JOHNS CREEK, Ga. — A diverse group of local business leaders recently filed to create a new bank headquartered in Johns Creek.
If approved by regulators, Loyal Trust Bank will be the first Asian-American-focused bank headquartered in Johns Creek, according to its founders. Their goal is to serve Johns Creek and the surrounding area with a high-tech, community banking style for individuals and small- to mid-sized businesses.
“The area and its surrounding counties are home to a growing population, of which many are new Asian-American families, that the organizers believe have unmet banking needs,” the application to the Federal Deposit Insurance Corporation states.
The group filed an application with the FDIC and Georgia Department of Banking and Finance on March 11. They intend to open this fall at 11675 Medlock Bridge Road, a former South Crest Bank branch.
Proposed CEO Charlie Brown said the bank’s small size and community focus will set it apart.
“It’s the same thing you experience when you go into a small business of any kind,” he said. “It’s a much higher level of personal service, a face-to-face consultative approach, rather than just being a number in a big institution.”
The bank will offer deposit and lending products, with an emphasis on convenient technology, such as direct deposits, automatic account transfers, wire transfers and mobile deposits.
“We also plan on doing a lot of our business at our customers’ office for their convenience,” Brown said.
Rose Jarboe, the founder and CEO of Norcross-based real estate investment firm WePartner Management, is slated to be the chairwoman. She has more than 20 years of experience in accounting, finance and real estate investment.
Brown is the founding chairman and CEO of Insignia Bank. He has more than 20 years of experience in community banking and previously worked as an FDIC Community Bank Advisory Board member.
Other founding directors include Bill Abernathy, owner of Abernathy Bank Consulting; Julin Gu, founder and president of China US Technology Innovation Center in Johns Creek; John Lewis Jr., partner of Shook, Hardy and Bacon; Edward Oh, founder and CEO of US Fibers; James Park, CEO and owner of Sun’s Transfer Co.; Bo Shen, founder of Fenbushi Capital and Dr. Dong Wang, CEO of Georgia Neuro-diagnostic and Treatment Center.
“We’ve seen fantastic feedback about folks being excited for such a focus in that market,” Brown said. “So I think it will be a real bonding experience for our customers and our bankers and our ownership.”