New bank aimed at giving back

Saturday, July 28, 2007 | 7:17 a.m.

A new bank is being formed by a group of gaming industry executives and other business leaders, including Brian Greenspun, chairman of The Greenspun Corporation.

Former Nevada First Bank President Arvind Menon will head the new Meadows Bank as chief executive.

Organizing the bank with Menon and Greenspun - whose family owns the Las Vegas Sun - are former Golden Nugget partners Tom Breitling and Tim Poster; Fertitta Enterprises Chairman William Bullard; Station Casinos executive Lorenzo Fertitta and Perry Rogers, Andre Agassi's business manager.

"I am happy to be a part of this new venture with my friends," Greenspun said Friday. The organizers "have amply demonstrated their commitment to the Las Vegas community and I expect that they, and we, will continue to do so through this bank ."

Menon said the bank will be similar to other valley community banks by serving small businesses and professionals, and draw on its organizers' gaming ties to attract businesses.

He said he hopes organizers and directors - including Agassi - will bring their own business to Meadows as well.

"The directors represent businesses that have grown and thrived in this community, and this is one way they're going to give back, by extending credit to other businesses in town to help them grow and establish themselves," Menon said. "They are hoping to give back what they have already received from the community."

Bank organizers raised $40 million in capital to start the bank. Menon said he hopes the bank will have nearly $100 million in assets soon after opening.

Organizers applied for Federal Deposit Insurance Corp. approval June 15, and expect Meadows to open in late fall.

Headquarters will be on Spanish Ridge Avenue, near Russell Road east of Interstate 215.