A group looking to form a bank in Jersey City, N.J., plans to raise at least $23 million of capital.
Chroma Community Bank would be state-chartered, according to organizers’ application with the Federal Deposit Insurance Corp. for deposit insurance.
“The bank intends to offer a full range of business and retail banking services focused primarily on serving small to medium-sized businesses,” or those with less than 100 employees, the application said.
Chroma would also look to bank professionals and firms in industries such as health care, legal, trade and technical services, along with private real estate investors and other individuals.
Stanley Gorodesky is expected to serve as chairman and CEO. He once was senior vice president of corporate business development at Cross River Bank.
The application said that Stephen Duess would become president and chief credit officer. He is a former President and CEO of Bogota Savings Bank in Teaneck, N.J.