De novo institutions

Regulators have hinted that they're warming up to the idea of startups, but industry veteran George Groves is raising money to buy an existing bank because he fears the approval process would take too long.

Bank of Austin still needs approval from the Federal Deposit Insurance Corp., though organizers remain hopeful it can open this summer.

The Office of the Comptroller of the Currency has given preliminary conditional approval for Winter Park National Bank, allowing organizers to work on office space, hire staff and raise capital.

Arizona, Nevada, Florida and North Carolina have lost more banks than other states, based on the percentage decline since 2010. Each has a unique set of reasons that goes beyond regulation and a dearth of de novo activity.

As the House Financial Services Committee prepares for a hearing on the struggles of chartering new financial institutions, CU observers debate whether or not the credit union movement – amid an ongoing trend of industry consolidation – actually needs any new entrants.

Numerous investor groups have submitted applications in recent months to open new banks. While far from a surge, the filings show that bankers are warming up to the idea of new charters. Here is a look at many of those efforts.

A strong economy, an abundance of small businesses and a shakeout from industry consolidation are making the area between Los Angeles and San Diego appealing to bank organizers.

National charters have fallen out of favor in recent years, but that isn't deterring David Dotherow from pursuing one for his Florida de novo.

TNB Corp., which plans to offer deposits to institutional investors, would not have branches or retail deposits.