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New Bank Launched Today In Sonora

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A new bank is being launched in Sonora today. Prominent civic and business leaders of Sonora have come together to take the initial steps in organizing a state-chartered, federally insured banking corporation.

The Mother Lode Bank will be located at 172 West Stockton Road, Sonora, California, the former headquarters office of El Capitan National Bank.

The New Bank€™s CEO Peter Johnson says organizers have been working since September 2002 on the necessary preparations with the FDIC and the Department of Financial Institutions.

The organizers of the bank are currently the following individuals and entities: Anthony M. Benites, William J. Coffill, Gary P. Dambacher, Milton M. Dambacher, Bette M. Dambacher, Timothy J. Diestel, Arthur N. Donaldson, Patrick B. Greenwell, Frank M. Helm, Jr., Barry A. Hillman, H. Randolph Holder, A. Peter Johnson, Michael Q. Jones, Kenneth W. Keagy, Joyce E. Kelley, Jeffrey J. Kerns, Peter J. Kerns, Joseph W. Martin, Jr., Barbara Joyce Martin, Kate Powell Segerstrom, Carroll M. Sinclair, Raymond M. Suess, Jr., Irving J. Symons, Tuolumne Band of Me-Wuk, and E. Samuel Wheeler

Johnson says studies determined the need for additional financial institution offices as well as a bank to be headquartered directly in Sonora. Organizers believe the new Bank will be successful.

They anticipate the new bank will be open in the last quarter of this year or the first quarter of 2004.