|
Advertising
Customer Service
• Register
|
By Beth Fitzgerald“We are very positive about going forward with the bank, even though the economy has seen some bumps in the road,” said Maryalice Raushi, a lead organizer of Platinum and a career financial services executive who’s worked with Mellon, PNC and New York Life. “There is obviously a great need for a bank that has capital and can go out and lend.”
Several of the original founders, including Richard Tappen of Morristown, a former executive of First Morris Bank, have decided to exit the enterprise, Raushi said. The bank originally had 37 founders; Rauschi said she doesn’t know how many plan to remain on board.
Raushi said there will be a meeting Nov. 20 at 7 p.m. at the Grand Café in Morristown for those interested in learning more about the new bank’s plans, and considering joining the founders’ group.
Once the bank receives its federal charter, it will raise startup capital, and Raushi said she expects to raise between $25 million and $48 million. Platinum is envisioned as a full-service retail and commercial bank that also provides wealth management, trust and estate services, and insurance. The bank plans to serve Morris, Somerset and Hunterdon counties, which are high-income areas, “but we want this to be a family bank that welcomes everyone,” Raushi said.
Related Articles
