Broward Bank of Commerce, FDIC issues deposit insurance

Broward Bank of Commerce said it has received conditional approval from the FDIC for deposit insurance. This is good news that new banks are receiving approval in this environment to take the place of badly managed banks being kept alive. The quote on the about us section says it all:

The fact that the bank will open with a clean loan portfolio is significant given the current state of the local and national banking industry. “We will have the ability and willingness to make loans to our customers”, adds Costello.

A bank with a clean slate, now that is something to look forward to.