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Real estate developer Buzz Oates said in January that he'd start a new bank this year. With the recent hiring of a president and the filing of an application, his proposed Five Star Bank is on its way to opening in November.
Bob Mulder will take the helm of Five Star Bank, which plans to open in Rocklin with the backing of some of the area's most successful businessmen.
With a president in place, the bank was able last Friday to file application documents with state banking regulators in the Department of Financial Institutions in San Francisco.
"I think it's going to be fun," said Mulder, 55, a veteran of 30 years in banking. "Mat area is so vibrant, and our investors are so committed."
Five Star will have its office on Five Star Boulevard, which puts the bank into the middle of the hot residential and commercial growth markets of Roseville, Rocklin and Lincoln.
Ile bank is backed by a board of directors that includes Mulder; Oates; Michael Stodden, vice president of operations of Buzz Oates Enterprises; Frank Ramos, owner of Ramco Enterprises; Roger Fong, who recently retired...