Monthly Archives: July 2015

Eighth Consecutive Quarter of BauerFinancial 5-Star Rating for Grandpoint Bank and its Divisions

5starjun15It means a lot to us to have our clients’ trust, and we work hard to maintain it. We know you want to have top-notch business advisors and a rock-solid financial institution at your disposal, and on that note, we’re happy to share that Grandpoint Bank and its divisions The Biltmore Bank of ArizonaRegents Bank and Bank of Tucson received an eighth consecutive 5-Star rating for strength, stability and soundness from independent rating and research firm BauerFinancial.↗ The five star rating, which was based on March 31, 2015 financial data, goes only to banks that are considered the strongest in the nation.

BauerFinancial is regarded as “the nation’s bank rating service,” and banks cannot pay to be rated nor opt out of being rated. Ratings, which range from zero to five stars, are determined by a bank’s capital strength, asset quality and profitability, using quarterly financial reports filed with the government by each bank, with historical comparison for consistency.

First quarter results also earned Grandpoint and its divisions another A+ health rating from DepositAccounts.com,↗ an independent bank health monitoring publication covering banks for nearly a decade. Grandpoint has earned their A+ rating for 17 consecutive quarters.

DepositAccounts.com provides information about bank health free of charge to consumers. Using a proprietary algorithm, DepositAccounts.com’s ratings reflect the strength and stability of more than 14,000 financial institutions.

Thanks to all of our wonderful team members and clients who help make this possible.

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This icon appears next to every link that directs to a third party website not affiliated with Biltmore Bank. Please be advised that if you click this link you will be taken to a website hosted by another party, where you will no longer be subject to, or under the protection of, the privacy and security policies of Biltmore Bank. We recommend that you review and evaluate the privacy and security policies of the site that you are entering. Biltmore Bank assumes no liability for the content, information, security, policies or transactions provided by these other sites.

The Biltmore Bank of Arizona celebrates 12 years in business

12-years-in-businessTime flies when you’re having fun, so it’s hard for us to believe that we’re celebrating our twelfth year in business at The Biltmore Bank of Arizona. In honor of this cool news, our cool staff and our ultra-cool clients, we’re commemorating the occasion with a list of our top 12 ways to stay cool in this sizzling Phoenix heat. (It’s a dry heat, though, right?)

  1. Hang out with your favorite Biltmore Bank of Arizona banker at our air conditioned office. What better time to come in and discuss how we can help your business?
  2. Our friends at Artie’s Ace Hardware↗ tell us that they have fans and window A/C units- and even snow cone machines – if you’re in need.
  3. Catch up on your summer blockbuster movies – movie theaters are great for cooling down.
  4. How about a staycation/playcation at one of our area hotels? The Scottsdale Plaza Resort↗ has five pools/spas, and the main freeform pool features a family-friendly vibe with drinks, snacks and cocktails available at their Café Cabana poolside restaurant. Or, head north a bit to Pinetop’s Holiday Inn Express↗ where it’s probably at least 20 degrees cooler.
  5. Hit a local waterpark! We’ve got Big Surf, Mesa Golfland SunSplash↗ and Wet ‘n’ Wild Phoenix↗
  6. Have friends over for a smoothie competition – everyone brings fixings for their favorite smoothie. (We won’t tell if a splash of adult beverage might be one of your ingredients.)
  7. Don’t feel like toiling over a hot stove for dinner? Go out for a meal at a nearby restaurant with a misted patio, like Cold Beer and Cheeseburgers.↗ No misted patio, but we also love Tarbell’s↗ and Vincent.↗
  8. Local libraries offer air conditioning, books and videos, as well as interesting lectures and programs…and they’re free!
  9. Museums also offer refuge from the heat, and with a wide variety of museum choices, Phoenix has something for everyone.
  10. If you want to really splurge, rent out the suite at Chase Field that features a swimming pool.
  11. Whether it’s with your kids, your friends or your significant other, bowling is a great way to feel like you’ve been active without having to sweat buckets. And, you’ll still probably feel muscles the next day that you didn’t realize you had.
  12. If all else fails, plan an escape to Phoenix of the West (San Diego).

Thanks to everyone who has believed in us and banked with us. We’re excited about what the future holds for our bank and for all of the wonderful businesses we support. Twelve years…how cool.

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↗ Linking to Non-Biltmore Bank Websites

This icon appears next to every link that directs to a third party website not affiliated with Biltmore Bank. Please be advised that if you click this link you will be taken to a website hosted by another party, where you will no longer be subject to, or under the protection of, the privacy and security policies of Biltmore Bank. We recommend that you review and evaluate the privacy and security policies of the site that you are entering. Biltmore Bank assumes no liability for the content, information, security, policies or transactions provided by these other sites.

Creating niche expertise in the renewable energy industry

Rich_Endicott-2542_portraitBy Rich Endicott, President, The Biltmore Bank of Arizona

Solar power is no longer a new technology; it’s a proven alternative energy source, which I’ve even put to work at my own home. The result is that I’m paying much less than I used to pay in energy costs. I know that many of the projects that The Biltmore Bank of Arizona has funded have brought similar savings to businesses, homeowners and non-profit organizations.

Biltmore’s working relationship with Main Street Power and MS Solar Solutions has allowed the bank to support the solar power industry but also to participate in projects that support our local community. Organizations like the Paradise Valley School District, Boys & Girls Clubs, Yuma Airport, Arizona State University and Valley of the Sun Jewish Community Center

It is always smart to do your homework, so before making our first renewable energy loan, we spent 18 months educating ourselves on the industry nuances and developing alliances with market leaders and solar industry experts. We drew upon their knowledge, and then we applied our decades of banking expertise to develop niche products and services that support the unique needs of the solar industry.

We believe in the tremendous potential of the renewable energy industry, and, today, we have established ourselves as a premier solar finance provider for businesses, government offices, schools and homeowners across the Southwest and beyond.

Main Street Power and MS Solar Solutions

Biltmore’s partnership with Main Street Power, a developer of distributed solar projects in the 300-kilowatt to 5-megawatt range (which was recently acquired by AES), and MS Solar Solutions (MSSS), a wholly-owned subsidiary of Morgan Stanley, began early in 2010. We used our 30-plus years of banking experience to establish renewable energy loan structures that provide long-term solar energy financing solutions. The significant relationship we have today comprising several large financial commitments is a result of our continued friendships with Phil Henson of AES Main Street Power↗ and Jorge Vargas at MSSS.↗

In 2011, Biltmore participated in the first solar project with MSSS and Main Street, and we have become a primary debt financing partner on many of their Arizona-based solar projects. To date, Biltmore has helped Main Street and MSSS complete several high-profile state, county and municipal solar projects, as well as private projects. In total, Biltmore has participated in projects approaching $100 million dollars.

AES Main Street and MSSS tell us that they continue to work with the Biltmore team because they appreciate our responsiveness when it comes to identifying, reviewing and taking action on potential projects. They also value the increased capabilities that Biltmore can offer as part of the Grandpoint Bank family.

Today, providing financing for our clients’ individual projects, from modest to upwards of $30 million, is well within our reach. For Biltmore’s part, we enjoy the ability to partner with organizations that have a significant understanding and strong track record in the renewable energy space.

We look forward to pursuing the potential the solar industry sector offers to Arizona for as long as the sun shines.

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↗ Linking to Non-Biltmore Bank Websites

This icon appears next to every link that directs to a third party website not affiliated with Biltmore Bank. Please be advised that if you click this link you will be taken to a website hosted by another party, where you will no longer be subject to, or under the protection of, the privacy and security policies of Biltmore Bank. We recommend that you review and evaluate the privacy and security policies of the site that you are entering. Biltmore Bank assumes no liability for the content, information, security, policies or transactions provided by these other sites.

Happy Independence Day

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In observance of our nation’s birthday, we wish everyone a happy 4th of July.

In honor of the holiday, we’d like to share some history about the American flag with you from usa-flag-site.org↗:

On January 1, 1776, the Continental Army was reorganized in accordance with a Congressional resolution which placed American forces under George Washington’s control. On that New Year’s Day the Continental Army was laying siege to Boston which had been taken over by the British Army. Washington ordered the Grand Union flag hoisted above his base at Prospect Hill. It had 13 alternate red and white stripes and the British Union Jack in the upper left-hand corner (the canton).

In May of 1776, Betsy Ross reported that she sewed the first American flag.

On June 14, 1777, in order to establish an official flag for the new nation, the Continental Congress passed the first Flag Act: “Resolved, That the flag of the United States be made of thirteen stripes, alternate red and white; that the union be thirteen stars, white in a blue field, representing a new Constellation.”

Between 1777 and 1960, Congress passed several acts that changed the shape, design and arrangement of the flag and allowed for additional stars and stripes to be added to reflect the admission of each new state.

  • Act of January 13, 1794 – provided for 15 stripes and 15 stars after May 1795.
  • Act of April 4, 1818 – provided for 13 stripes and one star for each state, to be added to the flag on the 4th of July following the admission of each new state, signed by President Monroe.
  • Executive Order of President Taft dated June 24, 1912 – established proportions of the flag and provided for arrangement of the stars in six horizontal rows of eight each, a single point of each star to be upward.
  • Executive Order of President Eisenhower dated January 3, 1959 – provided for the arrangement of the stars in seven rows of seven stars each, staggered horizontally and vertically.
  • Executive Order of President Eisenhower dated August 21, 1959 – provided for the arrangement of the stars in nine rows of stars staggered horizontally and eleven rows of stars staggered vertically.

Today the flag consists of thirteen horizontal stripes, seven red alternating with 6 white. The stripes represent the original 13 colonies, the stars represent the 50 states of the Union. The colors of the flag are symbolic as well: Red symbolizes Hardiness and Valor, White symbolizes Purity and Innocence and Blue represents Vigilance, Perseverance and Justice.

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↗ Linking to Non-Biltmore Bank Websites

This icon appears next to every link that directs to a third party website not affiliated with Biltmore Bank. Please be advised that if you click this link you will be taken to a website hosted by another party, where you will no longer be subject to, or under the protection of, the privacy and security policies of Biltmore Bank. We recommend that you review and evaluate the privacy and security policies of the site that you are entering. Biltmore Bank assumes no liability for the content, information, security, policies or transactions provided by these other sites.