PURCHASE, N.Y. - Claritybank.com said that it more than doubled its deposit base in its first eight weeks of operation, from $23 million to $50 million.
The Internet bank opened March 27, with small businesses as its target customers. It features a business-to-business center, an electronic marketplace where businesses can procure staffing, payroll, and legal assistance, as well as office supplies. The online bank attributes the increase in deposits to increasing market confidence in Internet banks, and to its own competitive products, which include automated teller machine rebates of $9 a month. The bank also operates ClarityMall, an electronic marketplace for consumers.
Claritybank.com opened physical loan centers in Chicago and Newport Beach, Calif., this month. It already had loan centers in New York and Texas.