Manchester Financial Group projects that the opening day of the Manchester Financial Bank in La Jolla at 7825 Fay Ave. will come sometime towards the end of the third quarter of 2008.
The bank's prospective CEO, Rick Mandelbaum, said the company has filed for regulatory approval and is waiting for the OCC and the FDIC to give Manchester Financial the go-ahead.
Mandelbaum added that he is very pleased with the bank's location and with its $20 million starting budget. Manchester Financial Bank will be a full-fledged commercial bank, offering, among other services, private, business and construction loans.
