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.
A legal memo conducted on behalf of the trade group says the agency’s policy goes beyond statutory intent and places undue restrictions on healthy banks.
FNB Bancorp in Utah, which is being sold to Glacier Bancorp, decided that the Montana bank's decentralized model would save jobs and give its management team more autonomy.
