Sierra Bancorp

11/15/2021 | Press release | Distributed by Public on 11/15/2021 10:05

Bank of the Sierra Announces Tim McAvenia as Mortgage Warehouse Market President

Porterville, Calif. - Bank of the Sierra announced today that Tim McAvenia has been named Mortgage Warehouse Market President. He will be responsible for leading and developing the Bank's mortgage warehouse team. The Bank's mortgage warehouse lending program is an integral part of the Bank's lending strategy. McAvenia's leadership of this key initiative presents an exciting opportunity for Bank of the Sierra to further expand its mortgage warehouse capabilities and focus on helping commercial customers that are looking for a funding partner.

McAvenia has spent more than 30 years in the mortgage and banking industries and has significant experience in warehouse lending, third-party origination, and structured finance. Before joining Bank of the Sierra, McAvenia served as a Principal at TMAC LLC, where he developed a de novo residential warehouse lending program and designed a blockchain-based asset trading platform for warehouse participations. He has also worked for Flagstar Bank, Amherst Holdings, Nationstar Mortgage, and several other financial institutions in his extensive career. McAvenia received a bachelor's degree in economics from University of California, Santa Barbara.

"Tim is a true professional in the mortgage industry, and he will be an excellent leader for our Mortgage Warehouse team," said Michael Olague, Bank of the Sierra's Chief Banking Officer.

About Bank of the Sierra Bank of the Sierra is in its 44th year of operations and is the largest independent bank headquartered in the South San Joaquin Valley. Bank of the Sierra is a community-centric regional bank, which offers a full range of retail and commercial banking services with full-service branches located within the counties of Tulare, Kern, Kings, Fresno, Ventura, San Luis Obispo and Santa Barbara. The bank also maintains a loan production office and an online branch and provides specialized lending services through an agricultural credit center and an SBA center. Bank of the Sierra is recognized as one of the strongest community banks in the country with a 5-star rating from Bauer Financial.

Mitchell Lee, AVP, Communications Manager Matthew Hessler, SVP, Director of Marketing
(559) 782-4900 or (888) 454-BANK