The Bank of Guam’s San Francisco branch has been renamed Tasi Bank, reentering the stateside market with a fresh brand aimed at repositing the institution to compete in the national banking landscape, bank executives announced Wednesday.
“The announcement of Tasi Bank today is another milestone in our ‘The Start of Something New’ campaign,” BOG president & CEO Joaquin Cook told a press conference. “As one of our long-term strategic goals, Tasi Bank is also a significant reflection of Bank of Guam’s growth and expansion to compete beyond our existing markets.”
The San Francisco branch was established in 1983, initially with four employees. The bank's staff has since grown to 20 employees.
A division of BOG, Tasi Bank contributes $450 million to the bank’s $2.8 billion total assets, Cook said.
The rebranding is also a prelude to Tasi Bank’s eventual expansion to Southern California, according to John David ”Dave” Joves, who has been promoted to division president for TASI Bank.
The rebranding came with a new logo, website and rebranded digital banking solutions.
The new name, “Tasi,” is derived from the Chamoru word for "ocean." The logo depicts a wave, that “visually connects cultures spanning 6,000 miles from Guam to San Francisco,” Cook said.
The Tasi Bank, Joves said, has also been rebranded to distinguish itself from other lending institutions in the Bay Area.
“We came out with a name that gives us some flexibility,” Joves said, noting that in the Bay Area, the Bank of Guam had often been mistaken for a government institution
“While it is tied to the Bank of Guam and its heritage, we can create a narrative that we are not a government bank,” Joves said.
Joves said the Tasi Bank will center its financial services around a wide range of commercial opportunities throughout various business sectors, including commercial real estate, franchised gasoline service stations, hospitality, as well as independent retail and wholesale firms.
Once known as the “oldest bank” in the San Francisco Bay Area, Cook said Tasi Bank is being reintroduced as the “oldest new bank” in the district.
Cook said the Tasi Bank will continue to serve as trusted advisors, now with a focus on business banking serving from the heart of San Francisco’s financial district.
“This is an exciting day for all of us. Over the years, we’ve achieved exponential growth, successfully building the branch to more than $450 million in total assets while serving a diverse community of small and medium-sized businesses throughout Northern California,” Joves said.
“Bank of Guam also sees Tasi Bank as a means to further modernize the Bank’s financial offerings and digital accessibility, while helping a diverse array of commercial customers. This is consistent with Bank of Guam’s longstanding mission to serve the underserved,” BOG said in a press release.
BOG, which will mark its 50th anniversary next year, also serves the CNMI, the Federated States of Micronesia, Marshall Islands and Palau.