Federal regulators gave the green light to directors of a new Santa Ana business bank to sell shares to investors.
Santa Ana Business Bank hopes to open at 1666 N. Main St. after raising $12 million. The bank is going after Hispanic customers with bilingual tellers and other services.
It plans to offer loans to businesses, real estate developers, consumers and small businesses.
Santa Ana Business Bank plans to offer shares to investors at $10 each through Feb. 9.
Organizers said they could extend the share sale deadline.
“If we satisfy the remaining conditions to open imposed by the regulators, Santa Ana will once again have a commercial bank headquartered in this growing and vibrant city,” said Alfredo Amezcua, a local attorney and chairman of Santa Ana Business Bank.
Directors of the bank include Santa Ana Councilman Carlos Bustamante and accountant
Manuel Ramirez, who’s also vice chairman of the Hispanic 100, a political action group that encourages Hispanic candidates.
