Irvine’s Plaza Bank became Orange County’s latest business bank to open its doors last week.
The startup is different than the kinds of commercial banks debuting in Orange County in the past two years. Most recent startups have been ethnic-focused. Plaza Bank is a general business bank.
After a rush a few years back, there has been a lull in the opening of pure business banks in OC. The only other one of late: MetroPacific Bank, which started in Irvine early last year.
Since May, First Vietnamese American Bank and Saigon National Bank, both of which are in Little Saigon, opened their doors to the Vietnamese-American community.
“We hope to become a viable business banking opportunity for small to midsize businesses and professionals,” Plaza Bank Chief Executive Donald L. Solsby said.
Plaza Bank plans to lend to businesses with annual sales of $3 million to $25 million. It also will offer loans backed by the Small Business Administration.
Solsby had been a retired banker who previously ran several local banks, including Bank of Westminster, Pacific National Bank and American Interstate Bank, both of Newport Beach.
Larger banks bought all three.
,Pat Maio
