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The Wave: From Managing Director Dave Joves

"The first step towards getting somewhere is to decide you’re not going to stay where you are." J.P. Morgan

In April, I will celebrate my 10th anniversary with the Bank of Guam. From my first day I knew that my knowledgeable and dedicated team would take our operation to new and better places. I want to express my deep appreciation for their hard work in getting us to where we are today.

California operations have grown from $35 million in total assets in 2011 to $420 million today. We have delivered new products and services, such as online banking and …. We have also expanded our customer base beyond the nine Bay Area counties with further expansion planned. Over the next several months, we will implement exciting new initiatives, encompassing the latest technology, to make our banking services more dynamic and responsive.

To say 2020 was challenging is an understatement. We had a 100-year pandemic, bitter political division, historic civil unrest, and deadly fires that literally turned our skies orange. Proudly, our team at Bank of Guam was resilient; we maintained daily operations, participated in both rounds of PPP funding, and found green shoots of opportunity that allowed us to broaden our services and help keep our customers' businesses growing. Our Minority Depository Institution designation benefited our customers by putting them at the front of the line for the second round of PPP.

I am pleased to present the first edition of the Bank of Guam San Francisco Quarterly Update. We will use this newsletter to highlight our customers' success stories and the role Bank of Guam can play in solutions. We will provide insight into our vision with the “Words from Our Founder, Jesus Sablan Leon Guerrero” column, and contain features about our outstanding Bank of Guam staff. Each issue will also spotlight a community organization or non-profit that we proudly support.

In this inaugural edition, we talk with VP and branch manager Shirley Quitugua about her involvement with two San Francisco nonprofits that our branch has long supported. We interview Dave Knego, executive director of the Curry Senior Center, about their mission to promote wellness, dignity, and independence for the elderly. We also talk with Sister Marguerite Bartling, RGS, and Sister Anne Kelley, RGS, who run the Gracenter, a San Francisco program helping abused women with addictions. Their stories are inspirational.

Finally, the newsletter will address questions from customers as well as regulatory or legal issues that may affect your business.

I hope that each issue of the Bank of Guam San Francisco Quarterly Update will provide you with helpful and interesting information as we work together to build communities that thrive.