A group in central Pennsylvania is looking to form a minority, women-owned bank.
Organizers of American Women’s Bank in Camp Hill, Pa., applied with the Federal Deposit Insurance Corp. on Tuesday for deposit insurance. The bank would have a national charter and would be regulated by the Office of the Comptroller of the Currency.
The group’s “mission is to create a financial platform for women who would like to pursue their dreams of owning a business,” the application said. “There is a need for a bank led by a woman who understands small business challenges and can assist other women in their endeavors.”
American Women’s Bank would focus on providing financial services to women-owned businesses, with products such as commercial real estate and construction loans, commercial-and-industrial loans, working capital loans, lines of credit and Small Business Administration loans.
Organizers plan to raise $15 million to $20 million in initial capital.
Jeian Rauchut would serve as the bank’s chairman, president and CEO. A community engagement and growth specialist at Gateway Health, her most-recent bank position was at Centric Bank, where she was a vice president and cash management manager from February 2011 to mid-2013.
Jeannetta DeDay, the proposed bank’s chief lending officer, was the manager of the Harrisburg, Pa., region for Susquehanna Bank, where she led a team and established a loan-production center. Prior to joining Susquehanna, DeDay was manager of commercial lending and was the corporate secretary for Integrity Bank.
George Niemczyk, who would serve as chief credit officer, is a former chief operating officer and chief financial officer at Pascack Bancorp, while Floyd Weekes, set to become chief financial officer and chief technology officer, held a number of top leadership posts at CSB&T Bancorp in Nashville, Tenn.