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Another independent bank has launched in the Twin Cities to attract small-business customers feeling disenfranchised by the ranks of ever-larger banking conglomerates.
Maple Grove-based Eagle Community Bank was scheduled to open its doors Dec. 12. It has raised roughly $3.5 million to finance the launch, according to Lee Ashfeld, Eagle Bank's president and CEO. He said the upstart will target smallbusiness customers.
He added Eagle will be the only bank chartered (or based) in Maple Grove. However, the city is home to roughly a dozen branch offices of mid-size and large banks: a TCF National Bank and two smaller banks are nearby Eagle.
"A lot of banks jumped in with branches, and that might have been a...