CLOVIS — Western Bank of Clovis becomes Western Commerce Bank June 1.
Western Bank is merging with Western Commerce Bank, headquartered in Carlsbad, according to a representative for the bank.
“The main purpose of the merger is to provide the Clovis bank with greater resources in order to grow and better serve the communities of Clovis and Portales,” Jason Wyatt said in an interview with The News last October. Wyatt is chairman, president and CEO of Western Bank of Clovis, and vice-chairman, president and CEO of Western Commerce Bank.
The two “sister banks” currently have had common management, common members of the board of directors and common ownership, Wyatt said.
“Due to ever-increasing expenses in compliance and IT technology, smaller banks have a hard time growing. Western Commerce is a much larger bank and can provide Clovis with those resources,” Wyatt added.
He said there won’t be any changes outside of the name of the bank, which will become a branch of Western Commerce Bank.
“For customers, the accounts will remain the same, but the bank will be able to provide additional products and services,” Wyatt said.
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