Alerus Financial Corporation announced it has completed the previously announced acquisition of MPB BHC, Inc., the bank holding company for Metro Phoenix Bank. Founded in 2007, Metro Phoenix Bank is the largest full-service community bank headquartered in Phoenix, with approximately $453 million in total assets, $280 million in total loans, and $402 million in total deposits as … [More]
Microloans Level the Playing Field
The 5 C’s of Credit — character, capacity, capital, collateral and conditions — is an old term that outlines what business owners need to have established to secure financing and grow. The Census Bureau reports that 5.4 million businesses were formed in 2021. Many of these new businesses haven’t had enough time to establish the 5 C’s of credit and therefore may be at a loss as … [More]
Integro Bank Successfully Launches, Dedicated to Help Small Businesses
President, CEO and Founder of Integro Bank, Thomas J. Inserra announced today that it received final regulatory approvals from the State of Arizona and the Federal Deposit Insurance Corporation (FDIC) to disburse its capital from escrow and open the bank. This means the bank is now legally chartered and that its customer deposits have federal deposit insurance protection from … [More]
Arizona Federal Named a Financial Literacy Partner of Local First Arizona Small Business Accelerators
In an effort to grow small business and support minority business owners in partnership with Local First Arizona, Arizona Federal Credit Union is proud to be one of the financial literacy partners for the We Rise and Fuerza Local accelerator programs. These programs focus on providing Black and Hispanic business owners with the support and resources to succeed while … [More]
First Interstate Bank Completes Expansion into Arizona with Great Western Bank Conversion
First Interstate BancSystem, Inc., parent company of First Interstate Bank, announced that effective today, all Great Western Bank locations are now open and operating as First Interstate Bank branches. Arizona has eight locations in eight cities including Scottsdale and Chandler. The successful conversion allows First Interstate to directly serve clients and communities in … [More]
Bank Devoted to Helping Small Business Obtains State of Arizona Conditional Approval
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 … [More]
First Community Bank in Arizona to Launch in More Than 14 Years Holds Grand Opening May 18
Scottsdale Community Bank, the first new community bank in Arizona in more than 14 years, will hold a grand opening ceremony for its investors and special guests on May 18. Scottsdale Mayor David Ortega will speak. The Federal Deposit Insurance Corporation and the State of Arizona provided final approval to Scottsdale Community Bank effective January 10. Arizona has only 10 … [More]
Sarver Retires as Executive Chair of Western Alliance Board, CEO Signs on for Three Years
Western Alliance Bancorporation today announced that Robert Sarver and Steve Hilton will be retiring from their respective roles as Executive Chairman and Director of the Board of Directors of the company and its principal subsidiary, Western Alliance Bank. Their Board terms will end at the company’s annual meeting of stockholders in June. Sarver has served as a director on the … [More]
Leading Valley Funding Group Sells Assets to Michigan Corp., Retains Team
Oxford Commercial Finance Corp., a wholly owned subsidiary of Oxford Bank, is pleased to announce the acquisition of the assets of FSW Funding, and hiring their entire team today. Ms. Robyn Barrett, Owner and Managing Member of FSW Funding, will join the OCF team as SVP - Managing Director, Working Capital Division and lead that segment for OCF. CEO David Lamb commented “The … [More]
Banks and Credit Unions: Understanding the Differences
Bank or credit union? That’s a question most will have when deciding where to begin their financial journey. Credit unions are often misunderstood. In fact, some common misconceptions about credit unions are that strict requirements exist for membership and that credit unions don’t have up-to-date technology. Both may have been true in the past but are no longer the case. … [More]
Bank Introduces New ‘Welcome Home Grant’ Down Payment Program for Homebuyers in Phoenix
With the start of the Spring homebuying season, BMO Harris Bank announced the launch of its new Welcome Home Grant down payment program in Phoenix, which offers grants to eligible borrowers to assist with down payment and closing costs. When paired with other programs offered by BMO, eligible borrowers can receive up to $24,500 in combined assistance. With the help of these … [More]
Their Story: U.S. Bank Access Fund Helps Founder of African Market in Tempe
Florence Amoako, founder of Ako International Market in Tempe, Arizona, just celebrated 20 years in business. She is one of the first to receive assistance through the via Phoenix-based Local Initiatives Support Corporation (LISC) and Retail, Arts, Innovation, & Livability Community Development Corporation (RAIL). Florence Amoako immigrated to the U.S. from Ghana in West … [More]
Kansas-Based Bank with Phoenix Branch Expands Restaurant Finance Group
CrossFirst Bank, a subsidiary of CrossFirst Bankshares, Inc. with a location in Phoenix, announced that it will expand its restaurant finance group that will focus on building trusted relationships with established and high-growth restaurant chains. The Bank hired Bobby Oliver to lead the restaurant finance group as Executive Director, Restaurant Finance Group. “CrossFirst … [More]
