Community Bank has the growing local economy to thank for getting Clinton L. Arnoldus to be its new president and chief executive.

“I have worked for big banks for a number of years the market opportunities for small banks is why I came here,” Arnoldus said. “The Southern California economy is so strong now, the partnership between small businesses and community banks will reap fantastic rewards.”

Pasadena-based Community Bank was founded in 1945, specializing in loans to small and mid-size businesses. The bank has 11 branches throughout Los Angeles County, Orange County and the Inland Empire, and plans to open a 12th branch in Upland.

“This bank has a 53-year history in Southern California as a consistent performer,” Arnoldus said. “As time goes by, I believe it will become an even more significant player in the market.”

Although the company is not publicly traded, it released a financial statement reporting net income of $3.8 million for the six-month period ended June 30, compared with $2.4 million in the year-earlier period. The bank has nearly $1 billion in assets.

In the merger-happy atmosphere of today’s banking world, Arnoldus believes that smaller, independent banks offer better services than larger institutions. “We can be competitive on both a product and service level,” Arnoldus said. “We can sit down with a client and customize a banking product to their needs the big banks just can’t do that.”

Arnoldus has over 20 years of executive management experience at both independent and regional banks, and considers one of his strengths to be in small and middle-market banking. He has a long background in management and strategic planning in Southern California as well as other markets, including Nevada and New Mexico. His most recent position was president and chief executive of The Bank of New Mexico.

Karen Teitelman