Question 1

What is Icon Business Bank?

Accepted Answer

Icon Business Bank is a community-focused commercial bank headquartered in Riverside, California. The bank specializes in serving small and midsize businesses, commercial real estate investors, and professionals throughout Southern California.

As a relationship-based institution, Icon Business Bank combines traditional community banking values with modern technology and innovation. The bank operates two offices and maintains approximately $163 million in total assets.

Icon Business Bank operates as a unit of Icon Bancorp and is regulated by the FDIC and the California Department of Financial Protection and Innovation.

Question 2

When was Icon Business Bank founded?

Accepted Answer

Icon Business Bank was founded in 2023 and officially opened on August 22, 2023, making it one of only three de novo banks to open that year. The bank was established by Carpenter Acquisition Corp., which received conditional approval from the FDIC in late January 2023.

The founding team raised $22.7 million in capital before opening. The bank was led by CEO Ernie Hwang, a seasoned banker with over 35 years of commercial banking experience, who previously served as Senior EVP and Chief Banking Officer of Pacific Premier Bank and as Founding Director, Vice Chairman, and Chief Lending Officer of Security Bank of California.

The original business plan included establishing branches in Riverside, Orange County, California, and Clark County, Nevada.

Question 3

Where is Icon Business Bank headquartered?

Accepted Answer

Icon Business Bank is headquartered in Riverside, California, at 3390 University Avenue, Suite 400. Riverside is located in Riverside County, within the Riverside-San Bernardino-Ontario metropolitan area.

Question 4

Where does Icon Business Bank operate?

Accepted Answer

Icon Business Bank operates two offices throughout Southern California. The bank primarily serves the Riverside-San Bernardino-Ontario metropolitan area and surrounding regions.

The bank's service area focuses on businesses and commercial real estate investors in Riverside County and adjacent Southern California markets. While headquartered in Riverside, Icon Business Bank serves clients throughout the broader Southern California business community.

Question 5

What services does Icon Business Bank offer?

Accepted Answer

Icon Business Bank offers comprehensive commercial and business banking services, including:

Commercial Lending: Secured and unsecured commercial lines of credit and term loans, accounts receivable and inventory financing, equipment financing, and UCC-1 secured facilities. The bank also provides specialized lending for professional services including medical practices, accounting firms, law firms, engineering firms, and registered investment advisors.

Commercial Real Estate Financing: Owner-user commercial real estate loans, commercial equity lines of credit (CELOC) in first or second lien positions, multi-family property financing, construction loans, and tenant improvement financing.

SBA Lending: SBA 504 loan programs for purchasing or refinancing owner-user commercial properties, and SBA 7a loans for commercial real estate, construction, equipment purchases, debt refinancing, and working capital.

Business Deposit Products: Business checking accounts, savings accounts, money market accounts, and certificates of deposit.

Cash Management Services: A full suite of digital and cash management products designed for business operations.

Digital Banking: Online banking platform with account management, bill pay, fund transfers, and mobile check deposit. The bank offers a dedicated mobile banking app for iOS and Android with features including 24/7 balance viewing, statement access, bill payment, person-to-person payments via Zelle, secure messaging, and customizable account alerts.

Personal Banking: Personal checking and savings accounts, personal loans and lines of credit, and personal deposit products for business owners, their families, and individuals.

Question 6

What makes Icon Business Bank unique?

Accepted Answer

Icon Business Bank distinguishes itself through its focused approach to relationship banking combined with technology adoption. As one of only three de novo banks established in 2023, Icon represents a new generation of community business banks built on modern infrastructure.

The bank's leadership team brings over 150 years of combined experience in banking, investment management, and operations. This depth of expertise includes CEO Ernie Hwang's 35 years in commercial banking, CFO Philippe Masbanji's 26 years in accounting and finance, and Chief Credit Officer LaRonda Fisher-Rogers' 35 years in commercial banking and credit management.

Icon Business Bank emphasizes its "people-first" philosophy, positioning itself as a trusted banking advisor and partner rather than simply a transactional institution. The bank leverages technology to enhance client relationships while maintaining the personal service approach of traditional community banking.

The bank also diversifies its balance sheet through indirect auto loan purchases, complementing its core commercial and real estate lending operations.

Question 7

What type of financial institution is Icon Business Bank?

Accepted Answer

Icon Business Bank is a State Commercial Bank chartered under California state law. It is regulated by the FDIC and the California Department of Financial Protection and Innovation (DFPI).

As a commercial bank, Icon Business Bank focuses primarily on business banking services rather than consumer retail banking. The bank specializes in commercial lending, with particular emphasis on serving small and midsize businesses, commercial real estate investors, and professional service firms.

Icon Business Bank is not a member of the Federal Reserve System and does not exercise fiduciary powers. The bank holds California banking license ID 2725 and operates under FDIC Certificate Number 59314.

Icon Business Bank

in the United States 🇺🇸

Crypto-Friendliness

All done!

About Icon Business Bank in the United States