Integro Bank (In Organization) announced that it obtained conditional approval from the State of Arizona Department of Insurance and Financial Services to open a new bank devoted to helping small businesses. Among the conditions for opening the bank is a requirement to raise a minimum of $27.9 million in capital and for the bank to obtain regulatory approval from the Federal Deposit Insurance Corporation (FDIC) for deposit insurance.
“With this state regulatory approval representing a major milestone, our team is now focused on collecting the remaining funds from our investor pipeline so that we can open the bank,” stated Thomas J. Inserra, CEO & Founder. “Our mission of helping small businesses grow and increase employment is about to begin, so stay tuned for future announcements of our opening.” Integro Bank is planning a grand opening date in mid-2022.
Integro Bank (In Organization) is a proposed de novo bank based in Phoenix, Arizona (USA). Our proprietary Integro-360 consultative approach and CEO Club are designed to help small business grow and maximize employment.
