Bank planned in nation's capital secures FDIC approval
American Banker
JANUARY 10, 2020
Organizers of Founders Bank in Washington are still need to raise at least $25 million before opening.
American Banker
JANUARY 10, 2020
Organizers of Founders Bank in Washington are still need to raise at least $25 million before opening.
PYMNTS
OCTOBER 24, 2019
But Federal Deposit Insurance Corporation (FDIC) coverage — which protects deposits — proved a sticking point this week. 21) that the OCC cannot in fact issue a charter for non-bank enterprises (a segment that included FinTechs) that are not able to get FDIC backing. Can’t get the charter without FDIC coverage.
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South State Correspondent
MARCH 15, 2023
Percentage of Uninsured Deposits: At the time of failure, SVB had approximately 88% of their deposits above the FDIC-insured $250k limit and ran at 95% at the end of last year. Some form of this ratio will likely be applied to the national and regional banks, which means larger community banks will also be judged by this ratio.
PYMNTS
FEBRUARY 19, 2019
The remarks were made at a conference, focusing on the issue of “financial deserts,” involving the struggle for rural communities to feel the benefits of overall national economic strength and a declining unemployment rate. making it one of the nation’s first new community banks in years.
Jeff For Banks
JUNE 20, 2017
The banking system is stable, which is critical to national and state economies. According to the FDIC , disparate impact occurs when a policy or practice applied equally to all applicants has a disproportionate adverse impact on applicants in a protected group. And because deposit insurance is a national program, so should they.
Abrigo
SEPTEMBER 22, 2015
Many community banks see this as a welcomed move towards offering smaller institutions some relief from the regulatory pressures of their larger, national counterparts. Laura Stewart, CEO of Sound Community Bank in Washington said of preparing the call report: "It almost feels like a full-time job."
American Banker
NOVEMBER 29, 2016
Yet there was one statistic that is likely to fuel more calls for help from Washington. s third-quarter earnings report was stacked with good news: record earnings and lending, fewer troubled loans and higher interest and noninterest income.
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