Money Makers Mentor

Scottsdale Community Bank to Become Arizona’s Newest Community Bank

The Federal Deposit Insurance Corporation (FDIC) has given Scottsdale Community Bank (SCB) conditional approval to open as Arizona’s first new community bank in 12 years.

After the 2008 recession, SCB Board Chair George Weisz said that the FDIC put much more emphasis on bankers buying troubled banks over establishing new ones. The FDIC’s approval of SCB concluded a multi-year process to establish the state’s first community bank in over a decade.

“This is a very exciting achievement for our outstanding organization and is a strong signal for positive economic development in the city of Scottsdale and the state of Arizona,” said Weisz. “We will be a dynamic bank for a dynamic community. We are very proud to create a high-caliber financial institution. It will be a valuable resou…

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