Imperial Bank Arizona said it has received a full-service commercial bank license from the Arizona State Banking Department.
It also has received a deposit insurance license from the Federal Deposit Insurance Corp., the bank said.
The newly chartered Imperial of Arizona, a division of $3 billion-asset Imperial Bancorp, Los Angeles, said it would begin accepting deposits and providing cash management services starting Aug. 1.
"The reception by the Arizona business community has been gratifying, and now we are excited to augment our lending focus by offering commercial banking services to Arizona's middle-market business," said Ed Zito, Imperial Bank Arizona's president.
In addition, John P. Engberg was named senior vice president and chief credit officer of Imperial Bank of Arizona.
Mr. Engberg was a senior vice president and commercial loan administrator at Imperial Bank's commercial loan administration office in San Francisco.
Before that, he was president and chief executive of American Interstate Bank in California.