A proposed bank in Washington aims to become a minority depository institution.
Organizers of the planned United Development Bank made the disclosure in their application with the Federal Deposit Insurance Corp. United Development will operate one branch at its main office in Bellevue, Kirkland, or Redmond.
United Development Bank is expected to open on or around May 15. Information about initial capital was redacted.
Charlie Guildner, a former president and CEO of North Cascades Bank, would serve as president and CEO.
There will be eight directors: Guildner, Zachary Bryant, Derek Desjardins, Irene Lee-Sluys, Doyin Sobowale, Edwin Tian, Maria Villa-Wigfall, and Andy Yeung.