De novo institutions

In remarks during CUNA’s online Governmental Affairs Conference, Vice Chairman Kyle Hauptman and board member Rodney Hood bemoaned the lengthy process necessary for launching a new credit union.

Brian Milton, who ran MUFG Union's digital bank, was named head of banking and would become CEO of Thrivent Bank, which plans to have a digitally focused platform and operate as an industrial loan company.

The Fortune 500 conglomerate has had discussions about merging Thrivent Credit Union, which operates independently of the company, into the bank if the charter is approved.

Ken LaRoe, whose First Green Bancorp was sold a few years ago, is seeking approval for a de novo called Climate First Bank that would cater to low-income communities hurt by climate change and favor ecology-minded tech vendors.

Protego Trust Bank in Seattle will focus on providing custody services for investors that hold digital assets. The OCC decision comes weeks after the agency granted permission to a South Dakota trust company to offer crypto-related services.

A group led by Stephen Gordon has received conditional approval from the Federal Deposit Insurance Corp. to open Genesis Bank.

Organizers have been working raising capital and preparing an application for about four years.

Organizers of First Bank of Central Ohio will need to raise $20 million before it opens.

Triad Business Bank opened in North Carolina shortly before the launch of the Paycheck Protection Program, which brought in many clients. CEO Ramsey Hamadi, one of our community bankers to watch in 2021, will have to work hard to retain them after their loans are forgiven.

Organizers of the proposed Legacy Bank must raise $25 million before opening.

Waterfall Bank, which has ties to an investment group that handles affairs for family offices, would be based in the Tampa Bay area.

CEO Wendy Cai-Lee says Piermont Bank can do it all for financial technology firms: be their commercial banker, be their banking-as-a-service provider and develop APIs and other cutting-edge products for them.

American Challenger Bank would offer consumer and commercial products using technology from Temenos. Organizers recently applied with the FDIC for deposit insurance.

A group at George Washington University has been working to open a de novo institution to serve students, but the would-be institution faces a variety of hurdles before it can open its doors.

Integrity Bank for Business is being pursued by a group with ties to Heritage Bankshares, which was sold in 2016.

RockPoint Bank is on pace to open early next year. The announcement comes two weeks after Craft Bank became Atlanta's first new bank since 2010.

Highlands Banking would be based in a community near the state's borders with Georgia and South Carolina.

Agility Bank, one of two women-led groups seeking charters, is looking to open next spring.

Organizers of Scottsdale Community Bank must raise $16 million. The goal is to hit that goal and open by early 2021.

The proposed Multi-Bank shares an address with the Fort Lauderdale, Fla., office of Multi-Bank Securities.