United Development Bank Receives FDIC Conditional Approval, Advances Formation of New Bellevue Community Bank
Summary
United Development Bank has received FDIC conditional approval as it moves toward opening a new community bank in Bellevue, Washington. The bank plans to serve local businesses, nonprofits, consumers, and underserved communities across the Seattle metro area. Its offering will include business banking, commercial lending, treasury services, online and mobile banking, and fraud protection. The leadership team includes executives with deep banking, finance, and technology experience, and the bank is still completing capitalization and regulatory steps before launch.
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