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From scratch: starting a de novo bank

Considering a De Novo? De Novo or new banks can be sound investments. De Novos are often organized to provide or expand financial services offered to a particular market.

Whatever your reasons for organizing a De Novo bank, make sure you consider those entities that must approve your De Novo charter, both nationally and within the state of your new bank's charter—the Office of the Comptroller of the Currency (OCC) for national banks, your state banking authority for state banks and the Federal Deposit Insurance Corporation (FDIC) for deposit insurance of all banks.

In addition, all of the aforementioned agencies have specific criteria that must be met with regard to the organizing group (usually the initial directors of the institution) and the management. Beyond community need, perhaps key to those criteria are the need for adequate capital to underwrite initial operations and growth along with and management expertise.

Of course, this is just the beginning. Cerfis can help you with the rest. With our years of combined experience in running and managing banks and financial institutions, having Cerfis on your side will help you to navigate the waters of chartering a De Novo bank.