De novo institutions

AmeriNational Community Services plans to form an industrial bank in Nevada.

Colin Walsh, Varo Money's CEO, learned a lot from his first stab at deposit insurance. Lesson one: Work with one regulator at a time.

The student loan servicer called the move a "temporary step back" in what it had expected to be a lengthy process.

Organizers of Watermark Bank aim to open early next year.

Varo Money just received conditional approval from the OCC. Now it has to raise capital, create a CRA plan and get a go-ahead from the FDIC.

The OCC required the company to raise more capital and complete a CRA plan. Varo Bank still needs FDIC and Fed approval before opening.

Organizers of Dogwood State Bank are looking to raise $75 million in hopes of opening by mid-2019.

Organizers of new banks want to cater to underbanked minorities, entrepreneurs, military veterans and other specialized groups.

The move is important for new banks in states like California, where a small-business lending program requires a three-star rating from the agency.

The first meeting is structured like a job interview. After that, organizers should expect plenty of questions about money, management and markets.

Organizers of Piermont Bank said in their application with the FDIC that they want to raise $100 million and eventually operate in several urban coastal communities.

The proposed Piermont Bank would be based in Midtown Manhattan. It is the second de novo being planned in New York.

Bank organizers are picking one another's brains about hiring decisions, applications and raising capital as part of the monthslong effort to secure charters.

Tekalign Gedamu, who would chair Marathon International Bank, says that Zekarias Tamrat is bad-mouthing the de novo effort following his dismissal and a subsequent payment disagreement. Tamrat was slated to be the bank's president.

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Zekarias Tamrat blamed the proposed Marathon International Bank's chairman and directors for delays in getting its application approved.

A task force created by the American Bankers Association asserts that applying for a bank charter is too time-consuming and that some de novo rules are too rigid.

At least six groups are exploring opening new banks in the state, which is enjoying an economic recovery and has a dearth of local financial institutions.

Organizers of Dogwood State Bank want to open Raleigh's first new bank since the financial crisis.

Organizers of Gainey Business Bank, a bank planned in Scottsdale, received approval from the state's banking regulator to raise capital while completing a charter application.