trending Market Intelligence /marketintelligence/en/news-insights/trending/sY9bJybnGOQMgkEe74jw3A2 content esgSubNav
In This List

FDIC approves formation of Washington-based Founders Bank

Blog

Technology & Automation Insights: Elevating KYC and onboarding efficiency

Blog

Banking Essentials Newsletter: May 15th Edition

Blog

Data Insights: Enhancing regulatory compliance and client lifecycle management.

Blog

Banking Essentials Newsletter: 17th April Edition


FDIC approves formation of Washington-based Founders Bank

The Federal Deposit Insurance Corp. approved the application of Founders Bank to serve in the Washington metropolitan area.

The bank also appointed Karen Grau as CFO. Most recently, Grau was director of financial reporting at Rockville, Md.-based Capital Bank NA.

Pending District of Columbia Department of Insurance Securities and Banking approval, leaders of the bank expect the first branch to open in the Friendship Heights neighborhood of Washington in early 2020.

Founders Bank is in the process of completing its initial stock offering and expects to open with a paid-in capital between $25 million and $30 million in the first half of the year.