Folsom Lake Bank opens after raising $15.9 million in capital offering

Folsom Lake Bank opened for business on April 2 at 905 Sutter Street in historic Folsom.The bank closed its capital offering March 21, after raising $15.9 million in capital.David J. West, chairman of the board, said, "With over 400 shareholders, we are delighted and gratified by the strong support and confidence shown by the local community."Robert Flautt will serve as president and CEO of the bank. He has a 33-year career in banking, including 19 years in senior management positions. The past 10 years have been spent in senior credit positions with commercial banks in the Sacramento area.Flautt spent the majority of his banking career with First Interstate Bank, joining the bank in 1976 and remaining there for 19 years until Wells Fargo acquired the bank.Flautt was also senor vice president at Roseville 1st National Bank, senior vice president and consumer banking manager at River City Bank and senior vice president and business banking center manager at Bank of Sacramento.He earned a B.A. degree in political science from the University of California, Santa Barbara and is also a graduate of the Pacific Coast Banking School at the University of Washington.In addition to serving as chair, West was the leader of the original organizing group for Folsom Lake Bank.A 37-year banking veteran, West is a 16-year resident of Folsom and has been active in civic and community affairs.Prior to moving to Folsom to open First Interstate Bank's branch in 1991, he was executive vice president at Glendale Federal Bank. West was the founding chair of the Folsom Economic Development Corporation as well as a former president of the Folsom Chamber of Commerce.He earned a B.A. degree in history form California Western University and graduated from the Northwest University Mortgage Banking School and the Indiana University Graduate School of Savings and Loan.Both West and Flautt are members of Rotary, serving as club presidents.The organizing group for the bank was formed in May 2006. The application for a state banking charter and FDIC insurance was submitted on Aug. 31 and the bank received conditional approval to organize on Nov. 2.More than 600 people attended three shareholder meetings held in January in Folsom, Granite Bay and El Dorado Hills. The almost $16 million in capital is spread across 406 shareholders primarily from those communities.In addition to Flautt, other bank officers include Jack Olson as EVP and CFO; Blaine Lauhon as SVP and Chief Credit Officer; Gene Zundel as SVP of Real Estate Lending; Shannon McLoughlin as VP and Corporate Secretary; Barbara Mayberry as VP of Note Operations; Doreen Stevens as VP of Commercial Lending; Jessica Devereaux as VP of Operations; Dan Taylor as VP and Controller; Sharon Marshall as AVP and Personal Banking Officer; Janice Muncer as Loan Analyst; and Carrie Awram as Customer Service representative.The 12-person board is comprised of local residents, including Jerry Bernau, Claudia Cummings, David Doherty, Jeff Dutra, Dr. Lynn Judd, John Messner, Bob Miller, Carrie Reginato, Don Reid and Paul Reiken.Folsom Lake Bank is a full service commercial bank offering a complete range of services to consumers and businesses. The bank will focus on small business clients, professionals and individuals in the communities surrounding Folsom Lake.The bank occupies 5,376 square feet of new ground floor space at the corner of Sutter and Decatur in historic Folsom.The Sutter Court building is the first of several new buildings planned for Folsom's railroad block. The building has first floor retail, including the bank, commercial office space and residential lofts on the second floor.A grand opening is scheduled for the second week in May.