Houston, Texas – June 5, 2025 – USV Bancorp, Inc. is proud to announce it has entered the final phase of its capital raise to establish the first Vietnamese-American minority-owned bank in Houston, Texas. This milestone marks the culmination of a 50-year journey for Houston’s Vietnamese community and coincides with the U.S. commemorating half a century since the arrival of the first major wave of Vietnamese immigrants in 1975.

Founded in 2023, USV Bancorp aims to deliver culturally relevant, bilingual banking services to a growing and underserved Vietnamese-American population. With over 150,000 Vietnamese-Americans in Houston and no Vietnamese-owned bank currently operating in the area, this initiative addresses a significant gap in the region’s financial landscape.

“This is more than just a bank, it’s a legacy. It’s about unity, empowerment, and building something our children can be proud of,” said Tri Nguyen, Founder and Chairman of USV Bancorp.

To date, USV Bancorp has raised over $19 million, primarily from Vietnamese-American entrepreneurs in Houston. On April 15, 2025, the company submitted formal applications for regulatory approval to the Federal Reserve Bank and the Office of the Comptroller of the Currency (OCC) to acquire a nationally chartered bank in Texas. Upon approval, the institution will begin operations under the new name USV National Bank.

USV Bancorp’s final capital raise aims to secure an additional $11 million to 31 million by September 30, 2025, to fund operations and support lending, real estate finance, cross-border trade services, and small business support tailored to the Vietnamese and broader Asian-American communities.

The company’s leadership team includes experienced banking professionals and legal counsel from Hunton Andrews Kurth LLP, guiding USV’s long-term strategy, including a potential IPO or sale within 7 to 10 years. Investor materials project an estimated Internal Rate of Return (IRR) of 20% annually, offering a unique opportunity for socially impactful investment.