The
group must raise at least $27.9 million in capital. The effort also needs
approval from the Federal Deposit Insurance Corporation to obtain deposit
insurance.
"With
this state regulatory approval representing a major milestone, our team is now
focused on collecting the remaining funds from our investor pipeline so that we
can open the bank,” Thomas Inserra, the proposed bank’s CEO, said in a
Wednesday press release.
“Our
mission of helping small businesses grow and increase employment is about to
begin, so stay tuned for future announcements of our opening," Inserra
added.
Integro
hopes to open in mid-2022.
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