Florida de novo to open in June

Climate First Bank is set to open next month.

Organizers for the St. Petersburg, Fla., de novo have slated June 1 as the opening date.

The group raised $29 million in initial capital, eclipsing the $17 million goal set by the Federal Deposit Insurance Corp. when the agency granted conditional approval for the bank.

“Interest in the bank has been extraordinary,” Ken LaRoe, the proposed bank’s CEO, said in the release. “I’ve been getting calls from all over Florida and across the nation from people eager to invest in our mission.”

Climate First’s offerings will include affordable green loan options for residential and commercial solar panel loans for LEED-certified retrofitting and auto loans for EV and hybrid vehicles. The bank will also offer traditional loans and cash management services.

LaRoe was CEO of First Green Bancorp, which was sold to Seacoast Banking Corp. of Florida in 2018.

The FDIC’s approval, issued in late March, came less than six months after organizers submitted an application.