State hails new Scottsdale Community Bank | Business

Jhe Arizona Department of Insurance and Financial Institutions welcomed the opening of Scottsdale Community Bank, which was granted the state’s first independent bank charter in more than 14 years.

“Scottsdale Community Bank’s willingness to invest in Arizona demonstrates the state’s strong position as a great place to do business and the need for continued banking expansion. Community banks continue to play an important role in the nation’s banking industry, and I welcome this addition to the Arizona banking community,” said DIFI Director Evan Daniels.

The newly licensed full-service commercial bank opened at 8767 E. Via De Ventura after receiving final regulatory approval from the state and the Federal Deposit Insurance Corporation.

Benefiting from “personalized financial services while taking advantage of market opportunities with small and medium-sized businesses, particularly those wishing to pursue product offerings with local decision-making and concern for the Scottsdale community”, the bank is locally owned and managed.

“There is a tremendous banking opportunity in Arizona, which is one of the fastest growing financial and business centers in the country, but one that is significantly underserved,” said Neill LeCorgne, president and chief executive officer of the Scottsdale Community Bank.

He noted that Arizona has just 10 community banks compared to 410 in Texas, 401 in Illinois, 144 in California and 41 in Utah.

“Our greatest opportunity is rooted in our local decision-making and delivery of our products and services through the most innovative banking platforms available in the industry today,” added LeCorgne. “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.”

Vice Chairman Hemant Patel said the leadership team includes people with extensive experience in banking, business, nonprofits and public service, including long-time community leaders. dates from Scottsdale and Arizona.

He said the approval process involved a 1,000-page application, extensive background checks of board members and executives and even a pandemic banking forecast.

“We raised over $19 million in capital, $3 million more than planned, from more than 200 insightful founders who saw the urgent need in our community for an innovative and effective bank that truly delivers personalized attention and prompt financial services to his clients,” Patel boasted, “One of our benchmarks is: ‘Doing good for our investors by doing good for the community’.”

SCB plans to partner with other financial institutions on various projects of common interest.

Sandra Watson, President/CEO of the Arizona Commerce Authority, congratulated Chairman of the Board, George Weisz, saying, “As the first new community bank in Arizona in nearly 15 years, the personalized services of the Scottsdale Community Bank to small, medium and family businesses demonstrate their commitment. to support local business growth.

Mayor David Ortega also said he welcomed the new bank.

“It’s a significant sign of the thriving economic climate that Scottsdale’s business community and government sector have been producing for years,” he said, predicting the bank “will bring local banking and financial services to points to our businesses, which are the cornerstone”. of our thriving economic engine.

Arizona Bankers Association President Paul Hickman said the bank “brings additional energy, technology and resources to our dynamic financial landscape at a time when our community needs it most.”

Those interested in becoming founding members of the bank can email [email protected]

Information: scottsdalecommunitybank.com.

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