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5 Critical Updates: What You Need To Know About Savings Bank Of Mendocino County In 2025

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The Savings Bank of Mendocino County (SBM) continues its legacy as the only bank chartered and headquartered in Mendocino County, maintaining a deep commitment to Northern California's local economy and its residents. As of December 2025, the institution is navigating a dynamic financial landscape, marked by significant leadership changes, a continued focus on community reinvestment, and recent high-profile security challenges that underscore the evolving nature of modern banking security.

This article provides an in-depth look at the institution's most recent developments, financial stability metrics, and the key personnel driving its strategy. For over a century, SBM has been a pillar of financial stability in the region, and understanding its current operational status and strategic direction is vital for customers, investors, and the wider community it serves.

The Core Leadership and 2025 Organizational Shifts

Savings Bank of Mendocino County is led by a dedicated team with deep roots in the region, ensuring that decision-making remains local and responsive to the community's needs. The current structure blends long-standing expertise with fresh perspectives brought by recent appointments.

Key Leadership Profiles

  • Stacy Starkey: President and Chief Executive Officer (CEO). Starkey holds the top executive role, guiding the bank's overall strategy and performance.
  • Charles B. Mannon: Chairman of the Board. Mannon provides strategic oversight and leadership to the bank's Board of Directors.
  • Rena Macapagal: Executive Vice President and Chief Banking Officer (CBO). Macapagal is a critical new addition, joining SBM in November 2024. In her role, she oversees the bank’s retail banking, consumer, and real estate lending operations, bringing a renewed focus to customer-facing services.
  • Robert Hartline: Chief Financial Officer (CFO). Hartline manages the bank's financial reporting and fiscal strategy.
  • James Ratchford: Chief Information Officer (CIO). Ratchford is responsible for the bank's technological infrastructure and digital security.
  • Jeff Mindling: Chief Credit Officer. Mindling oversees the bank's credit risk management and lending policies.

The appointment of Rena Macapagal in late 2024 highlights the bank's proactive approach to strengthening its operational leadership and retail banking segment, signaling a strategic push for growth and enhanced customer experience heading into 2025.

Financial Health and Performance Metrics (Q3 2024 – Q4 2025)

As a community bank, SBM’s financial stability is crucial for the local economy. Recent reports confirm the bank's robust position, demonstrating prudent management of assets and deposits despite fluctuating economic conditions.

Snapshot of Financial Stability

According to the latest available data, Savings Bank of Mendocino County maintains strong financial indicators:

  • Total Assets: The bank’s total assets stand at approximately $1.35 billion.
  • Total Deposits: Total deposits are reported at around $1.05 billion. This large deposit base reflects strong community trust and loyalty.
  • Return on Average Assets (ROAA): As of Q3 2024, the ROAA was 0.80%. This metric indicates the bank's efficiency in generating profits from its assets.
  • Loan-to-Deposit Ratio: As of March 31, 2024, the Loan-to-Deposit Ratio was 68.86% ($700,663 thousand in net loans and leases against $1,017,446 thousand in total deposits). This ratio suggests a healthy balance between lending to the community and maintaining liquidity.

The consolidated statement of condition as of December 31, 2024, further solidifies its position, with figures for Cash and Due from Banks reported for the end of the year. The continuous updating of financial reports, with a quarter ended date of September 30, 2025, and an update date of October 23, 2025, shows a commitment to current transparency for stakeholders.

The Century-Long Commitment to Mendocino County

Savings Bank of Mendocino County is not just a financial institution; it is a historical landmark and a vital community partner. Its commitment is cemented by its unique status and its ongoing efforts in community reinvestment.

A History of Local Resilience

The bank's history dates back to December 11, 1903, when it first opened its doors in the Redemeyer Building at the corner of State and Perkins in Ukiah. Notably, the bank was deemed financially sound enough to reopen even during the challenging period of the Great Depression on March 10, 1933. This resilience is a testament to its conservative and community-focused banking practices.

The 'Only Bank' Advantage

SBM proudly operates as the only bank chartered and headquartered right in Mendocino County. This distinction means that all major decisions—from loan approvals to strategic planning—are made locally by people who understand the specific economic and social nuances of Northern California communities, including Ukiah, Willits, and Fort Bragg.

Community Reinvestment and Involvement

The bank’s dedication extends beyond traditional banking services. It actively supports the community through the Community Reinvestment Act (CRA), a commitment that dates back to its founding in 1903. Employees are highly involved in local activities, including volunteering, fundraising, and supporting local non-profits, reinforcing the bank's role as a true community builder.

Recent Security Challenge: The 2025 'Jackpotting' Incident

In a significant and high-profile security event, the Savings Bank of Mendocino County was the target of a sophisticated ATM theft operation in September 2025. This incident highlights the modern security threats faced by all financial institutions.

Details of the Theft

On September 29, 2025, the Ukiah Police Department Detective Bureau was dispatched to the bank's Airport Park Boulevard branch following reports of a major theft. The incident involved what is known as 'jackpotting,' a technique where criminals use malware or a physical device to force an ATM to dispense large amounts of cash.

The Outcome and Response

The thieves successfully stole an estimated $100,000 using this method. However, the Ukiah Police Department swiftly investigated the crime, leading to the arrest of three individuals suspected of involvement in the sophisticated theft. While a significant financial loss, the quick response from law enforcement and the bank’s cooperation demonstrates the active measures taken to address and mitigate sophisticated criminal activity.

This event serves as a stark reminder of the ongoing need for financial institutions to continually update their security protocols, particularly regarding ATM and digital defenses, a responsibility that falls under the purview of the bank's Chief Information Officer, James Ratchford.

Why SBM's Local Focus Matters More Than Ever

In an era dominated by large, national financial corporations, the local decision-making and community-centric model of Savings Bank of Mendocino County is a crucial differentiator. By keeping its headquarters in Ukiah, SBM ensures that capital remains within the local economy, fueling business growth, providing mortgages for families, and supporting agricultural enterprises across Mendocino County.

The bank's strong financial footing, recent leadership enhancements, and century-long history of community dedication confirm its status as a reliable and vital financial partner for Northern California. While recent security challenges like the 2025 'jackpotting' incident are a concern, the transparency and rapid response demonstrate a commitment to maintaining a secure and trustworthy banking environment for its customers.

savings bank of mendocino county
savings bank of mendocino county

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