RockPoint Bank cleared to open in Tennessee

RockPoint Bank will open in Chattanooga, Tenn., on Monday, becoming the state’s third de novo since the 2008 financial crisis.

Organizers of the proposed bank said in a press release Friday that they received written approval from the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. earlier this week.

The bank raised over $33 million from about 350 investors.

“We welcome the opportunity to talk about what makes RockPoint different and allows it to fill a void in the local banking landscape,” Hamp Johnston, the bank’s president and CEO, said in the release.

The organizing group filed with the FDIC for deposit insurance in November 2019. It received conditional approval last April.

Johnston formerly was a market executive at JPMorgan Chase and a manager at First Tennessee Bank.

The other de novos to open in Tennessee in recent years are Tennessee Bank & Trust and Studio Bank, both in Nashville.

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