Proposed Mountain View Bank gets state charter

Denver Business Journal

The Colorado State Banking Board on Thursday approved a state charter for Mountain View Bank of Commerce, a proposed community bank that plans to operate in Westminster.

The bank is still awaiting approval by the Federal Deposit Insurance Corp., but hopes to have all the regulatory pieces in place in the first quarter of 2008, said Andy Ellison, the bank's proposed president and CEO.

Organizers raised $8 million in startup capital from more than 150 investors, Ellison said.

Proposed bankers include Thomas Courson as chief credit officer, Stephen Faillaci as vice president of commercial lending, and Jennifer Maes as operations manager. The bank would be located at 12365 Huron St. in Westminster.

One of the project's investors is Lansing, Mich.-based Capitol Bancorp (NYSE: CBC), a bank holding company that identifies sites for de novo community banks, raises capital and mentors the startup banks.

Capitol Bancorp also participated in the opening of Fort Collins Commerce Bank in 2005, Larimer Bank of Commerce in May 2007, and Loveland Bank of Commerce in October 2007.