One to Watch: Trustar Bank
Trustar Bank is another soon-to-be banking presence looking to make friends and influence people.
Although currently still ‘in organization’ ahead of their launch, community bank Trustar have confirmed this week that they have now been granted conditional approval by the Federal Deposit Insurance Corporation (FDIC) to establish and launch their new bank. Having received their charter approval from the Commonwealth of Virginia, Trustar are adding themselves to the list of ‘firsts’ as they place themselves to be the first new bank chartered by the state since the 2008 financial crisis.
The bank are currently planning on opening for business within the next month with two initial locations in Tyson’s Corner and Great Falls, Virginia, and ambitious hiring and scaling is expected imminently.
Ambition and drive are not in short supply with this banking youngster. Opening with two locations, and having surpassed their initial capital target, Trustar is certainly setting out on a positive trajectory. The bank’s leadership team also looks like they could pack a punch, and with a rostra of Virginia-experienced heavy hitters attached to the firm, experience and yes-attitude are in abundance. Currently the leadership team is headed up by Shaza Andersen, who is the bank’s Organizer, Director and Chief Executive, and banking veteran George Connors who will be Trustar’s Director, President, and Chief Credit Officer. They are joined by: Matt Johnson as Chief Financial Officer, Michael Amin as Senior Vice President of Operations, Karen Laughlin, Senior Vice President of Human Resources, and Clare Schmitt as Vice President of Legal and Compliance.
So yes, another bank is entering the market, but what’s their unique selling point, I hear you ask? Personality and personalisation. Yes, you heard it here. Trustar are looking to break away from the tendencies of the big-boy banks that are all about numbers and size. Trustar want to put the emphasis on clients’ wants and needs, and to serve them as individuals. That means, clients coming first, tailored services, and a willingness to go above and beyond… or so their mission statement claims.