Integro Bank (In Organization) Obtains FDIC Conditional Approval

PHOENIX, May 20, 2022 /PRNewswire/ -- Integro Bank (In Organization) announced that it obtained conditional approval from the Federal Deposit Insurance Corporation (FDIC) for deposit insurance in connection with its application to open a new bank devoted to helping small businesses.  Among the conditions for opening the bank is a requirement to raise a minimum of $27.9 million in capital and for the bank to obtain regulatory approval from the Arizona Department of Insurance and Financial Institutions ("AZ DIFI"). Integro Bank announced two days ago that it had obtained conditional approval of its bank charter application with the AZ DIFI.

Thomas J. Inserra, CEO & Founder stated: "Combining this federal regulatory approval with our state regulatory approval and our recently obtained bank routing number means the primary remaining item to open the bank is to close on our pending stock offering.  Our mission of helping small businesses grow and increase employment is about to begin.  Integro Bank is now planning a grand opening date in mid-2022, so stay tuned for future announcements of our exact opening date.  Integro Bank will also begin hiring the remaining positions to open the bank in preparation for our rapid launch."

For an opportunity to become owner of your own bank or to track Integro Bank's capital raise progress, visit us online at: www.IntegroBank.com.

About Integro Bank (In Organization)

Integro Bank (In Organization) is a proposed de novo bank based in Phoenix, Arizona (USA). Our proprietary Integro-360 consultative approach and CEO Club are designed to help small business grow and maximize employment. To learn how you can make an impact, help small businesses, and become a co-owner of your own bank, visit: www.integrobank.com

Media Contact: 

Thomas J. Inserra CEO at investor.support@integrobank.com or (602) 805-5088.

Investor Contact: 

Interested institutional investors should contact John Thompson at john.thompson@pnc.com or 216-222-2668; or Andrew Underwood at Andrew.underwood@pnc.com or 901-337-7077. 

This is not an offer to sell or a solicitation of an offer to buy Integro Bank's (In Organization) common stock. Offers may be made only by an offering circular.  To obtain a copy of the offering circular investors may visit:  www.integrobank.com by selecting "Become an Investor" and carefully reading the circular before subscribing to purchase any Integro Bank (In Organization) common stock.

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SOURCE Integro Bancorp Inc.