type private industry banking founded 1905 headquarters walnut creek ca number of locations 30 key people kenneth d. russell president ceo carl b. webb chairman e. michael downer vice chairman products financial services website www.mechanicsbank.com mechanics bank hq walnut creek mechanics bank is a community banking financial institution headquartered in walnut creek california 1 2 it was founded in 1905 and serves markets in northern california . it operates in the san francisco bay and sacramento areas . the bank has over 3.5 3 billion 4 in assets and over 500 associates 5 at 30 retail branches . 6 contents 1 background 2 early years 3 expansion 4 references 5 external links background edit mechanics bank was originally chartered as the iverson bank and trust company founded in richmond in 1905 . it was renamed as the mechanics bank in 1907 . shortly after it was renamed edward m. downer joined the organization and by 1919 he had purchased a controlling interest and soon became president . e.m. downer 1869 1938 was a prominent official in the town of pinole who created the bank of pinole the precursor to mechanics bank . 7 in 1889 at the age of 20 e.m. downer was appointed as transfer agent and telegrapher for southern pacific railroad s pinole depot railroad station . 7 the depot became the town hub and he subsequently opened a laundromat and started the the pinole weekly times newspaper . 7 later the depot was selected as the location for the infant city s first post office and downer became the first postmaster . 7 after the community incorporated in 1903 he became the first city clerk and afterwards mayor . 7 the beginnings of the bank were in 1905 when e.m. downer began offering financial services to his acquaintances from a floor safe in his office . 7 this was a great convenience to the residents because the closest bank at the time was at the contra costa county seat at martinez 13 miles 21 km away . 7 in 1915 he became second vice president and later in 1919 after purchasing a controlling interest he became president until his death in 1938 . 7 he was succeed by his son e.m. downer jr. in 1939 who served as president until 1978 . 8 early years edit after starting the bank of pinole in 1905 e.m. downer joined mechanics bank in richmond . the downer family has led mechanics bank through most of its history starting with e. m. downer who ran the bank through the 1920s boom years when richmond was a major west coast industrial center . 6 mechanics bank served standard oil santa fe railroad the ford motor company and their employees during this period . 6 7 downer also successfully led the bank through the great depression while many other banks succumbed . 6 7 in 1939 e.m. downer jr. became president . during world war ii richmond became a major hub of industrial and shipping activities and the bank experienced explosive growth as did richmond . 6 7 over 70 000 new residents were attracted to the city largely to the richmond kaiser shipyards and other world war ii home front industries see rosie the riveter national park . 6 mechanics bank created the first personal automobile and appliance loans in northern california in addition to the first drive in banking operation . 6 from 1941 to 1945 the bank more than quadrupled in size . 6 expansion edit e.m. downer iii became president in 1971 . 6 9 in 1980 the bank moved its headquarters to the hilltop neighborhood of richmond california . 6 in 1990 the bank began expanding outside of western contra costa county adding offices in walnut creek pleasant hill concord oakland marin county and napa valley . 6 this was followed by later additions of mechanics bank offices in san francisco el dorado hills elk grove roseville and lafayette . in 1995 the bank reached 1 billion dollars in assets . 9 in 2009 during the global financial crisis the bank refused 60 million dollars in bailout money tarp . 2 the bank is currently remodeling all of its retail locations to be leed certified as part of an effort to go green . 10 in 2010 dianne daiss felton d.d. the great granddaughter of e.m. downer was named chairman of the board . at the same time e.m downer s great grandson e. michael downer was named vice chairman of the board and e.m. downer iii eddie was named chairman emeritus . in september 2014 texas billionaire gerald j ford disclosed a tender offer to buy 51 % of the bank . 11 references edit www.mechanicsbank.com . a b banks that have said no thanks to us bailout the associated press 29 01 2009 access date 01 29 2009 2015 annual report pdf . mechanics bank says no thanks to 60m treasury investment by mark calvey san francisco business times 24 01 2009 access date 29 01 2009 mechanics bank careers https www.mechanicsbank.com access date 15 06 2011 a b c d e f g h i j k mechanics bank fact sheet https www.mechanicsbank.com 24 01 2008 access date 29 01 2009 a b c d e f g h i j k e.m. downer https www.mechanicsbank.com access date 29 01 2009 e.m. downer jr. https www.mechanicsbank.com access date 29 01 2009 a b e.m. downer iii https www.mechanicsbank.com access date 29 01 2009 banking on the environment by michael scheibach bank news publications may 2008 access date 29 01 2009 texas billionaire buys mechanics bank . retrieved 2016 08 20 . external links edit official website v t e richmond california neighborhoods brickyard cove carriage hills campus bay chevron richmond refinery downtown richmond el sobrante hills hercules hilltop hilltop green iron triangle marina bay richmond heights north & east parchester village pinole california point isabel point richmond pullman richmond annex rodeo parks eastshore state park brooks island kennedy grove miller knox point isabel point pinole point molate beach park potrero ridge red rock cove rosie the riveter world war ii home front national historical park san pablo peninsula sobrante ridge wildcat canyon richmond greenway points of interest brother islands castro rocks east brother island lighthouse ford richmond plant golden state model railroad museum hilltop mall macdonald 80 shopping center masquers playhouse mechanics bank red rock island point molate naval fuel depot ss red oak victory ship museum richmond country club richmond shipyards richmond medical center richmond transit village metro walk the plunge west county detention center winehaven pacific east mall education contra costa college west contra costa unified school district de anza high school john f. kennedy high school richmond high school salesian high school transportation 23rd street ac transit bart capitol corridor cutting boulevard i 80 i 580 macdonald avenue port of richmond richmond parkway richmond parkway transit center richmond station richmond san rafael bridge richmond san rafael ferry company shipyard railway san pablo avenue sr 123 politics 2006 richmond california city election 2014 richmond california city election city council richmond progressive alliance richmond post richmond globe 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