Port Townsend: New bank to file application for charter this week

PORT TOWNSEND — MarinerBank, a community bank in the process of organization, plans to apply for a charter this week.

Jim Grabicki, president and CEO, sent out letters Friday informing potential investors that everything is in place to submit an application to state banking regulators.

“We’ve had an overwhelming response from founders and investors,” Grabicki said.

Forty founders have invested $10,000 each and 367 individuals have signed letters of intent to purchase stock totaling more than $6 million, Grabicki said.

There is also a growing waiting list to invest in the bank, he said. Investment blocks range from $2,000 to $300,000, Grabicki said.

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The rest of this story appears in the Sunday Peninsula Daily News. Click on SUBSCRIBE to get the PDN delivered to your home or office.

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