GREAT FALLS, Va.--(BUSINESS WIRE)--Trustar Bank (in organization) is pleased to announce that it has been granted conditional approval by the Federal Deposit Insurance Corporation to establish a new bank. The bank anticipates opening for business next month with offices in Tyson’s Corner and Great Falls, Virginia.
Trustar received its charter approval last month from the Commonwealth of Virginia, making it the first new bank chartered by the state since 2008. The bank recently completed its initial stock offering and expects to open with paid-in capital of $55 million.
“We are looking forward to opening our doors in early July, and we are eager to serve the Northern Virginia community, as well as our friends throughout the Washington metropolitan area. The response from the market has been extraordinary, from surpassing our initial capital target to expressions of interest from potential customers eager to do business. We are excited about the leadership demonstrated by our organizing directors, led by Chairman Joe Bracewell, and by our all-star management team including George Connors as President, Matt Johnson as Chief Financial Officer, Michael Amin as Senior Vice President – Operations, Karen Laughlin, Senior Vice President – Human Resources, and Clare Schmitt, Vice President – Legal and Compliance,” commented Shaza Andersen, Chief Executive Officer of Trustar.
“We are grateful for the efforts the FDIC and the Virginia Corporation Commission have made to process our applications cooperatively and efficiently. We look forward to continuing our working relationships after commencing business,” added Ms. Andersen. Legal counsel for Trustar is Troutman Sanders LLP.
About the Bank - Trustar Bank (in organization) will be a full service bank offering comprehensive banking products and services to small and medium sized business and consumers from its headquarters at 774A Walker Road, Great Falls, VA, and its commercial lending office at 1650 Tysons Blvd, Suite 950, McLean, VA.