The Bank of Rio Vista welcomed Virginia Varela, president and chief executive officer (CEO), to the office and the community in Dec. Varela is the first woman president in the bank’s history, which dates back to 1904, but will be working alongside Celia McCormack, chairman of the board of directors, and Jeanne McCormack, vice chair. She will be taking the place of longtime chief executive Tim Kubli.
“I am excited about joining Bank of Rio Vista. This is the right opportunity in a challenging time. There are great opportunities right now for a true community bank such as Bank of Rio Vista to attract customers tired of the uncertainty at ‘mega- money focused banks’ and banks that are constantly changing hands,” said Varela. “Being part of a dependable, straightforward community bank is exciting.”
Varela moved to Rio Vista from San Francisco, where she worked for the Federal Reserve Bank of San Francisco, OTS under the Treasury Department, and the Federal Home Loan Bank of San Francisco. She was the president and chief operating officer for a community bank in central Calf. prior to her San Francisco endeavors.
“Bank of Rio Vista has a reputation for exceptional customer service and strong ties to the local community,” said Varela. “I will stay the course of true community banking in spite of economic turbulence. Ultimately, management will be judged by performance and commitment. I am inspired because I feel strongly that our staff is ready for the challenge.”
Both bank employees and residents have voiced their support due to Varela’s impressive resume. According to Susan Dorris, Varela “brings a unique combination of regulatory and private banking experience to Rio Vista.”
Varela will be responsible for Rio Vista’s three branches, which include Rio Vista, Walnut Grove and Valley Springs. The three are valued at $170,000,000 in assets. Currently the Bank of Rio Vista employs 43, and serves the larger Delta community.
The Bank of Rio Vista is locally owned and operated since 1904, making its presence both traditional and reliable in the small Delta town. Originally the bank was founded to serve the growing agricultural needs of the Sacramento Delta. Today, Bank of Rio Vista serves central Calif., from the river to the foothills.
Having a dominant presence in the community has proven beneficial for the business and its customers throughout the years. Their motto reads, “As a Community Member we strive to support the needs of your community and banking services, the way they ought to be.”
For more information see: www.bankofriovista.net