De novo institutions

Native American tribe behind push for Calif. de novo bank


The Soboba Band of Luiseño Indians plans to form a holding company and raise $25 million for Legacy Bank.


Organizers planning bank in Southern California


A group has filed paperwork with the FDIC to form Legacy Bank in Temecula.


Group behind Arizona de novo files with FDIC year after getting state approval


Scottsdale Community Bank's organizers took advantage of a state law letting them raise capital months before seeking deposit insurance.


Brokerage firm pursuing industrial charter would create digital bank


More details have surfaced about Interactive Brokers' planned bank. It would accept deposits and originate loans through an online channel only, its application says.


Brokerage firm pursuing Utah industrial bank charter


A group affiliated with Interactive Brokerage Group has filed an application with the FDIC to form Interactive Bank.


Organizers file to form Arizona de novo with underbanked focus


Verdigris Bank would also rely heavily on technology as part of its business plan.


14 years after Walmart, banks face a new ILC bogeyman


The Rakuten application has opened another front in the battle over nonfinancial companies' ownership of banks.


Group applies to form bank in Ohio


The application for Riverside Bank of Dublin comes just six months after another group opened a bank in a nearby market.


Executives at Miami-area microlender apply to form a bank


OUR Community Bank would focus on small-business loans with an emphasis on underserved Hispanic and Latino communities in South Florida.


It's not enough to fix the de novo application process


Even with the FDIC actively encouraging groups to start banks, challenges like raising capital and low interest rates make it tough.