Bob Borgman became a San Diego banker just in time for the 21st century. Formerly with the First National Bank of Denver, Borgman moved west to become chief credit officer of Orange County-headquartered Western Bancorp in 1997. Two years later Western was merged into U.S. Bank. In 2000, Borgman was recruited to John Eggemeyer’s First Community Bancorp as chief credit officer.

In 2002, First National Bank was merged with the Bank of Coronado, Rancho Santa Fe National Bank and the Capital Bank of North County to form a much larger First National, now one of the region’s largest community banks at $1.2 billion in assets.

Soon after, Borgman moved from the holding company to the President/CEO chair at First National. Borgman says he never thought about getting the top job, but “I already knew and worked with everybody” while at the holding company.

First National’s sister bank is L.A.’s Pacific Western National Bank which has 34 branches in L.A., Orange, Riverside and San Bernardino counties. In December, First Community bolstered its L.A. front with its $238 million purchase of Foothill Independent Bancorp, with 12 branches across Los Angeles, Riverside and San Bernardino and about $1 billion in assets.

In January, First Community completed its $120 million acquisition of L.A.-based Cedars Bank, with seven branches and about $438 million in assets.

With Foothill in tow, Borgman says First Community will swell to about $4.6 billion. First Community’s effect on its components is obvious: First National alone has a lending limit of $20 million. But throw in Bancorp’s participation and the limit doubles. First National’s clout, then, is big-bank capacity coupled with local decision making.

Borgman says a hefty 50 percent of First National’s loan portfolio is in some form of real estate, but says he is not worried about it because “we’re not doing the large projects, we’re doing the infill projects, and the developers we work with are not getting in over their heads.” The CEO also says rising interest rates aren’t a concern, since a healthy percentage of First National’s deposits are in no-interest-bearing checking accounts.

Away from the office, Borgman strums a variety of guitars. “I play bass guitar at church, a six-string for fun, and pedal steel for country music,” he says.

But what to do with all that lending and purchasing power in a rising interest rate environment? Maybe Eggemeyer will buy another bank.