Irwin Union Bank coming to Carson

An Indiana bank expanding outside the state's borders has chosen Carson City for its first Nevada branch.

Irwin Union Bank and Trust is recruiting employees for its office at 1717 East College Parkway, in the Shaheen Business Park.

Doors are expected to open at the 9,000-square-foot office in mid- to late-December, when approval from the Nevada Division of Financial Institutions is expected, according to Irwin spokeswoman Suzie Singer.

Irwin Union Bank opened in Columbus, Ind., in 1871 and operated only within the borders of Bartholomew County until 1990, John Greenwell of Irwin's marketing department said Friday. From 1990 to 1998, the bank expanded to communities on several other Indiana counties, he said. In the past two years, Irwin Union Banks have opened in St. Louis, Mo., and in Kalamazoo and Grand Rapids, Mich., Greenwell said.

The Carson City branch will house the commercial and retail banking services, as well as offices for Irwin Home Equity, Singer said. There will be a drive-up ATM and night drop, but no drive-through teller lanes, she said.

"The way we do business is very localized," Greenwell said. Decisions about loans and investments are made in the local branch offices rather than being sent back top headquarters, he said.

Parent company Irwin Financial Corporation derives three-quarters of its revenue from Irwin Mortgage Corporation, according to the company website. Irwin Union Bank and Trust represents 14 percent of revenues, while Irwin Home Equity contributes 9 percent. A fourth subsidiary that leases for medical equipment, Affiliated Capital Corp., provides 2 percent of the company's revenues, according to the website.

Irwin Home Equity, formed in 1994, is based in San Ramon, Calif.

Irwin Mortgage is listed on the Nevada Secretary of State's Web site as being incorporated in Nevada in 1990. Another page in Irwin Financial's website indicates the mortgage operations also do business under the name Inland Mortgage Corporation.

Though Nevada is only the fourth state to have a Irwin Union Bank branch, the company Web site says the four affiliated businesses have offices in 27 states and operate in all 50.

Gene Rossiter of R.L. Shaheen Company, which is leasing the office to Irwin Union, said Friday the building itself should be ready by Dec. 1.

First Union will be the second bank to open near the College Parkway-Goni Road intersection. Pioneer Citizens Bank has a branch already in business at the corner.


Use the comment form below to begin a discussion about this content.

Sign in to comment