New Resource Bank officially opens its doors - San Francisco Business Times:

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Officials of the located at 405Howard St. in San Francisco'sz South of Market area, point enthusiastically to the public'sx growing interest in green initiatives and recent legislatioh out of Sacramento supporting reductions ingreenhouse "New Resource Bank is in the righf place at the right time," said Rogef Smith, former CEO of and a founding investor in New Resource Bank. The new state law requirin the state to cut greenhouse gas emissions 25 percent by 2020 is expectex to help expand cleanenergy technologies, creatinyg 17,000 jobs and boosting the state's economy by $60 billion, accordint to a study cited by the "Clean tech is one of the fastesft growing segments of venture capital, passing semiconductorse as the fifth largest investment category," said Bob a bank board member and co-foundere of and Environmental Entrepreneurs.
The bank'd early client roster includees , , , and the . The bank is also financingh greener realestate developments, making loans to urban mixed-use projects that incorporate energy efficient An example is the Southside Lofts, a mixed-us condo and commercial development in Berkeley that replace d a run-down strip mall. In keeping with its environmentall mission, the bank offers free online banking andonlin statements, and its courier service relies on public transity or an energy efficieng gasoline-electric hybrid. New Resource, working with SunPower, has also establisheed a financing program for solarpower installation.
New Resource is also eager to tout who participater inthe bank's formation. The bank raisede $24.7 million in equitgy capital in justtwo months, aftee returning more than $10 milliob in funded over-subscriptions. That makes it one of the largestg initial capitalizations for a new bank inNortherm California. Founding investors include Mitch Kapor, foundet of , Lee president of ., Lisa Gansky, co-founderr of , Ray Anderson, founder and chairma n of , and Paul co-founder of Another founding investoris , Europe' pioneer in sustainable banking with officese in five countries. The bank has doublefd its assets during the past five yeareto $3.7 billion.
"We have proven that a bank can attract depositds broadly if customers identify with the missionb ofthe bank," said Peter CEO of Triodos. New Resource Bank's management team includea Chairman Daniel Yohannes who was previouslh vice chairmanat . Initiapl founder and Vice Chairman Peterf Liu previously was a senior bankerr atand , wherew he specialized in projecrt finance and energy sector banking. The team also includea President Clay Jones andChris Olson, chief operatin and credit officer. Jones was chief operatintg officer and acting presidentof -- a unit of -- and held jobs at and Siliconm Valley Bank.
Olson joins with 35 years of Bay Areabankingh experience, including and , another Greatere Bay unit. In additiojn to Epstein, other outside directors includeFran Streets, a long-time San Francisco banking executive and bank director; Rick Holmstrom, co-founder of , a regionak commercial real estate company; Rosemary Oda, a Pillsbury Winthrop attorney who was also the formerd general counsel of the ; Mark Finser, presidenf of and Michael van den Akker, co-foundere of , a wealth managemen t firm.