Group plans new bank in Washington

Register now

A second group plans to form a bank in the nation’s capital.

Organizers are looking to open VisionBank, according to a website dedicated to the effort. There is no record of an application on the official Federal Deposit Insurance Corp.'s website.

“After a decade of community bank consolidation without a single new bank charter we see a generational opportunity to bring true community banking … and unparalleled customer service back to the greater Washington region, arguably the best banking market in the nation,” the group said on its website.

Mindi McClure is expected to serve as the bank's chairman and CEO, her LinkedIn profile suggests. McClure is founder and CEO of MHM Capital, an advisory firm focused on equity and debt capital markets.

Richard Horn would be the bank’s chief operating officer, according to his LinkedIn profile. Horn previously served as general counsel at WashingtonFirst Bankshares in Reston, Va., which was sold in January to Sandy Spring Bancorp in Olney, Md.

Efforts to reach McClure and Horn for comment were unsuccessful.

Marathon International Bank has already filed an application with the FDIC. While the bank would focus on the Ethiopian-American community, organizers also plan to offer loans and deposits to a broad range of individuals and businesses.

For reprint and licensing requests for this article, click here.