The past year has been the most interesting and perhaps the most challenging since Black Mountain Community Bank opened seven years ago.
| I was elected chairman of the Nevada Bankers Association and re-elected to the board of the Henderson Development Association. |
Las Vegas has 40,000 new rooms under construction on the Las Vegas strip alone which will create some 200,000 new jobs in the next three years. We have had more than 6,000 people move into Las Vegas on a monthly basis for almost two decades. So, in spite of some current weakness in our residential market, there is certainly no easing up in the demand for affordable housing.
This growth also creates a need for office, retail and industrial space. The commercial real estate sector is still strong, albeit more expensive. Quality banking opportunities are still plentiful but pricing as always is very competitive. Our local economy looks good for the next several years. Obtaining full banking relationships, including loans, deposits and services are the keys to a bright future — and that is our aim.
Last June I was elected chairman of the Nevada Bankers Association and re-elected to the board of the Henderson Development Association, which works with the Henderson Economic Development Division and the Chamber of Commerce. I was also appointed to the President’s Advisory Board for Nevada State College. These are opportunities both to serve and gain recognition for our bank.
We began funding two four-year memorial scholarships to Nevada State College: one in nursing named after Mike and Carolyn O’Callaghan, the former governor and parents of our director Colleen O’Callaghan-Miele, and one in teaching named for two local Little League® ball players coached by customer DJ Allen.
As the bank’s business lines diversify and grow, we are expanding our office space. Last year, we needed more room for the residential mortgage division and to handle the addition of Capitol Wealth Advisors personnel. This expansion of employees, products and services makes us more competitive than ever. These improvements position Black Mountain Community Bank for another successful year and continued growth for many years to come.
— Peter M. Atkinson, President & CEO
