By Scottsdale Airpark News Staff
The Arizona Department of Insurance and Financial Institutions hailed the opening of Scottsdale Community Bank — which obtained the state’s first independent bank charter in more than 14 years.
“Scottsdale Community Bank’s willingness to invest in Arizona demonstrates the state’s strong position as a great place to do business and the need for continued banking expansion,” DIFI Director Evan Daniels says.
“Community banks continue to perform a significant role in the country’s banking sector, and I welcome this addition to Arizona’s banking community.”
The newly chartered full-service commercial bank opened at 8767 E. Via De Ventura, after receiving final regulatory approval from both the state and the Federal Deposit Insurance Corporation.
Boasting “personalized financial services while leveraging market opportunity with small and medium-size businesses, especially those wishing to pursue product offerings with local decision-making and concern for the Scottsdale community,” the bank is locally owned and managed.
“There is a tremendous banking opportunity in Arizona, which is one of the fastest-growing financial and business centers in the nation, yet is drastically underserved,” says Neill LeCorgne, president and chief executive officer of Scottsdale Community Bank.
He noted that Arizona has only 10 community banks, compared with 410 in Texas, 401 in Illinois, 144 in California and 41 in Utah.
“Our greatest opportunity is rooted in our local decision-making and having our products and services delivered through the most innovative banking platforms available in the industry today,” LeCorgne adds. “If you want a banker who answers your calls, actually listens to you, and makes house calls to your business, then we are your bank.”
Vice Chair Hemant Patel says the leadership team comprises people with extensive backgrounds in banking, business, nonprofit and public service, including longtime Scottsdale and Arizona community leaders.
He said the approval process involved a 1,000-page application, extensive background checks of board members and executives, and even a pandemic banking forecast.
“We raised over $19 million in capital, which was $3 million more than targeted, from over 200 insightful founders who saw the dire need in our community for an innovative, efficient bank that truly provides personalized attention and swift financial services to its clients,” Patel boasts. “One of our guideposts is: ‘Doing well for our investors by doing good for the community.’”
SCB plans to partner with other financial institutions on various projects of mutual interest.
Sandra Watson, president/CEO of the Arizona Commerce Authority, congratulated board Chairman George Weisz, stating, “As the first new community bank in Arizona in nearly 15 years, Scottsdale Community Bank’s personalized services to small, medium and family businesses demonstrates their commitment to support the growth of local businesses.”
Mayor David Ortega says he welcomes the new bank.
“This is a significant sign of the thriving economic climate that Scottsdale’s business community and government sector have been producing for years,” he says, predicting the bank “will bring local banking and cutting-edge financial services to our businesses, which are the lifeblood of our flourishing economic engine.”
Arizona Bankers Association President Paul Hickman says the bank “brings additional energy, technology and resources to our vibrant financial landscape at a time when our community needs it the most.”
People interested in becoming charter members of the bank can email firstname.lastname@example.org. Find more information at scottsdalecommunitybank.com.