Circle Bank has been named Best Company to Do Business with in Marin County for four out of the last six years. After talking with CEO Kim Kaselionis, it’s apparent that the secret of the financial institution’s continued success is about people. “Just like any other retail service-oriented company, banking, at the end of the day, is a people business,” says Kaselionis, “If you want people to do business with you, you have to treat them with respect, you have to listen to them, you have to be able to work through difficult times with them. I think people just want to be treated like human beings!”
Simple as it sounds, “being treated as a human being” may not be the first thing that comes to mind when the subject of “banks” comes up, especially given the crises of recent times. But to Kaselionis, it’s the Circle Bank way—and the standard that sets it apart. “I think there’s a dramatic difference in philosophy between not only large and small banks, but also among banks themselves,” she says. “I think people like doing business with us as a business. So our philosophy and our approach is really reflected in this mission.
“We want to be the hub and the referral source for our clients and their financial needs and the services they need irrespective of whether we actually provide them as part of our suite of products,” she continues. “We do a lot of market-driven loan products. So if there’s a need in the community, we’ll create a loan product. I think that’s one reason our clients like to do business with us—because we’re very engaged in our community and we’re willing to do things that others may just think about.”
For example, Circle Bank recently posted its 50th consecutive quarter of profits, and to share in the celebration, it partnered with Molly Stone’s market and the Marin Community Foundation to deliver 50,000 pounds of food to the three food banks in the community. “We do this just to say, ‘Thank you for allowing us to serve,’” says Kaselionis. “We appreciate having the opportunity and, as we’re profitable and flourish, we want to give back to our community.”
It’s also created other unique relationships within the community, such as the work it does with Homeward Bound, a provider of shelter and support services for homeless families and homeless individuals in Marin County. “It has a culinary school on its Hamilton campus, and we buy the raw cookie dough that the students make as part of their culinary certification and training. So the cookie dough is delivered to our six branches, which are equipped with kitchens, and we bake cookies for our customers every day,” she says. “So it creates a win-win-win, for the bank, our clients and for Homeward Bound.”
Kaselionis has been CEO at Circle Bank for nearly 16 years and has seen the organization grow from one branch and $11 million in assets to, now, six branches in three counties (Sonoma, Marin and San Francisco) with assets approaching $315 million. “We did it the old-fashioned way. We opened every branch from the ground floor.”
Questioned about how the bank has maintained its standards through the recent slump, Kaselionis’ answer goes to the core of the bank’s mission: “It’s about sticking to your core competencies,” she says. “We know our markets very well, and during 2008, 2009 and 2010, when so many others were chasing loans of all kinds, we stuck to our neighborhood. And with sound risk management practices, we were able to steer our way through this.”
The “Circle” in the bank’s name signifies the core philosophy that, “If we lend money to businesses, then businesses can position themselves for growth. They can increase their inventory and hire more people, so more people have jobs and can afford to live here—and spend their money here. This brings increased revenues from sales tax, so the cities have more money to invest in infrastructure.”
In addition, to the extent that the bank is successful and can give back to local nonprofits, both in terms of financial resources and human capital, then those organizations can help transition people through training, housing or counseling services to get them back on their feet, so they can become productive members of society, then part of the workforce and, ultimately, Circle Bank customers in good standing. It all goes around.
“We believe strongly that we’re all interdependent,” she says. “When we do something good, it has an exponential effect for society. We feel very fortunate to be able to live and work here, and to hire outstanding staff to serve the community in which we’re located. It’s truly a blessing to be surrounded by such marvelous giving, caring, wonderful, people. We’re living our commitment and it feels great!”
