De novo institutions

North Carolina de novo to open after raising $50 million

By Paul Davis March 13, 2020, 2:21 p.m. EDT 1 Min Read

A North Carolina de novo bank is ready to open.

Organizers will open Triad Business Bank in Greensboro on Monday after raising $50 million. The group said in a press release Friday that it plans to raise another $5 million by the end of April.

Triad Business Bank received approval from the Federal Deposit Insurance Corp. and the North Carolina Commissioner of Banks in mid-March. The bank will have offices in Greensboro, High Point and Winston-Salem.

“I want to thank the Triad business community, my board members and my talented team of bankers for their hard work in successfully organizing the Triad’s newest business bank,” Ramsey Hamadi, the bank’s CEO, said in the release. “I believe it will be an economic stimulus and a blessing to the Triad for years to come.”

The bank's organizers include several former bankers at NewBridge Bancorp in Greensboro, which was sold in April 2016 to Yadkin Financial. Yadkin later sold to F.N.B. in Pittsburgh.

Janney Montgomery Scott was the bank’s placement agent for the offering. Brooks Pierce McLendon Humphrey & Leonard was the group’s legal counsel.

For reprint and licensing requests for this article, click here.

De novo institutions

Community banking

TRENDING

Consumer banking

20 banks and thrifts with the most assets

The top five banks and thrifts had combined assets of more than $13 trillion as of December 31, 2023.

By Editorial Staff

50m ago
Regulation and compliance

'Through the looking glass': Jamie Dimon sounds off on regulatory burden

The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.

By Catherine Leffert

3h ago
Litigation

If Supreme Court sides with CFPB, 'flurry' of litigation moves forward

Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.

By Kate Berry

9h ago

MORE FROM AMERICAN BANKER

Consumer banking

20 banks and thrifts with the most assets

The top five banks and thrifts had combined assets of more than $13 trillion as of December 31, 2023.

By Editorial Staff

50m ago
Regulation and compliance

'Through the looking glass': Jamie Dimon sounds off on regulatory burden

The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.

By Catherine Leffert

3h ago
Litigation

If Supreme Court sides with CFPB, 'flurry' of litigation moves forward

Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.

By Kate Berry

9h ago
Politics

Democrats push back against Corporate Transparency Act ruling

Lawmakers including one of the original sponsors of the Corporate Transparency Act have filed an amicus brief in the appeal against an Alabama court ruling that the law is unconstitutional, which would throw into question Treasury's newly-established beneficial ownership structure.

By Claire Williams

10h ago
Commercial lending

'Credit darling' Webster Financial reports uptick in defaulted loans

The Connecticut bank —a regional traditionally regarded as a cautious lender — said nonperforming loans and leases rose 53% year-over-year. The uptick was in mostly the commercial-and-industrial loan space, although there was one nonperforming commercial real estate loan, executives said.

By Allissa Kline

April 23
Earnings

Zions, Comerica foresee turnaround on loan growth in late 2024

The two regional banks are anticipating that borrower demand will increase in the back half of the year. High interest rates and economic uncertainty have been muting the appetite for borrowing.

By Catherine Leffert

April 23