January 10, 2020, 11:42 AM
Founders Bank, the first new community bank formed in the District in 15 years, has received FDIC approval.
It’s not the final hurdle for the bank to open, but it anticipates opening its first branch in Friendship Heights in early 2020.
Local banking veteran Karen Grau has been named chief financial officer for Founders Bank. She served as CFO of Monument Bank from its founding to its sale to Revere Bank in 2016. Grau has also held executive positions at Congressional Bank in Potomac, Maryland, and FBR National Bank and Trust in Bethesda.
She was most recently director of financial reporting at Capital Bank in Rockville.
“The opportunity to be part of a new community bank is one I am intimately familiar with, having done it twice before in my career,” Grau said. “Seeing the energy, passion and expertise that the organizing team brings to this bank made joining them an easy decision.”