10-K Annual Report

Breaking new ground in Santa Fe

On September 10, 2008, LANB broke ground on the new Cerrillos office in Santa Fe. The new office will be located at the intersection of Cerrillos Road and Vegas Verde.

The new office will be a two story, 14,000 square foot full-service facility built to LEED certified "green" building standards. This new location will provide convenience to south Santa Fe customers and will include full banking services plus five drive-up lanes. Construction is expected to be completed September 2009.

Attending the groundbreaking ceremony were Mayor David Coss of Santa Fe, members of the TCC's Board of Directors, contractors from Jaynes Corp., architects from SMPC, customers and other community members.

LANB expands Trust & Investment services

In 1993, LANB began offering trust and estate planning services to customers, knowing it would be of significant value to our customers in the future. LANB has provided investment services via third party arrangements for nearly two decades, starting with PrimeVest Investments and later with Smith Barney. These third party arrangements allowed LANB to provide a local option for equity investing and added convenience
for customers. 

In 2005, Daniel Monte, a well respected and skilled Santa Fe trust and estate attorney, was hired to manage the trust activities for LANB.  His talents, as well as those of the outstanding staff he has assembled, including Bernadette Rodriquez, Donald Kirby, Eric Loucks, and Ellie Roberts, have significantly improved the level of expertise and service available to customers.

In October 2008, well-known Santa Fe investment advisory firm Allocca & Brunett became interested in selling due to the retirement of partner Joe Allocca.  Having worked with Allocca & Brunett over the years, LANB recognized the value of their business.  This purchase nearly doubled LANB's investment management business, but more importantly, brought in valuable talent to move this part of the business forward.  One of those talents is John Brunett (pictured). John has 14 years of experience in financial management, planning and banking.  He is a long-time resident of Santa Fe and an active member of the community. He serves on the Board of Directors for the Santa Fe Boys & Girls Club and will play a key role in the expansion of LANB's investment services. 

This acquisition has contributed to earnings almost immediately and improved the depth and value of investment services LANB provides customers and those brought to LANB by this transaction.  Integration of customers and employees of Allocca and Brunett to the LANB Trust and Investment Services is expected to be complete by June 2009.