A group is looking to form a bank in an Atlanta suburb.
Organizers of Tandem Bank applied with the Federal Deposit Insurance Corp. on Friday. The proposed bank would be based in Tucker, Ga.
While the filing did not disclose how much capital organizers plan to raise, a source familiar with their plan said the goal is to bring in $18 million to $25 million. The group is aiming to open Tandem in August, the source said.
"Tandem will strive to be and become the bank of choice for small to mid-sized companies in and around its primary service area," organizers said in their FDIC application. "The board and management believe that the market will support the building of strong community bank with a business focus and entrepreneurial spirit."
The plan is to operate a “branch-light” bank with a main office in Tucker and a suite of technology offerings for commercial and retail clients, the source said.
Charles DeWitt, former president and CEO of Resurgens Bank, is set to become the CEO, the filing said. Resurgens sold itself in 2017 to Charter Financial, which is being bought by CenterState Bank.
A call to DeWitt wasn't immediately returned.
The proposed bank's board includes William Kane, who was president and CEO of Brookhaven Bank, which was sold to Georgia Commerce Bank.
