"When we crossed 100,000 people, we were the largest city in the U.S. without a bank chartered in our city," Montandon said. "We had branches, but the guys at the FDIC scratched their heads and said, 'We don't know of any city over 100,000 people without a bank.'"

But last August a group of local bankers, backed by local investors, opened the city's first chartered bank, the Bank of North Las Vegas.

A year later the bank — at 3000 W. Ann Road, Suite 107 — is already profitable and expects to move into its new headquarters in early 2007.

James R. York, president and chief executive, said the North Las Vegas market was ripe for a hometown bank to dominate the market.

Not only did North Las Vegas — the country's second-fastest-growing city with a population of more than 175,000 people in 2005 — not have its own incorporated bank, but it had only 15 bank branches.

That's more than 11,000 people per branch, compared with about 2,000 people per branch in the city of Las Vegas, where there were about 275 bank branches and almost 550,000 residents in 2005.

It didn't take York, Executive Vice President and Chief Credit Officer James S. Blood, and a team of experienced local bankers long to convince North Las Vegans that they needed their own bank. The team was able to raise $15 million in start-up capital from investors in only 10 weeks.

It takes most banks 20 to 24 months to become profitable, but Bank of North Las Vegas hit that milestone after only 12 months, and now has 614 accounts, $30 million each in loans and deposits, and $50 million in assets.

James R. York, right, Bank of North Las Vegas president and CEO, talks with Steven Vereen, left, president of Manchester Development, and Steven Roeth, principal partner of Comprehensive Financial Services, at the bank. Photo by Steve Marcus

"It's kind of fun when you start a new bank because you start with zero deposits, zero loans, zero customers," said York, a native North Las Vegan. "We've really had a successful first year and been fortunate, and now we're celebrating that."

But why did it take so long for North Las Vegas to get its own chartered bank?

"It was the wrong side of the tracks," York said. "It was really considered the lower income, less desirable place to develop."

But now with major developers building homes and businesses in the city, tides have turned.

The bank's future headquarters — which will feature drive-through ATMs and tellers as well as a full-service branch — will be located in the Centennial Crossing shopping center on West Centennial Parkway.

York attributed the bank's success to several factors, including a supportive group of local investors.

"We raised the money with local businesspeople who have been here a long time," he said.

The desperate need for banks in the North Las Vegas community, coupled with an economy that has continued to be bullish regardless of the national economy, were also contributing factors.

Another asset was an experience management team in Blood; H. Scott Johnson, executive vice president and chief financial officer; Paul Dreschler, senior vice president and commercial loan officer; and Ron H. York, senior vice president and retail banking manager.

Constuction continues on the 6,000 square foot Bank of North Las Vegas facility at Aliante Parkway and Simmons Street. The bank is now in temporary offices at Simmons Street and Ann Road. Photo by Steve Marcus

"They brought customers from their past lives and past banks, and couple that with one of the fastest-growing cities in the country," said James York, formerly of SouthwestUSA, Silver State and First Security banks and Bank of America.

But York said that possibly the single strongest selling-point of the Bank of North Las Vegas was that it was actually based in North Las Vegas.

"We're truly a local, community bank. We're locally owned and operated. All of the investors are local," said James York. "It's more enjoyable as a banker to sit down and make some common-sense decisions instead of having someone from a large corporation tell you what you can and cannot do."

Mayor Montandon said residents love the hometown feel of the bank.

"They love walking into the bank and being recognized, knowing their banker," Montandon said. "I just go up there and visit sometimes, and it's like family."

And he said it's important for North Las Vegas — as a developing city — to have its own bank, too.

"The last thing I would want when we're negotiating with ... a huge company that's coming to town is to have them go, 'Wow, you don't have a bank?'" Montandon said.

But York said it may not be long until North Las Vegas has not only a bank, but several bank branches as well.

He said his team is already scouting two to three more locations and aims to spread throughout the North Las Vegas market.