SACRAMENTO >> Assemblymember Bill Dodd and Senator Mike McGuire have been working together to find a solution to the closure of Upper Lake’s only bank branch. Working with Commissioner Jan Lynn Owen of the California Department of Business Oversight, the pair reached a temporary solution in which Westamerica Bank will continue to operate its Upper Lake branch for an additional 6 months. This will allow the community, the Board of Supervisors and Lake County legislators time to complete a long-term banking solution for the area.
Westamerica Bank’s proposed Upper Lake branch closure was initially approved by the Department of Business Oversight, however, after residents and business owners rallied to raise awareness of the impact the closure would have on the larger community, the Department re-opened its case and both Senator McGuire and Assemblymember Dodd worked to find an agreement that would ensure the community continued to have banking services.
“We are both thankful to Commissioner Owen for helping the Upper Lake community and grateful to Westamerica Bank for listening to the residents’ needs,” McGuire and Dodd said in a joint statement. “We will continue working together with the community and with other banks and credit unions to secure a long-term solution.”
Both Dodd and McGuire sent letters to Department of Business Oversight last month requesting the entire Northshore region be taken into consideration during its decision-making process of a potential bank closure.
“Upper Lake continues to grow and recover from the recession, and a community bank is vital to the long term success of the local economy,” McGuire observed. “It’s critical that the needs of Lake County are met and we’ll continue to work hard to see this through.”
The bank occupies a central location in downtown Upper Lake, surrounded by thriving businesses, including the Tallman Hotel, the Blue Wing Saloon, Lake County Wine Studio and Upper Lake Mercantile, along with a number of shops.
“Upper Lake has had a bank on the town’s Main Street for many years and ensuring continuity of banking services is very important to the success of local businesses and residents alike,” Dodd said. “I am pleased by the additional effort of Commissioner Owen and her staff and glad that Lake County will benefit from this collaboration.”
The two lawmakers are planning a Community Meeting this summer to hear directly from residents and businesses on this issue.
