Business & Real Estate
- Published on Tuesday, 13 March 2007 20:00
- Written by John Flood - Town Crier Staff Writer
Vineyard Bank of Corona will soon join the bevy of banks in Los Altos.
The company, with $2.3 billion in assets, plans to open an office in Los Altos within the next 60 to 90 days, said Executive Vice President Natalie Taaffe.
Currently the bank has 15 branches in Southern California and a Northern California office in San Rafael.
"Initially, our office will be a loan construction office," said Taaffe, responsible for the single-family residential luxury construction-lending unit at Vineyard.
The bank will focus on homeowners and builders and eventually open a full-service branch.
"We'll serve home-owners interested in a remodel, a renovation or a complete teardown and rebuild," Taaffe said.
Vineyard will also serve general contractors, building on a speculative basis.
Taaffe, a resident of Los Altos, is looking for a branch location on San Antonio Road.
"We need onsite parking and that's challenging to find," she said. "We are definitely coming to town at a downtown location."
Prior to joining Vineyard,
Taaffe was executive vice president and construction lending manager at Bridge Bank of San Jose. She opened the firm's construction and real estate lending division in 2001.
In opening a bank in Los Altos, Taaffe is returning to her roots. She is a descendant of one of the region's founding families, the Murphy family of the Murphy/Stevens party, the first wagon train to successfully cross the Sierra Nevada mountain range in 1844.
When the Taaffe and Murphy families joined in marriage in 1862, Martin Murphy gave 2,800 acres of what later became Los Altos Hills to his daughter Elizabeth, the bride, and William Taaffe, the groom.
"I like to think that by focusing on construction lending throughout my career I'm continuing the tradition started by the Murphy family so long ago," said Taaffe, who was born and raised in Los Altos Hills.
Vineyard Bank is located temporarily at 2225 E. Bayshore Road., Suite. 223, Palo Alto.