The Borel name stands for tradition and integrity and builds on the legacy of one of Northern California´s “pioneer bankers” and key financial and economic growth leaders, Antoine Borel. When Antoine left his native Switzerland to make his fortune in America´s Gold Country, he struck gold of a different sort and became an enormously successful banker. His older brother, Alfred Borel, had arrived in San Francisco in 1855 and formed A. Borel & Co., commissioned merchants, a few years later branching into banking. Antoine Borel joined the firm in 1861 and took over its management in 1866. He purchased 100 acres of real estate in San Mateo County and built his country estate at the current intersection of Hwy 92 and El Camino Real, where on April 2, 1980 Borel Bank & Trust Company opened its doors for business.
Although A. Borel & Co. was liquidated upon Antoine Borel's death in 1923, banking remained in the DNA of his descendents. His great grandsons, Harold and Ronald Fick, along with their relative, Miller Ream, picked up the mantle with a mission to return the concept of traditional banking relationships to San Mateo. On April 2, 1980, they opened Borel Bank & Trust Company, located on the former grounds of the Borel estate, Harold serving as President & CEO, Ronald the Senior Trust Officer and Miller as Chairman. Borel Bank was a huge success, reaching $10 million in deposits by the end of its first year. The Bank continued to prosper and soon outgrew its location. It was decided to build a new building on the site of the last two remaining structures of the old Borel estate and Borel Bank & Trust Company moved into its new headquarters in March of 1987, which continues to serve as the San Mateo Office and headquarters.
In 2001, the Board of Directors and management of Borel agreed to be acquired by Boston Private Financial Holdings, whose philosophy allowed Borel to maintain local decision making while facilitating its desired rate of growth. The acquisition was complete on November 30, 2001. In 2002, Borel added the word “Private” to its name to reflect the company´s practice of providing customized financial services and solutions in a confidential environment.
With the ability to grow assets without capital restrictions, afforded by the backing of its new holding company, Borel embarked on geographic expansion in 2002, opening its first branch office in Palo Alto on October 7, 2002. The downtown San Francisco office followed on July 13, 2004 and little more than a year later, on November 25, 2005, the Los Altos office began serving it's community. The city of Burlingame welcomed Borel Private Bank to downtown on December 3, 2007.
Borel Private Bank & Trust Company can proudly declare that every one of its nearly 30 years of existence was a profitable one. The Bank was able to provide value to its shareholders, borrowers and depositors alike, with solid returns to shareholders and exceptional service to its borrowers and depositors. It was exciting to see the bank reach $10 million in deposits by the end of 1980, its first year of existence. Eight years later deposits stood at $100 million. $200 million was reached in 1997 and from there the growth took on an accelerated pace. In 2003 the Bank reached $500 million in deposits. The milestone of $1 billion in deposit was reached for the first time in March of 2007.
The Borel family continues to be active in the leadership of the bank. When Harold Fick turned the reins of President and CEO over to his brother, Ronald Fick, in May of 1999, he continued to serve on the Board of Directors as Vice Chair, a position he still holds today. Harold´s son, Stephen Borel Fick, serves as manager of the Los Altos Office.
When Ronald Fick retired in 2004, John A. Conover was appointed President & CEO of Borel Private Bank & Trust Company. Prior to joining Borel, Mr. Conover served as executive vice president at Bank of America. With over 30 years of experience, Mr. Conover has been involved in every aspect of banking, including commercial banking and managing 225 Bank of America branches throughout the greater Bay Area. In addition to his extensive banking background, Mr. Conover is a noted philanthropist, a philosophy that was a perfect match for Borel´s commitment to building relationships in the communities we serve. Borel Private Bank & Trust Company has come a long way – from a single location, community bank and a belief in having “roots not branches” to a regional banking presence with five locations. Today, we like to say, “Borel has roots and branches.”