A group in Irvine, Calif., is looking to open a bank.
Organizers of Beach Cities Commercial Bank applied with the
Federal Deposit Insurance Corp. on Sept. 27 for deposit insurance. They plan to raise $25 million to $27 million in initial capital, according to the
application.
“The bank plans to provide better service than is currently
available to customers in the bank’s market areas, using the skills and experience
of a team of seasoned bankers who have been involved in the target market for many
years,” the application said.
“The bank plans to serve the banking needs of small- and
medium-sized businesses, business professionals and business owners in the bank’s
market areas through the provision of traditional business banking products and
services tailored to those business clients’ unique needs,” the application
added.
Organizers plan to open a second branch in Encinitas, Calif.
H. Kent Falk is the proposed bank’s CEO. Falk is listed as a
former chief credit officer at Partners Bank in Mission Viejo, Calif., according
to his LinkedIn profile.
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