After three years of establishment, graduated from regulations on ‘De Novo Bank’
Appointment of Ahn Soon Hae as a new director…Mortgage loans, new branch plans
Loyal Trust Bank (President Brad Sanner), where Korean capital participated, said, “We have accomplished a great achievement in getting approval to graduate from the federal authorities’ regulations on De Novo Bank three years after its establishment.”
The bank held a press conference on the 27th and said, “We successfully managed the surplus for the past two consecutive years and passed all difficult approval procedures by the bank’s supervisory authorities in December last year, three years after operation,” adding, “This is a high evaluation of the bank’s robust growth and surplus management for three years.”
Sanner, a veteran president of many community banks for more than 20 years, said, “The supervisory authorities scored high evenly in five categories that evaluate profits, stability, and growth,” adding, “The efforts of executives and board members were the driving force.”
The bank said, “We faced an extremely difficult situation in 2020 due to the COVID-19 pandemic before the sales base was established, but we overcame it by actively attracting government subsidies such as SBA loans and PPP,” adding, “We will start active growth plans this year as it is out of the category of De Novo banks.”
“We have started mortgage loans this year, and we are in charge of manager Louise Lee, a long-time expert,” Sanner said. “We plan to expand banking services to areas where Koreans are concentrated, such as Duluth, by establishing branches.”
The bank promised to come up with the best solution for the convenience of customers by promoting the establishment of offline branches and the expansion of mobile financial services in a balanced manner.
Meanwhile, Loyal Trust Bank said it has appointed Ahn Soon Hae, former senior vice chairman of the Federation of Korean Association, who is active in the Korean community in Atlanta and Alabama, as its bank director to help set the pace for future growth.
“New director Ahn runs ‘Hana Factory’ that supports Hyundai Motor and Kia partners and contributes greatly to the development of the bank,” said Hong Seung-hoon, a standing advisor. “We will take the lead in bank growth in cooperation with current directors Edward Oh and James Park.” “We will help attract corporate customers and establish specific bank growth strategies,” the new director Ahn said.
Lee, Sang Yeon, managing Editor