News Topic: De novo banks

BNY Mellon snags tech exec from Bank of America as CTO; dissent spreads at CFPB over top aide's writings; Anne Finucane ready to lead BofA's European operations; and more from this week's most-read stories. ... Read full article

MiCommunity Bancorp would be the first bank to open in Michigan in 10 years. ... Read full article

A new agency webpage has information on nearly every aspect of the agency's operations, including de novo applications, bank exams and failures. ... Read full article

Applications this year are more than double the 2017 mark and the most since 2009. But with some fintechs withdrawing their bids, observers are urging caution. ... Read full article

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

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. ... Read full article

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

Organizers of Watermark Bank aim to open early next year. ... Read full article

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. ... Read full article

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

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

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

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. ... Read full article

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

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. ... Read full article

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

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

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. ... Read full article