New bank charter applications of 2022: United Community Bank files

Encino, Calif.-based United Community Bank filed for depository insurance with the Federal Deposit Insurance Corp. on Aug. 31 in the hope of establishing a full-service commercial bank.

The institution will primarily target owners of small and medium-size businesses, business professionals, real estate owners, and investors and other individuals in the San Fernando Valley. According to the application, United Community Bank intends to raise $25 million in initial capital.

Seven individuals were proposed for the board of directors, including Dana Johnson. Johnson, who will also be executive chairman of the board, comes with 40 years of experience in banking, accounting and finance, according to the application. Among other appointments, Johnson was president and chief investment officer of MidAmerica Capital Partners for 20 years.

The names of the proposed CEO, CFO and chief credit officer were kept confidential in the filing.

In this analysis, S&P Global Market Intelligence examined new bank charter applications since 2021. Bank holding companies, shelf charter banks and banks established after charter conversion were excluded.

Bank charter applications in 2022

Eighteen bank charter applications have been filed this year, including three withdrawn applications.

Openings

Katy, Texas-based Texas Traditions Bank opened its doors for business Sept. 6, becoming the 12th de novo bank established this year and the second Texas de novo after Agility Bank NA, which began operations April 18.

* View U.S. industry data for commercial banks, savings banks, and savings and loan associations. * Access more details on banks in organization and de novo banks and thrifts.

Application tally by state

Three deposit insurance applications were approved since S&P Global Market Intelligence's last analysis in early August: Phoenix-based Western Alliance Trust Co. NA; Reno, Nev.-based Inspire Trust Co. NA; and Irvine, Calif.-based Beach Cities Commercial Bank.