News Topic: De novo institutions

New Enterprise Bank, which would focus on serving "innovative firms," plans to open next year. ... Read full article

When customers contact Wells Fargo, its artificial intelligence system goes to work; what American Express is getting with it purchase of Kabbage; Fannie, Freddie refi fee will wipe out millions in mortgage profits; and more from this week's most-read ... Read full article

Observers say the rare denial is rooted in skepticism that a new bank can succeed under current economic conditions and a signal to other proposed banks to hit the pause button. ... Read full article

ViZ Bank would eventually have branches across several major U.S. cities, including Dallas, Denver and Atlanta. It would also offer a program to help former inmates build savings and establish credit. ... Read full article

Cypress Trust Co. has requested deposit insurance from the Federal Deposit Insurance Corp. ... Read full article

First Bank of Central Ohio would be based near Columbus, where another group opened a bank last year. ... Read full article

Lexicon Bank in Las Vegas, whose chairman was a professional gambler, is actively courting poker players to open deposit accounts for their tournament winnings. ... Read full article

The proposed Chicago de novo would focus on serving female entrepreneurs. ... Read full article

JPMorgan Chase, Fifth Third, Truist among banks closing early to observe Juneteenth; inside the OCC's effort to extract $37.5M from former Wells Fargo execs; banks are at a loss what to do with record amount of funds; and more from this week's ... Read full article

The last bank where he was CEO, Opus Bank, ran into trouble largely because it made too many acquisitions in too short a time span. This time around, Gordon will take a more methodical approach. ... Read full article

Organizers of Coastal Community Bank withdrew their application after the pandemic disrupted efforts to raise capital. ... Read full article

The group behind NewBank is pursuing a charter with the Office of the Comptroller of the Currency to offer banking services nationwide. ... Read full article

Stephen Gordon would become chairman and CEO of Genesis Bank, which is looking to raise $53 million in initial capital. ... Read full article

Craft Bank, which plans to open this summer, is in the final stage of raising $30 million in initial capital. ... Read full article

Triad Business Bank in North Carolina, which opened in March, has made $106 million in Paycheck Protection loans. ... Read full article

Organizers representing five tribes aim to create a financial institution to serve their members. ... Read full article

Organizers of Rockpoint Bank still need to raise $30 million before opening. ... Read full article

The proposed Agility Bank would rely heavily on digital offerings. It is pursing a national charter with the Office of the Comptroller of the Currency. ... Read full article