Texas-based Guaranty Bank is regrouping its California lending operation into a new Irvine office.
The commercial bank with $16 billion in assets says closing its Sacramento and San Diego offices and consolidating in Orange County will make it more efficient.
“Irvine was the place we could be central,” said Jon Larson, regional manager with the bank.
The move gives Guaranty Bank, a unit of Guaranty Financial Group Inc., easier access to clients in Orange, Los Angeles and San Diego counties, while cutting down on rent, he said.
The consolidation is part of the company’s newfound independence, Larson said. Austin, Texas-based Temple-Inland Inc., a maker of packaging products, spun off Guaranty Financial last year.
About 22 employees are set to move to the 9,000-square-foot Irvine office, which is in the new 2050 Main St. building recently built by Opus West Corp.
For more on this story, see the Feb. 11 issue of the Business Journal.
