Commercial Lending Targeted by Bank

Charles Elliott Jr., the new president and chief executive of Oxnard-based Channel Islands National Bank, intends to emphasize commercial lending, including loans backed by the federal Small Business Administration.

“I wouldn’t even rule out commercial real estate loans if they’re part of a sound business plan,” said Elliott, who formerly was executive vice president of City Commerce Bank in Santa Barbara. “The thing to avoid is speculative real estate.”

Elliott succeeds Martin T. Daly, who resigned last month as head of the three-office bank.