Nevada Security Bank office near completion

Nevada Security Bank isn't shy.

Its new 9,500-square-foot building at

Double R and South Meadows Parkway in

southwest Reno will be the dominant

commercial structure in its neighborhood

a statement, its founders say, of the

bank's young muscle.

Nevada Security Bank expects to be in

the new headquarters and branch office by

November.

"This is such a strong growth area," said

Joe Bourdeau, senior executive vice president,

as he walked through the construction

site last week. He points to the burgeoning

population growth of South

Meadows as well as the industrial and

office development in the area as reasons

organizers expect the bank to thrive.

Today, Bordeau said, the bank has

$52 million in deposits. As recently as

June 30, Nevada Security Bank reported

to the FDIC that its deposits totaled

$37.8 million.

At the time of its last FDIC report, the

bank had cautiously begun lending with

$5.4 million in loans. The lion's share of its

deposits nearly $25 million was invested

in securities.

Bordeau said the bank's senior executives

know the northern Nevada market

well and are building a portfolio of commercial

and real estate loans.

President of the bank is Hal Giomi,

who formerly was a senior vice president of

Capital Valley Bank. Bourdeau, a longtime

resident of Incline Village, was vice president

and sales manager for Nevada

Banking co. Bob Walter, the bank's executive

vice president and chief credit officer,

previously worked for Bank of the West,

Sierra West Bank, Bank of America and

Valley Bank of Nevada.

Rounding out the executive team are

Vice President Robin Orr, who has 23

years experience in bank operations in the

region, and Jack Buchold, previously a

banker in California, will serve as executive

vice president and chief financial officer.

The bank was founded in 2001 with

initial capital of $14 million and about 400

shareholders.

It's been operating out of a storefront in

the nearby Double Diamond Town

Center. A second branch operates in

Incline Village at the Raley's Shopping

Center.