De novo institutions

During its monthly meeting, the National Credit Union Administration board also approved a proposal to increase CU access to non-member deposits, a move bankers are already railing against.

American Bank & Trust opened after organizers raised more than $22.5 million.

Otoe-Missouria Federal Credit Union in Red Rock, Okla., was designated as a low-income institution.

The coastal city quickly rebounded after being hit by Hurricane Harvey in August 2017.

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.

Alex Sanchez acknowledges that the U.S. has a lot of banks and many failed in the crisis, but he says a healthy economy needs a fresh supply of community lenders to nurture entrepreneurs.

Congress granted banks significant reg relief last year, but incoming ICBA Chairman Preston Kennedy says a lighter touch is needed with Bank Secrecy Act rules, loan-loss modeling and call reports.

Big bank mergers have historically been a catalyst for startups. Experts say it could happen again.

Loyal Trust Bank will have a large number of Asian-American investors and board members.

Gulf Atlantic Bank would be the eighth bank in the market, and just the second with local ownership.

Several groups have gone public with plans to start a bank since the state enacted a law to make it easier, but none have actually filed with the FDIC.