Triad Business Bank, a proposed bank in North Carolina, will open next month after receiving approval from the Federal Deposit Insurance Corp.
Organizers of the Greensboro de novo plan to have additional offices in the nearby cities of Winston-Salem and High Point. The bank will focus on offering loans, treasury management and private banking services for small to midsize businesses.
“We are pleased to have passed another significant milestone as we work towards opening the Triad’s first new bank since 2008,” Ramsey Hamadi, the bank’s proposed CEO, said in a Wednesday press release.
“Due to the extensive bank consolidation that has occurred over the past few years, the Triad needs a community-based commercial bank,” Hamadi said.
Organizers, who planned to raise $65 million in initial capital, said they had received commitments to exceed the $48.5 million required to open.
“My fellow organizers and I are most appreciative of the tremendous support that we have received from the Triad’s business community during this organizational period,” said Kevin Jessup, the bank’s proposed chairman and managing partner of Salem Investment Partners.
Organizers of Triad Business Bank include several former bankers at NewBridge Bancorp in Greensboro, which was sold in April 2016 to Yadkin Financial. Yadkin later sold to F.N.B. in Pittsburgh.
Hamadi was NewBridge’s chief financial officer.
