WASHINGTON -- A dozen new banks will be formed on the East Coast this year, marking the end of the recession-induced freeze on bank formations, according to a consultant.
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But Arnold Danielson, head of the bank consulting firm Danielson Associates Inc., doesn't think it's the beginning of another wave of start-ups similar to that seen in the region in the late 1980s.
Mr. Danielson's predictions came as part of his yearly look at bank start-ups in the East, which showed that as a group, new banks in the East grew rapidly in their early years but plateaued by year six.
