June 28, 2019 | Andy Medici, Washington Business Journal
Great Falls-based Trustar Bank will officially become the first new bank to open its doors in Greater Washington in more than a decade — with an opening scheduled for July 10, according to CEO and founder Shaza Andersen.
The official opening comes after the bank received its final Federal Deposit Insurance Corporation approval, the last regulatory hurdle before it starts accepting deposits and offering loans. That makes it the first bank to receive the FDIC green light and open its doors for business since Fairfax-based FVCBank in November 2007.
"I am just thrilled. I have to say that it’s so exciting. I am so looking forward to serving our community again," said Andersen, who had previously founded, grew and sold WashingtonFirst Bank. "I am looking forward to working with my team again. It's a great feeling."
Trustar most recently received approval from Virginia, which also made it the first bank since 2008 to get state consent. Meanwhile, other banks in organization are also working on their own approvals, including Tysons-based VisionBank, which hopes to open its doors in the coming months, D.C.-based Founders Bank started by Bank of Georgetown alums, and District-based Moxy Bank, which recently received its conditional approval from the District.
Andersen has also made some additional hires, including:
Trustar Bank also plans to open up a commercial lending office at 1650 Tysons Blvd. in McLean, in addition to having signed a letter of intent for a second full branch at The Spectrum At Reston Town Center at 11846 Spectrum Center. Trustar recently closed on more than $50 million in new funding, above the high end of the $35 million to $50 million it had originally intended.
The bank has also fleshed out its advisory board, recently adding Ryan Kerrigan, a star outside linebacker for Washington's NFL team, and former Republican congresswoman Barbara Comstock, who lost a 2018 bid for reelection in Virginia's 10th District.