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New CEO propels First National Bank''s rebound: Community Bancorp staking its claim along growing I-15 corridor.

Article Excerpt
There was a time not that long ago when First National Bank was in a funk, battered by a hefty portfolio of problem loans and lacking the capital to expand.

These days, the largest locally owned commercial bank has a new CEO, who says the lull is over.

"This bank was in a lull for a period of time, but things are changing," says Bob Borgman, who took over the bank's top job in July. "Our seasoned loan officers are out on the street meeting people, and I'm letting them do what they do best."

Borgman, 55, replaced former First National CEO Steve Rippe, who abruptly resigned in June.

Except for heading up his own commercial lending business, this is Borgman's first job as CEO. First National, a subsidiary of First Community Bancorp of Rancho Santa Fe, has about $1.2 billion in assets and 175 employees.

He says his biggest challenge is just coordinating the talented bankers, all of whom range in experience from 10 years to 40 years. Despite a perception of a static economy, Borgman says his bank has been busy and has "a huge pipeline" of loans.

Loan activity is coming from a...

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