When the coronavirus pandemic began, Craft Bank was just about to begin its capital raise as a de novo community bank in Atlanta. With its roadshow about to begin, CEO Ross Mynatt and his small team threw out the playbook and began pivoting.
Browsing: De novo banks
The American Bankers Association wrote to the FDIC today expressing strong opposition to another attempt by Rakuten, a major Japanese e-commerce company, to obtain federal deposit insurance.
The FDIC today finalized a rule requiring certain conditions and commitments for deposit insurance applications from an industrial loan company whose parent company is not subject to Federal Reserve supervision.
A conversation with Wendy Cai-Lee of de novo Piermont Bank on the unique needs of multigenerational family firms.
Wendy Cai-Lee leads one of the latest crop of U.S. de novo banks: Piermont Bank, opened to address “pain points” faced by middle-market businesses.
A recent deposit insurance application by Rakuten—a major Japanese e-commerce company—for its U.S. bank subsidiary Rakuten Bank America could pose potential risks for the Deposit Insurance Fund if approved, the American Bankers Association cautioned in a letter to FDIC Chairman Jelena McWilliams today.
The FDIC today announced several changes to its Deposit Insurance Application Procedures Manual.
With several serial acquirers out of the market, scarcer targets for purchase and non-traditional deals on the rise, expect banks to turn to experienced matchmakers in 2020 to navigate M&A.
The application by Rakuten—a major Japanese e-commerce company—for deposit insurance for its prospective U.S. bank subsidiary does not meet requirements imposed by the Federal Deposit Insurance Act, ABA and the Bank Policy Institute told the FDIC in a letter today.