North Carolina de novo to open after raising $50 million

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A North Carolina de novo bank is ready to open.

Organizers will open Triad Business Bank in Greensboro on Monday after raising $50 million. The group said in a press release Friday that it plans to raise another $5 million by the end of April.

Triad Business Bank received approval from the Federal Deposit Insurance Corp. and the North Carolina Commissioner of Banks in mid-March. The bank will have offices in Greensboro, High Point and Winston-Salem.

“I want to thank the Triad business community, my board members and my talented team of bankers for their hard work in successfully organizing the Triad’s newest business bank,” Ramsey Hamadi, the bank’s CEO, said in the release. “I believe it will be an economic stimulus and a blessing to the Triad for years to come.”

The bank's organizers include several former bankers at NewBridge Bancorp in Greensboro, which was sold in April 2016 to Yadkin Financial. Yadkin later sold to F.N.B. in Pittsburgh.

Janney Montgomery Scott was the bank’s placement agent for the offering. Brooks Pierce McLendon Humphrey & Leonard was the group’s legal counsel.

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De novo institutions Community banking Capital North Carolina