Business Spotlight
First Choice Bank
Updated November 19, 2020
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Proclamation presented March 16, 2015 to First Choice Bank at Cerritos City Council Chambers.
First Choice Bank was founded in August 2005 by a group of first generation immigrants, former bankers and consumers who were frustrated with conventional banks. First Choice Bank’s leader and chairman, Peter Hui, is the CEO of another Cerritos business, Hospitality Unlimited Investments, a nationally known hotel brokerage company. Hui suggested that Cerritos be the bank’s headquarters because of the city’s central location at the boundaries of Los Angeles County and Orange County, convenient freeway access, excellent school districts and continual growth
First Choice Bank is a community focused financial institution serving diverse consumers and commercial clients and specializing in loans to small businesses, Commercial and Industrial (C&I) loans and commercial real estate loans with a niche in providing finance for the hospitality industry. First Choice Bank is a Preferred Small Business Administration (SBA) lender and has branches in Cerritos, Alhambra, Rowland Heights, Anaheim, Temecula, Solana Beach and Manhattan Beach.
Cerritos’ unique fusion of different cultures formed the basis for First Choice Bank’s target customers. The bank has tapped into the local pool of high achievers and recruited the best employees to cater to the financial needs of its multicultural clients.
The founders of First Choice Bank shared the same vision. Their objective has always been to build a new banking culture that focuses on customers’ needs first. Since its founding, the bank’s overriding goal has been to help customers reach their goals. The bank’s simple mission is to be “First in Speed, Service and Solutions” for its clients.
First Choice Bank also believes in giving back to the community. It has a tradition of encouraging employees and their families to take part in serving the underprivileged in local neighborhoods. Employees serve Thanksgiving lunches at a women’s shelter, support local convalescent homes and provide financial support to many local and regional charities.
First Choice Bank takes pride in its services. “We take to heart the success of every one of our customers,” said President/Chief Executive Officer Robert Franko. “For us, it is not about making a living in Cerritos, it is about making a life in the community that we serve with honor. The only thing we cannot do for our customers is to make their decisions or dream their dreams. But, for all the rest, there is First Choice Bank. We know our customers have a choice when it comes to banking. We just want to be their First Choice.”
First Choice Bank has two facilities in Cerritos: its headquarters is located at 17785 Center Court Drive, Suite 750 and its second Cerritos branch is located at 12845 Towne Center Drive. The bank’s phone number is (844) 392-2842.
