Region Finance: Putting $1 Billion Into The Local Economy

By November 13, 2017News

Sacramento Business Journal, 

The Sacramento Region Business Association has launched a new trade association focused on getting local governments to do more business with local banks.

“We would like to see local government put $1 billion into local banks so they can reinvest into the local economy,” said Joshua Wood, CEO of the Sacramento Region Business Association.

The new effort is called Region Finance, and its board consists of CEOs from local banks including River City Bank, Five Star Bank, American River Bank and others.

Region Finance will operate as a trade association to represent banks, accounting firms, and financial companies, he said.

Currently, Wood said, many local governments don’t do business with community banks. Sacramento County, for example, has banking relationships with a handful of international banks, but no accounts at a local community bank, he said.

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