YEREVAN, December 4. /ARKA/. Golden State, the first bank with Armenian capital opened in Glendale, the United States, on November 19, according to Asbarez.com.

This is the first banks in the United States to have shareholders and board members of Armenian descent.

Golden State is a community bank which will provide services to businesses and organizations. Currently its assets total $125 million.

Ruben Sedrakyan, the head of the bank’s managing board, said the bank extends up-to-$5 million loans.

Golden State also accepts deposits paying interests higher than in large banks. The only area missing from the range of the bank’s services is lending to individuals, particularly car and mortgage loans. ---0---