RankingBanking 25 - Flipbook - Page 11
9
“We purposefully did not slap billboards up on the freeway
advertising, ‘Come to us, and we’ll give you 4.75% on your money
market account.’ You can grow like crazy if you want to do that,
but your margins are not going to be the same.”
Krista Snelling, West Coast Community Bancorp
carry a deposit relationship with them.
location in Cupertino. But it’s growing. “When you
Monterey and Santa Cruz are both affluent
hire the right people who have those relationships,
communities, with Monterey well-known for its
there’s a lot of trust that team has built over the
golf courses and Santa Cruz for its beaches. Those
years in their careers,” she says. “People bank
attractions bring tourists. “We have the Santa
with the people that they like and trust.”
Cruz beach boardwalk, and it’s so beautiful here,”
Snelling says.
Snelling joined West Coast Community four
years ago as CEO; she’d previously been chief
The bank also enjoys close ties to local agricul-
operating officer and CFO at Five Star Bancorp,
ture. “The bulk of the lettuce and the strawberries
another top performer in this year’s ranking. Ng
that you eat,” she says, “come from Santa Cruz
has led East West for decades. But both banks
County and down into Salinas,” in Monterey Coun-
have leveraged their markets to drive sustainable
ty. She says so far, ag clients aren’t suffering much
and conservative growth, and both executives say
from the recent tariff war and immigration raids.
they’ve turned away deals that weren’t in the best
“All this political uncertainty is tough, but we hav-
long-term interests of the bank.
en’t seen issues come up in our ag clients, yet.”
“We had made the decision to prioritize profit-
West Coast Community has also seen a lot of
ability over growth,” says Snelling. “We purpose-
growth from Silicon Valley, accounting for almost
fully did not slap billboards up on the freeway ad-
half of the bank’s new deposits in the first quarter.
vertising, ‘Come to us, and we’ll give you 4.75%
That was accomplished by hiring a team focused
on your money market account.’ You can grow like
on C&I lending. That doesn’t mean West Coast
crazy if you want to do that, but your margins are
Community is banking tech companies or venture
not going to be the same.”
capital firms; it’s instead banking the businesses
that work with those sectors. Still, compared to
Emily McCormick is vice president of editorial & re-
the bank’s home markets, “it’s more competitive,”
search for Bank Director.
she explains. The bank holds less than 1% of Santa Clara County’s deposits, where the bank has a
