Introduction
Executive Summary
UniBank is organized as a commercial bank chartered by the State of Washington, Department of Financial Institutions with deposits insured by the Federal Deposit Insurance Corporation. The Bank is an independent community bank with a mobile branch dedicated to providing quality banking services to the customers and businesses in its market area and ethnic communities by establishing meaningful relationships with the people it serves and generating a healthy return for its shareholders. The Bank will maintain a commitment to safety and soundness and to customer service. The Bank will provide core community banking services to the ethnic minority businesses and individuals in greater Puget Sound area, while achieving the highest level of confidence from the target client communities through conservative capital and risk management, profitability, honesty, and integrity.
Initial Capitalization
Start-up capital of U$20,200,000 achieved.
Individual Investor’s Investment Ceiling
Lesser of U$2,000,000 or 9.9% of initial stock offering.
Board of Directors
Ten founding members of the Board of Directors is elected from the pool of the Founders, who are selected on the basis of expertise, experience, common sense, honesty, integrity, veracity, US citizenship and ability to serve.
Operating Principles
- Founded as a high quality, personalized relationship bank.
- Maintain personalized and local decision making authority.
- Maintain a high level of confidence in the community through safe and sound management practices, while harboring a clean corporate image of an earnest and transparent management with high levels of integrity.
- Recognize employees as the Bank’s most valuable assets and provide professionally rewarding career opportunities.
- Encourage the Bank staff to be proactive within the community and be involved with various community organizations.
- Provide the corporate resources as necessary to implement the sales and marketing culture.
- Foster the performance culture by maintaining a strong business development philosophy and a system of recognition.
- Implement a continuing education program for the Bank staff and the Board of Directors.
- Encourage active participation of the Bank’s Board of Directors in business development and sound policy making decisions.
- Undertake internal and external growth as a means of corporate survival through appropriately controlled growth in assets and deposits.
- Grow within the means of the sustainable rate of growth.
- Actively engage in outsourcing partnerships such as the service bureau model, import L/C issuances, credit cards, sharing of ATM and branch networks, etc.
- Balance the needs of community and employee with shareholder returns.
- Employ the best bank technology which is economically feasible to ensure accuracy and timeliness of the Bank’s service.
- Expand the product lines to support the commercial banking initiatives and address the ever-changing needs of the customers and the financial markets by introducing innovative banking solutions.
- Be an active supporter of the local economy and community initiatives.
