit about what she learned during her first week. We think it says a lot!
"If you talk to the employees of GVB, they'll tell you the most important thing is to always give absolutely outstanding customer service and find a way to say YES! GVB makes it a priority to go above and beyond for all their customers and to personalize the banking experience-like it used to be in the good ole days! One of the ways that GVB achieves this is by educating, training and empowering the people who work here. The people are trusted and empowered to make the decisions in order to better serve the customer."
Our mission is to create a truly unique, local banking experience for our community, customers, employees and shareholders. We are committed to Chico's overall quality of life, supporting local organizations and sponsoring community wide events.