Talk about good timing. Just weeks after Congress passed a massive economic stimulus bill that included more than $40 billion of green initiatives, organizers of the environmentally focused e3bank were given a stamp of approval in April by the Pennsylvania Department of Banking.

When the bank opens its doors in July or August (depending on when it finishes raising $30 million in capital), the Malvern-based bank hopes to be among the first in line to help finance renewable energy power generation and transmission projects in its area. The bill also gives tax breaks for homeowners and businesses that retro-fit properties to make them more energy efficient, and the bank intends to capitalize on demand for financing of such projects, said e3bank's chief executive, Frank Baldassarre Jr.

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