25 Sep 2013

New bank application in American Samoa

10:17 am on 25 September 2013

A proposed new bank to be established in American Samoa next year is seeking public comments on its application.

In a public notice, the Community Bank of American Samoa, says it has filed an application with the Federal Deposit Insurance Corporation, for federal deposit insurance and inter-agency bank charter.

The proposed new bank hopes to set up two branches in American Samoa.

Meanwhile the Bank of Hawai'i is shutting down its operations in the territory in mid-March next year and will relocate to Honolulu.