Integro Bank (In Organization) Obtains FDIC Conditional Approval

PHOENIX, May 20, 2022 /PRNewswire/ -- Integro Bank (In Organization) announced that it obtained conditional approval from the Federal Deposit Insurance Corporation (FDIC) for deposit insurance in connection with its application to open a new bank devoted to helping small businesses.  Among the conditions for opening the bank is a requirement to raise a minimum of $27.9 million in capital and for the bank to obtain regulatory approval from the Arizona Department of Insurance and Financial Institutions ("AZ DIFI"). Integro Bank announced two days ago that it had obtained conditional approval of its bank charter application with the AZ DIFI.

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