First De Novo Since 2013 Officially Opens in New Hampshire

With final authorization from the New Hampshire Department of Banking yesterday, Primary Bank in Bedford, N.H., yesterday became the newest U.S. bank to open for business. The bank start-up is the first since the Bank of Bird-in-Hand, Bird-in-Hand, Pa., was chartered in 2013, and only the second de novo charter since 2010.

“I am so pleased that the founders of Primary Bank chose to locate in New Hampshire,” said Glenn Parlow, the state’s banking commissioner. “It is a real testament to the improving state economy and the entrepreneurial spirit of New Hampshire citizens.”

ABA applauded the news. The association has for several years called on regulators to resume the process of chartering new banks, which has ground to a near-halt. In recent months, regulators have expressed more openness to new charters.