Business & Real Estate

This bank is making a big move just a short distance away

Golden Pacific Bank is moving from downtown Sacramento to a recently purchased building in midtown.

The locally based bank currently leases its corporate headquarters and Sacramento branch in Park Tower at 980 Ninth St.

It expects to mark its grand opening at 1409 28th St., in June. The new site has about 6,000 square feet of space.

The new facility includes a new loan production center and business branch.

“We are excited to move into bright new quarters in the quickly emerging, dynamic midtown area. Our new location and facilities allow us to continue enhancing our ability to serve our customers at the highest levels,” said Virginia Varela, Golden Pacific’s president and CEO.

The bank said it wanted “a modernized space layout” and a more convenient parking site for its small-business customers. The bank added that it is seeing growth in commercial real estate and apartment building loans.

Golden Pacific also has branches in Yuba City and Live Oak, and a business center in Marysville.

In 2017, the bank reported its most profitable year in its 10-year history. Net income last year totaled $1.16 million, with 10 consecutive profitable quarters. The banking firm reported total assets of $125 million.