De novo institutions

Triad Business Bank adds to the list of de novo efforts taking place in the state.

Tandem Bank has approval from the Georgia Department of Banking and Finance as its aims to become the state's first new bank since the financial crisis.

Alternative providers like courting new banks. De novos like the modern features many alternative providers offer upfront.

MiCommunity Bancorp, which will be Michigan's first new bank since the financial crisis, raised $30 million in initial capital.

Organizers of the Bank of St. George have filed an application with the FDIC and state regulators and plan a public stock offering.

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New banks need to add loans to turn a profit. The problem for many is finding the lenders necessary to make that happen.

While regulators now seem eager to help, organizers are discovering that they must raise more capital and have diverse business models to get charters approved.

Community Bank of the Carolinas must raise about $4 million before becoming the state’s first new bank since the financial crisis.

The Association for Black Economic Power will receive an interest-free forgivable loan and a grant from the city to help pay for a retail space and equipment for the effort.