New Bank To Open In Spokane Valley

A new state-chartered commercial bank is starting in the Spokane Valley.

New Century Bank, started by six Spokane and Valley businessmen, was formed to capture the growing small business market, said Bob McKean, former CEO with United Security Bank, who will head the new bank.

The bank’s headquarters and first branch will be in New Century Center, on the northwest corner of Pines and Mission. A temporary location will open in March next to the bank. The permanent bank office will open in May.

Currently the bank is making an initial Washington state public offering of $8 a share to raise a minimum of $5.1 million in capital.

Spokane start-up investors include McKean, Tim Hunt, owner of Huntwood Industries, Don Lankford, owner of Mid Mountain Machinery Inc.; John Miller, owner of Divcon; and Wallace Libby and William Anderson, both retired electrical contractors, McKean said.

, DataTimes