Contact Us    Locations    01/05/2009

VETERAN ESCROW OFFICER JOINS THE MECHANICS BANK

San Francisco, CA, September 6, 2007—Elizabeth McGovern has joined The Mechanics Bank as Senior Escrow Officer in the Business Escrow Services Department, located in San Francisco. The department, a rarity among Northern California banks, opens and manages a wide array of escrow transactions including asset sales, stock transfers, subscription offerings, holding escrow accounts and contractor retentions.

McGovern is a veteran escrow officer who worked more than 12 years with Fidelity National Title Company in San Francisco, where she handled Bulk and Liquor License Transfer escrows in compliance with required code regulations, as well as escrows involving manufacturing businesses, auto dealerships, real estate sales and secondary financings. Before that, she was an Escrow Officer for The Bank of San Francisco.

“As a community bank, our business clients need a trusted financial partner to help them through the tremendous complexities of buying or selling business interests,” said Judith Brant, Vice President, Treasury Management at The Mechanics Bank. “Elizabeth understands the complexities of business escrows which may involve significant liability for all parties. It’s a service that very few banks offer, and one that meets a significant need in the communities we serve.”

“The Mechanics Bank’s mission is to ‘help people build prosperous communities,’” said McGovern. “I can’t think of a better way to accomplish that than to help small businesses and entrepreneurs navigate critical transactions that frequently determine their future success. I love what I do, and I love being with a bank that cares so much about its customers.”

McGovern is an outdoors enthusiast who loves to bicycle around Alameda, where she lives with her husband and young daughter, and is very involved in her daughter’s school. An adult son lives and works in San Francisco.

The Mechanics Bank is headquartered in Richmond, California. The 102-years-old family-owned community bank is one of the largest independent banks headquartered in Northern California, with more than $2.7 billion in assets.

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