Latino-focused banks to open in L.A., Glendale
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Two new banks primarily owned by Latinos and focused on Latino-owned small businesses are opening this week in downtown Los Angeles and Glendale.
Promerica Bank on Figueroa Street downtown and Americas United Bank on Brand Boulevard in Glendale are the first commercial banks in the area in the last 30 years to open with a focus on the Latino market. The independently organized banks each raised about $30 million in start-up capital, with most of the money coming from Latinos.
Americas United opened Monday, and Promerica was scheduled to open today.
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