Sonora Bank: Company Research Report

Company Overview

Name: Sonora Bank

Mission of the Company: Providing excellent and professional financial services in a hometown atmosphere.

Foundation:

• Founded: 1900

• Founder: E.R Jackson

Key People:

• Bob Malone: Executive Chairman, President, and CEO of First Sonora Bancshares & Sonora Bank

• Jim Cox: Executive Vice President and Chief Credit Officer

• Stephen Franco: Executive Vice President, Chief Operating Officer

• Evan O'Brien: Executive Vice President, Chief Financial Officer

Headquarters: 102 E. Main Street, Sonora, Texas

Number of Employees: No information is available

Revenue of the Company: No information is available

What the Company is Known For: Sonora Bank is known for providing tailored banking solutions, focusing on serving ranching and rural families since its inception in 1900. It continues to expand its footprint while maintaining strong community ties.

Products

Product Offerings:

• Personal Banking Services: Checking and savings accounts, loans, digital banking.

• Commercial Banking Services: Checking, savings, lending, and merchant services.

• Loans: Consumer and commercial loan products with expertise in efficient processing.

• Digital Banking: Mobile app and online banking services.

• Insurance Services: Offered via third-party affiliations.

High-Level Description:

• Sonora Bank offers comprehensive personal and commercial banking solutions with advanced digital services, emphasizing convenience and security for its customers.

Key Features of Each Product:

• Checking Accounts: Various account types with personalized customer service.

• Savings & Money Market Accounts: Higher interest yield than traditional savings.

• Mobile Banking App: Allows for check deposits, bill payments, and account balance checks.

• Commercial Loans: Tailored to meet business needs from application to funding with a quick and efficient process.

Recent Developments

Recent Developments:

• 2023: Opened a technology-driven satellite location in San Antonio's Rogers Ranch area.

• 2024:

• A new branch opened in New Braunfels, Texas.

• A new satellite office opened in Hutto, Texas.

New Products Launched: No information is available

New Features Added to Existing Products: No information is available

New Partnerships: No information is available

Conclusion

Sonora Bank maintains a significant presence in Texas with a commitment to community-focused banking. The bank effectively integrates traditional and digital banking services to provide comprehensive solutions to individual and commercial clients, with ongoing expansions in new locations.