Nano Financial Holdings

Nano Financial Holdings, Inc., operating as Nano Banc, is an Irvine, California-based commercial bank focused on serving businesses throughout Orange, Los Angeles, and Riverside Counties. The institution operates on a business model that minimizes physical branches in favor of a technology-centric, high-touch service approach, engaging clients directly at their places of business. This strategy aims to reduce overhead, with the resulting savings intended to provide clients with better pricing and products. The bank's revenue is generated from interest on loans and fees for services.

The bank’s journey began when Nano Financial Holdings, Inc. was founded in May 2017. In May 2018, the holding company acquired Commerce Bank of Temecula Valley for $23.3 million, which was then rebranded as Nano Banc. The founding team consisted of Mark Rebal, Mark Troncale, and Anthony Gressak, all of whom had previously worked together at California Republic Bank. They launched Nano Banc after raising $71.7 million in equity capital. The bank experienced rapid initial growth, reaching $1.3 billion in assets by mid-2021.

However, this growth phase was accompanied by significant regulatory scrutiny. In February 2021, the Federal Reserve issued an enforcement action related to the bank's concentration in commercial real estate lending. Later that year, California's Department of Financial Protection and Innovation issued a cease-and-desist order after the bank made leadership and board changes without the required advance notice. This led to a period of leadership turnover and governance restructuring. One of the bank's co-founders and former interim CEO, Anthony Gressak, was later barred from the banking industry and fined by the Federal Reserve for multiple violations, including issues related to COVID-era loan programs. Another co-founder, Mark Troncale, was removed from his position as President by regulatory order in 2022. To stabilize operations, a new management team and board were installed in mid-2022. In July 2024, Mary Lynn Lenz, an experienced banker known for managing regulatory turnarounds, was appointed President and CEO, leading a new, woman-led executive team.

Nano Banc provides a suite of commercial banking products, including commercial real estate loans, commercial and industrial (C&I) loans, and small business lending. It also offers personal and business deposit products like checking and savings accounts. A key part of its strategy involved developing its own technology platform, including a system called Atlas, designed to enhance security against wire fraud and improve transaction efficiency.

Keywords: commercial banking, business banking, relationship banking, digital banking, Southern California bank, commercial real estate lending, C&I loans, SBA loans, treasury management, deposit products, financial services, Irvine bank, Orange County business, high-touch banking, fintech banking, banking technology, corporate governance, regulatory compliance, commercial deposits, business financing