Nevada’s Community-Bank is on the road to profitability as it welcomes a new CFO to the team.
LAS VEGAS, May 9, 2022 — Lexicon Bank, Las Vegas’ community-focused banking partner, announced the appointment of Paul Yang as its Executive Vice President & Chief Financial Officer, effective Monday, April 25, 2022. Mr. Yang’s addition comes during a significant period of growth as the bank has recently hit $100 million in core loans milestone during its second year.
As Lexicon Bank’s Executive Vice President & Chief Financial Officer, Mr. Yang will oversee all financial and IT operations. With more than 20 years in banking, Mr. Yang is an expert in financial management and operations. His experience ranges from serving as Executive Vice President to President & CEO of various financial institutions sized from $100 Million to $1 Billion.
”I’m thrilled to join the Lexicon Bank team as they continue to make a growing impact in Southern Nevada serving local businesses, non-profits and individuals,” said Mr. Yang. “I am honored to contribute to the advancement that Lexicon is experiencing as they enter their final year as a de novo bank. Ultimately, financial processes and operational integrity are of utmost importance as we push down the road to profitability.”
In 2021, Lexicon Bank continued delivering services to meet client needs, while also improving financial performance. Growth remained essential for the bank in 2021 asLexicon produced $132 million in loans, including $63.4 million in core loans and $68.6 million in PPP loans. Lexicon stood at $247.1 million in total assets and $194.9 million in deposits as of December 31, 2021.
“We are delighted to have Paul join our executive management team as Executive Vice President & Chief Financial Officer,” said Stacy Watkins, Lexicon Bank President & CEO. “Paul’s depth of experience leading various financial institutions through growth will be a tremendous asset to Lexicon as we continue to deliver an agile, personalized private banking experience delivering what Southern Nevada needs now and into the future.”
Executive Profile
Paul Yang is a skilled executive in the financial services industry with over 20 years of experience where his expertise in financial management and financial operations brings excellence in service and financial well-being of the organization.
Mr. Yang displays a strong knowledge of financial and IT operations and thrives in challenging environments. His expertise and background within the financial industry brings additional leadership skills and efficiency to Lexicon Bank as it continues rapid growth serving Southern Nevada.
Key career highlights include:
During the Great Recession of 2007-2009,Yang was able to manage a financial institution from an extreme downturn with the worst devaluation of housing in the nation to a profitable, financially healthy, and growing organization.
● Developed and managed successfully up to $300 million in investments to assist financial institutions to good profitability.
● Improved and modernized financial institutions from revenue, operations, and compliance challenges.
● Developed data analysis to base decisions on products, rates, and services, and also provided a data-based approach to better identify appropriate products and services.
● Developed processes that are efficient and effective with standard level of service for all accounting/support services.
● Established ERM program to set the best possible course of strategies.
Mr. Yang has a Bachelor of Science in Engineering from University of California Los Angeles, and a Master of Business Administration in Finance and Accounting from Regis University in Denver, Colorado.
Lexicon Bank is open in Tivoli Village at 330 S. Rampart Blvd., Suite 150. The bank is open from 9 a.m. to 5 p.m., Monday through Friday, 10 a.m. to 2 p.m. on Saturday, and can be reached by phone at (702) 780-7700 or online at lexiconbank.com. Online services are available 24/7 so you can bank seamlessly from anywhere.
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ABOUT LEXICON BANK
Founded in 2019, Lexicon Bank is Nevada’s community-focused banking partner. Lexicon Bank provides private, personal, comprehensive banking services to business and personal banking clients, placing an emphasis on creating and nurturing a long-term relationship. By providing personalized services to all clients, Lexicon Bank helps to foster Southern Nevada’s economy and community – ultimately helping to grow and develop Las Vegas’ local businesses. The bank is redefining banking as it should be in Southern Nevada by creating a private bank for businesses no matter the size. Lexicon Bank is located in Tivoli Village at 330 S. Rampart Blvd., Suite 150. The bank is open from 9 a.m. to 5 p.m. Monday through Friday, 10 a.m. to 2 p.m. on Saturdays, and can be reached by phone at (702) 780-7700 or online at lexiconbank.com. Follow us on Facebook, Instagram, LinkedIn and Twitter @lexiconbank. Lexicon Bank is a member of the Federal Deposit Insurance Corporation (FDIC).
Media Contacts
Stephanie Downing
Revenue Media Group
p: +1 833-202-1300, ext. 404
c: 502-472-7458
e: stephanie.downing@revenuemediagroup.com
