Rabobank International of the Netherlands announced Wednesday that it had received a national bank charter and changed the name of its California subsidiary from Valley Independent Bank to Rabobank NA.
Valley, of El Centro, had been state-chartered. The $600 billion-asset Rabobank said in a press release that expansion beyond California will be easier for the former Valley now that it has the national charter.
The new name took effect Monday.
Rabobank, seeking to establish itself as a retail agricultural lender in the United States - with a long-term goal of being a leading U.S. ag lender - bought Valley in 2002 to get a retail foothold.
