A new bank being organized in Washington, D.C., hopes to finance local small and midsize businesses that sell products internationally.

First International Bank of Washington has gotten preliminary charter approval from the District of Columbia's Office of Banking and Financial Institutions. It still must get approval from the District's City Council and the Federal Deposit Insurance Corp., according to Kimberly Hoover, a bank organizer. Ms. Hoover hopes to open the bank for business by the end of the first quarter.

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