First Independent buys realty brokerage

First Independent Capital of Nevada, the parent company of

First Independent Bank of Nevada, last week said it purchased

Smith Realty Finance, a 14-year-old real estate

commercial brokerage firm based in Reno.

The bank's new realty finance division will handle

packages for the purchase and refinance of

commercial real estate in northern Nevada, said

Mike Hix, president of the unit to be known as

First Independent Commercial Mortgage.

"Having a commercial brokerage division will

allow us to assist our customers with much larger

transactions and at times arrange more flexible loan terms and

structures," Hix said. "This means flexibility to finance much

larger projects such as a shopping center, warehouse, industrial

or even multi-family residential projects."

Grant Markham, president and chief executive of First

Independent Bank, said the bank sees a growing demand for

commercial real estate lending services in the Truckee

Meadows.

First Independent Commercial Mortgage will be located at

6518 S. McCarran Blvd., the bank's headquarters.

The First Independent's primary focus is business and professional

markets, providing commercial banking services such

as business deposit accounts and commercial, construction and

commercial real estate loans.

The bank opened for business in September 1999 after raising

capital through a private stock offering. Nearly 96 percent

of the bank's shareholders are Nevada residents.

The bank added a Sparks branch in February of 2002.