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FDIC approves Georgia-based Loyal Trust Bank's charter

The Federal Deposit Insurance Corp. has approved Loyal Trust Bank's application to be a state nonmember bank based in Johns Creek, Ga.

The bank is expected to open with a minimum capital of $20 million, and it will primarily serve the Asian American and business communities in Johns Creek and the surrounding metro Atlanta region.

The Georgia Department of Banking and Finance has already approved Loyal Trust Bank's de novo community bank charter.