SAN FRANCISCO–(BUSINESS WIRE)–TASI ® Bank, which has provided more than $20 million in financial support to segments of the California cannabis industry, today announced a broad array of products for businesses as it expands its presence in the sector.
The San Francisco-based community business bank (www.tasi.bank), with over $500 million in net assets, will offer lending, deposit, and other banking services to providers of:
- Medical and retail dispensaries
- Cultivators
- Testing services
- Transportation companies
- Branding and packaging businesses and
- Professional service providers (legal, accounting, real estate)
“We have been working with customers for over five years,” said Dave Joves, president of TASI Bank, “but our services have been limited to companies in Tier 2 and Tier 3 segments, which are essentially one step removed from actual handling of cannabis.”
Joves said that recent changes in regulations have made it possible to reach out to customers in Tier 1.
TASI Bank, a Bank of Guam ® division, serves business customers in Northern and Southern California and has operated in California since 1983. It recently announced that it had exceeded $500 million in net assets, up from $35 million over the past ten years.
“Our growth and business over the last decade have been quite strong,” said Joves. “We emphasize close relationships with our customers and are regarded as mavericks within the banking community. We serve business segments and populations often disregarded by larger regional and national banks.”
TASI Bank is an SBA Preferred lender as well as a Minority Depository Institution (MDI). Other prominent business sectors that are served include commercial real estate, hotels and motels, low-cost housing, gas stations and convenience stores, and small to medium-sized manufacturers.
About TASI ® Bank
TASI ® Bank, located in San Francisco’s Financial District, has served a broad community of business and commercial customers in the nine Bay Area counties since 1983. A maverick in community banking, it builds value for its client base by being flexible and adaptive and providing the traditional services of a bank combined with online, fintech capabilities. A division of the Bank of Guam ®, TASI encourages its staff to create and provide innovative products and services that meet customer needs. It defines its success by the level of success that customers achieve. As a Minority Depository Institution (MDI) and an SBA Preferred Lender, it has the regulatory flexibility and the expertise to say “yes,” for customers who may have been denied at other institutions.