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Bank to move to high-profile building

Former home of Flintridge Bookstore will be occupied by financial institution with deep roots.

October 05, 2011|By Daniel Siegal, daniel.siegal@latimes.com

Three years after Los Angeles-based Gilmore Bank opened a branch office on Rinetti Lane in La Cañada Flintridge, it is moving to Foothill Boulevard at Angeles Crest Highway.

The new location for the Gilmore branch was formerly the home the Flintridge Bookstore, which relocated in February of this year. The site is known for the 2009 runaway truck crash that killed two and ended with the truck smashing into the building’s storefront.

The bank’s headquarters is on Fairfax Avenue, adjacent to the Los Angeles Farmer’s Market, which is also owned by the Gilmore family. The Gilmores have had roots in the Southland since the 1870s.

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Doug Spencer, president and chief executive of Gilmore Bank, said the goal is to complete the La Cañada branch move by the end of the year.

“Well, we’ve been there in the current location for a couple years and so we wanted to see how it did, and we’re thrilled with the community,” said Spencer. “We believe that [the new location] will add a substantial amount of deposits to our footprint.”

As for the danger of another truck crash, Spencer said that he’s heard the concerns of residents, but is confident that the location isn’t in danger.

“Obviously, everywhere I go in La Cañada that’s what I note,” Spencer said, “and yeah, we think it’s safe.”

The location was also a convenient fit because the property owners, the Totta family, have a history with the Gilmore family, said Spencer.

“The Totta family, they actually used to work on the Gilmore trucks years ago, so it was just sort of a natural fit,” said Spencer.

Pat Anderson, president of the LCF Chamber of Commerce, said she thought it was a smart move for the bank.

“It gives them high visibility, it gives them a larger space, and it also provides parking in the rear for their customers,” said Anderson.

Anderson said that it was also a positive move for the city to have a business move into the space.

“I think it’s good for the city, it reduces one vacancy,” said Anderson. “And it’s a vacancy that’s in a high-profile area.”

Rolando Morales, manager at Gilmore Bank’s La Cañada branch, said the move was the culmination of a longtime desire.

“We’ve always wanted to be on Foothill Boulevard, it was our goal,” said Morales. “It’s just we finally got the right place at the right time.”
 
 

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