De novo banks are essential for the health and growth of our industry. If you are considering a new bank charter, you need consultants who have done this before. Young & Associates will assist through every step of starting a de novo bank.
One of the keys to a successful de novo charter is the development of a strong business plan in which the growth characteristics of the market, the capital plans for the new institution, and the management and facilities plans are in harmony for the ultimate benefit of the shareholder. From the beginning, management and the board of directors should focus on shareholder value.
When chartering new financial institutions, Young & Associates will help the organizing group:
- Understand and address the many strategic and regulatory issues involved in chartering a new bank.
- Prepare a comprehensive market study providing an understanding of the market’s growth potential and a realistic amount of capital that would be needed to support de novo bank operations.
- Develop a clear and consistent business plan in a format that is expected by various regulatory agencies.
- Coordinate, prepare, and revise the various charter application documents.
- Develop operating policies and procedures for the newly chartered bank. We have a suite of tested templates for the policies that could be used as a foundation for your management to develop the required de novo bank policies or we can fully customize policies for your unique circumstances. We can also assist with the review of the policies developed by your management team.
- Address the strategic and operational questions that often arise during the organization and application process.
Contact Young & Associates to speak with one of our experienced consultants. We’ll work with you to set your de novo charter on the path for success.