• In Organization

Second community bank gets approval to start in Scottsdale


Another community bank is forming in Scottsdale, the second during the past few months after a dearth of filings that lasted years.

Gainey Business Bancorp received approval from the Arizona Department of Financial Institutions to be "in organzation."

That means the bank's board can raise capital by selling shares as it moves toward approval to file a charter application with federal and state authorities. It can do this without being required to have a president or office lease in place.

Read the entire Phoenix Business Journal article

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