De novo institutions

Mike Butler will also become president of the de novo, which focuses on technology companies and venture capital firms.

Climate First Bank has raised $29 million in initial capital, surpassing the $17 million target set by the Federal Deposit Insurance Corp.

Organizers of Integrity Bank for Business must raise around $19.9 million before they can open the bank.

Rep. Andy Barr, R-Ky., has introduced legislation to make it easier for new community banks to open in areas that are underserved by the banking system.

Organizers of the Florida de novo will need to raise $17 million in capital before opening.

The tennis legend will also serve as a strategic adviser on gender equality issues and First Women's Bank, which will be mostly owned and run by women.

The fintech, which has applied for a California banking license and federal deposit insurance, aims to become a full-service online bank for 1 million Americans by year-end, says Ron Oliveira, its U.S. chief executive.

Changes to CDFI Fund regulations could make it significantly easier to raise the capital required to get a new institution off the ground.

The de novo, which raised $33 million in initial capital, will become the state's third new bank since the 2008 financial crisis.

Keith Costello, who is looking to form Locality Bank, was president and CEO of First Green Bank when it was sold in 2018.