With substantial regulatory relief within reach, community bankers should use their clout to shape cybersecurity policy and ensure a level playing field for banks and nonbanks, retiring ICBA chief Cam Fine says.
Spirit Community Bank is being planned in Statesville, a community located about 45 miles north of Charlotte. A separate set of organizers has already shared plans to open a bank east of Charlotte.
Organizers aiming to open a de novo just outside Charlotte say there's a need for a new community bank after several years of consolidation in the market.
Additional consolidation would not strengthen the industry, but would instead leave consumers with less choice and reduced access to financial services.
At least eight banks are in various stages of formation, including two that have opened. While that is nowhere near the de novo activity of the early 2000s, it's a positively brisk pace compared with the standstill that existed for many years after the financial crisis.
