Mojave Desert Bank to Buy Bank of America's Mojave, Calif., Branch.(Originated from The Bakersfield Californian)

Jul. 14--Three banks are involved in banking changes in Mojave and Tehachapi.

Bank of America announced that its Mojave branch will be bought by Mojave Desert Bank, which now has a branch right across the street.

The Mojave transition is subject to federal regulatory approval. When that is obtained, the timing and further information will be provided to customers, bank officials said.

The Bank of America branch is at 15773 K St., while the Mojave Desert branch is at 15772 K St. When the acquisition is complete the 17 employees of the Mojave Desert branch will move to the larger Bank of America building where its current seven employees will be offered jobs, officials said.

"The purchase of the Mojave office by Mojave Desert Bank will ensure the continuity of banking services for the community," said Bank of America District Manager Larry Knutson in Bakersfield.

The sale is an efficiency move by Bank of America which does not have extensive retail operations in the area, Knutson said.

Mojave Desert Bank currently operates branches in Mojave, Helendale and California City. Its assets totaled $17 million as of June 30.

"We welcome Bank of America's Mojave customers and employees to our bank," said Don Stowell, president of Mojave Desert Bank. "As a local community bank, we're committed to supporting the growth of our communities through quality customer service and our full range of banking products."

Union Bank of California announced that it has opened an in-store branch that will be open seven days a week at the SaveMart grocery story, 841 Tucker Road in Tehachapi.

The SaveMart store will be the latest in-store branch for Union Bank of California, the first major bank to start in-store branches in 1990.

It now has 42 such branches in the state.

Sally Fimbres is the manager of the new branch and Cathy Criger is the assistant manager. Both are Tehachapi residents.

The bank is offering regular personal checking accounts free of monthly service charges for three years in a promotion that runs through Aug. 31. The bank will contribute $5 to the Tehachapi Heritage League for each new checking account.

A July 26 grand opening will include a grand-prize drawing for shoppers. The winning entry, which will receive a $250 SaveMart gift certificate, will be announced Aug. 31.

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