Nevada Commerce Bank’s SBA team going to work for Meadows Bank

Calvin Regan, the Small Business Administration lending leader at Silver State Bank, found a new home for his team at Nevada Commerce Bank after Silver State Bank was seized in September 2008.

Nevada Commerce Executive Vice President Regan and seven SBA lenders are resigning so they can go to work for Meadows Bank, the banks said.

Brad Tope, executive vice president and chief lending officer at Meadows, said the eight SBA lenders are expected to start work at Meadows in mid-January.

Kathy Phillips, chief executive officer at Nevada Commerce, acknowledged Regan's pending resignation but said the bank retains others who will continue making government-backed SBA loans.

News of the SBA lending team departure comes on the heels of the disclosure Monday that Nevada Commerce, Federal Deposit Insurance Corp., the Financial Institutions Division signed a consent order.

In the order, Nevada Commerce agreed to take steps to improve its practices and financial strength.

Regan contacted Meadows about possible employment several weeks ago, Tope said.

Meadows executives liked the idea of hiring the team and making standard SBA 7(a) loans, which may be used for a variety of business purposes and have government guaranties up to 85 percent.

Regan is a preferred lender, meaning that the SBA allows him to make final loan decisions.

Meadows Bank has made SBA 504 loans which are long-term loans for real estate, building and equipment, but it has not originated 7(a) loans.

Regan's team will give Meadows "a better opportunity to diversify and not to rely so heavily on (loans secured by real estate)," Tope said.

Regan has a good reputation with the SBA and the expertise needed to make SBA 7(a) loans, Tope said.

Contact reporter John G. Edwards at jedwards@ reviewjournal.com or 702-383-0420.