Erebor Bank Secures National Bank Charter

Erebor Bank, backed by Palmer Luckey, received a national bank charter reported Friday by the Wall Street Journal, allowing it to operate nationwide less than eight months after applying to the Office of the Comptroller of the Currency. Investors include Joe Lonsdale and reportedly Peter Thiel; Erebor plans to serve AI, crypto, defense and manufacturing firms, aiming to fill gaps left by Silicon Valley Bank's 2023 collapse.