Former Sun State bankers create Sun West Bank

Jackie DeLaney says she's the first woman to organize and found a bank in Nevada. The community bank, Sun West Bank, opens Monday.

DeLaney says it's ironic that 65 percent of the banking industry's employees are female, yet upper management is male dominated.

In her case, DeLaney rose to the position of executive vice president for Sun State Bank but moved on in 1997 when Sun State was acquired by Zions Bancorporation of Salt Lake City and merged into Zions' local subsidiary Nevada State Bank.

DeLaney, 44, said she grew up in an era of growing employment opportunities for women. Today, she wants to continue creating career opportunities for herself and others.

DeLaney headed the group of eight who organized the new bank and now make up the board of directors. Ken Templeton is chairman of the board; and Steven Kalb, Hugh Templeton, Larry Carter, Luther Kutcher, Jerome Snyder, and Mark Stout are directors.

"As CEO, I was like the catalyst for the organizing group," she said.

People generally spin off from any merger, DeLaney explained, and the Sun State transaction created new opportunities for herself and the others.

Sun West will be joined by all of the outside directors from Sun State. Former stockholders in that bank will provide roughly 70 percent of Sun West's ownership.

She said the bank's $12 million in initial capital is probably the most ever for a community bank opening in Nevada.

In addition, the bank will be the first commercial bank in Nevada to be organized as a subchapter S corporation.

This design includes federal tax advantages and specifically eliminates the double taxation associated with typical corporations.

DeLaney said the bank is also set apart by the level of local involvement.

The bank is locally owned and operated. Everyone on the board of directors and all 21 shareholders are Nevada based, she said.

DeLaney said she intends for her operation to be "a premiere business bank," offering personalized service for its customers.

"Other institutions talk about service, but they very rarely provide it," she said.

Sun West will focus primarily on small to medium-sized businesses in the construction, professional, manufacturing and trade sectors, DeLaney said.

In order to serve these clients, the institution will come to customers with programs like currier services. DeLaney said one-on-one attention will be a focus of the bank.

"We are not a cookie-cutter shop. We don't do assembly line loans" she stated.

Business loans are the bank's forte, and it will customize them to meet individual needs, DeLaney said.

Commercial real estate and Small Business Administration loans will be available.

Although Sun West is capable of offering residential mortgage loans, DeLaney said they would not be a primary product. She explained that with all the mortgage firms in the area, there is little room for a bank like hers to compete.

Sun West deposits will be insured by the Federal Deposit Insurance Corp. and it will be regulated by the state.

The bank will open with one branch at 5830 W. Flamingo, and a second branch is scheduled to open in Sun City Summerlin early in August.

A temporary structure is in place now at the Flamingo site with a permanent building on the way in the upcoming year.

The two initial locations are Sun West's primary concern, but DeLaney said the bank's long-term plan includes expansion in the Las Vegas Valley.

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