Fast-growing Independence Bank has named Daniel J. Geary, a former president of Warner Center Bank, as senior vice president in charge of branch-office operations.
Encino-based Independence, the biggest bank headquartered in the San Fernando Valley, said Geary is filling a position just created to help handle the expansion that began when the institution was acquired last October by Saudi financier Ghaith R. Pharaon. Independence's assets as of June 30 totaled $283.3 million, up 29.5% from a year before.
In April, Independence acquired most of the assets of Center National Bank of Woodland Hills, which was closed by regulators. On Monday, it opened its 11th branch, at 175 S. Beverly Drive in Beverly Hills.
Morton R. Michaels, Independence's president and chief executive, said the bank plans to open two to four more branches next year in areas near the Valley, where it already has eight offices.