The highly anticipated Scottsdale Community Bank is opening its doors, becoming the first new community bank in Arizona in more than 14 years. Scottsdale Community Bank received final approval from the Federal Deposit Insurance Corporation and the State of Arizona effective January 10, and it plans to hold its grand opening for the public within the next 60 days.
“We are changing the face of business banking in Arizona by combining cutting edge FINTECH technology with true relationship banking,” said George Weisz, Scottsdale Community Bank Board Chair. “This is a dynamic bank for a dynamic community. Our focus is on providing personalized concierge banking services to growth-minded small and mid-size businesses, non-profit organizations, and family businesses. We have created a high-caliber, innovative financial institution that will be a valuable resource for our community. It has a local commitment with a global vision. This will be a TRUE community bank.”
Weisz adds: “This historic new bank is a significant signal, at the very start of the New Year, of forward-looking economic growth and a positive financial outlook for Scottsdale, the Valley, and the State of Arizona. The New Year is bringing an exciting new bank.”
Scottsdale Community Bank is locally owned and locally managed, so it is uniquely able to provide both speed and service in its operations and decision-making. While the bank can provide service anywhere in Arizona, its primary market area stretches from the thriving businesses in the Scottsdale Airpark on the north, to family offices in Paradise Valley, to the many medical entities along our “Cure Corridor”, through Old Town Scottsdale and its shopping and arts/entertainment district, to the excellent enterprises on the Salt River Pima-Maricopa Indian Community, through the McDowell Road revitalization area and businesses in east Phoenix, and to Arizona State University and its SkySong Innovation Center.
As veteran banker Neill LeCorgne, President and CEO of Scottsdale Community Bank, noted: “There is a tremendous banking opportunity in Arizona which is one of the fastest growing financial and business centers in the nation, yet is drastically underserved.” Arizona has only 10 community banks compared with 410 in Texas, 401 in Illinois, 144 in California, and even 41 in Utah. LeCorgne added: “Our greatest opportunity is rooted in our local decision-making and having our products and services delivered through the most innovative banking platforms available in the industry today.”
LeCorgne adds: “While we have a conveniently placed centralized office, our location is truly wherever our customers need it to be. If you want a banker who answers your calls, actually listens to you, and makes house calls to your business, then we are your bank.”
LeCorgne explains: “Scottsdale Community Bank operations are designed for the convenience of our clients which include meeting at their offices with tablet technology to handle various transactions on the spot.”
Vice-Chair Hemant Patel said: “We have put together one of the finest banking leadership teams in the nation with extensive backgrounds in banking, business, non-profit, and public service, including long-time Scottsdale and Arizona community leaders.” This team has been methodically working towards this momentous opening and went through a lengthy, detailed inspection and approval process by federal and state agencies including the filing of its 1000-plus page application, thorough inquiries of its board members and top executive officers, and even drafting a pandemic banking forecast. Patel says: “We raised over $19 million in capital, which was $3 million more than targeted, from over 200 insightful Founders who saw the dire need in our community for an innovative, efficient bank that truly provides personalized attention and swift financial services to its clients.” Patel adds: “One of our guideposts is: ‘Doing well for our investors by doing good for the community.’”
The establishment of Scottsdale Community Bank is a testament to the outstanding business and government leadership in our state and cities, especially during our current challenging times. Scottsdale Community Bank, also known as “SCB”, also recognizes the very healthy banking industry in Arizona with its excellent leadership. SCB plans to partner with other financial institutions on various projects of mutual interest.
Scottsdale Community Bank appreciates the outstanding professionalism and dedicated work of the FDIC and the Arizona Department of Insurance and Financial Institutions in diligently carrying out their responsibilities throughout the application process and beyond. Their staffs have always been very responsive and maintain a cooperative spirit to ensure that we have a healthy, secure, and accountable financial industry. Scottsdale Community Bank was granted a Certificate of Insurance from the FDIC and a Banking License from the State of Arizona.
“We are excited to welcome Scottsdale Community Bank to Arizona’s dynamic finance sector and business community,” said Sandra Watson, President and CEO of the Arizona Commerce Authority. “As the first new community bank in Arizona in nearly 15 years, Scottsdale Community Bank’s personalized services to small, medium, and family businesses demonstrates their commitment to support the growth of local businesses. Congratulations to Board Chair George Weisz, President and CEO Neill LeCorgne, and the entire team.”
Scottsdale Mayor David Ortega remarked: “I am elated that Scottsdale Community Bank has chosen Scottsdale to establish the first new community bank in Arizona in 14 years. This is a significant sign of the thriving economic climate that Scottsdale’s business community and government sector have been producing for years. Congratulations, Board Chair George Weisz! Scottsdale Community Bank will bring local banking and cutting-edge financial services to our businesses, which are the lifeblood of our flourishing economic engine.”
Arizona Bankers Association President Paul Hickman said: “Scottsdale Community Bank is a welcome addition to our thriving banking industry in Arizona. Its excellent leadership team of highly respected business and community leaders brings additional energy, technology, and resources to our vibrant financial landscape at a time when our community needs it the most.”