The $57 million-asset de novo said in a press
release Wednesday that it had formed the Genesis Bank Institute for
Entrepreneurship, a business accelerator and advisory division. The group will
focus on accelerating entrepreneurship and growth for businesses, government
and municipal entities, commercial enterprises and nonprofits.
Through partnerships, Genesis would offer trust
and estate planning, insurance, leadership development and strategic planning
services. Other services could include employment law, human resources,
accounting, tax, legal, cybersecurity and marketing.
The bank, which opened this summer after raising $57 million in initial capital, hired Ed Hart, who previously led
California State University, Fullerton’s Center for Family Business, to oversee
the division.
“As one of only two diverse, multiracial minority
depository institutions in the entire U.S. … we believe the launch of GBIE is a
tremendous opportunity for Genesis Bank to impact and accelerate businesses in
our communities,” Stephen Gordon, the bank’s chairman and CEO, said in the
release.
“Ed’s extensive background and experience
working with family businesses within our target markets provides for a proven
platform that we can leverage and build upon, with the backing of the bank’s
resources, talent, technology, services, and solutions,” Gordon added.
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