United Development Bank Secures FDIC Approval for Bellevue Launch

Organizers are positioning the Bellevue-based bank to serve a diverse client base across King County, with plans to pursue a Minority Depository Institution designation. The bank’s mission centers on expanding financial access for underserved communities, a strategy leadership believes will resonate in a market currently dominated by larger financial institutions.

"Many customers still want a banking relationship built on trust, accessibility, and local expertise," said Marty Steele, the proposed President and Chief Banking Officer. Steele is joined by CEO Charlie Guildner, who brings 40 years of experience, including a tenure at North Cascades Bank. The executive team also features Josh Lavik as CFO and Ajay Grewal as Director of Information Technology.

While the bank remains in the organizational phase, it is finalizing the necessary capitalization and regulatory requirements to begin operations. Once launched, the institution will offer a full suite of services, including commercial lending, SBA loans, and treasury management, backed by a board of directors recruited for their diverse backgrounds in law, technology, and entrepreneurship.