Bank of Burlington receives conditional FDIC approval

Published: Jul. 15, 2022 at 11:50 PM EDT
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SOUTH BURLINGTON, Vt. (WCAX) - The FDIC has given the Bank of Burlington conditional approval to open its doors in South Burlington.

This is the final major milestone before the bank receives official approval to start serving customers.

The bank will focus on commercial lending to small and medium-sized businesses in Vermont. On Monday, the Federal Deposit Insurance Corporation and the Vermont Department of Financial Regulation will be on-site to see the space on Kimball Avenue and check on operations, including the bank’s technology.

Leaders hope to get the greenlight this August.

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