A newly established bank in American Samoa is now seeking investors and government approvals and hopes to open its doors in less than a year.
Local business people announced the establishment of the Pago Pago-based Community Bank of Amerika Samoa to fill the void when the Bank of Hawai'i closes its territory branch on the 15th of March.
The interim board chairman of the Community Bank, Avamua Dave Haleck, says the bank's organizers are presently soliciting investment commitments in the community for 50,000 US dollars or more.
And says later in the year people can become shareholders with a minimal investment of 1,000 US dollars.
The board has already named Gary Ayre as the bank's CEO-designee, who will visit the territory next week.