Zenith Financial Holding Co., the holding company for Scottsdale, Ariz.-based Zenith Bank & Trust, filed a deposit insurance application with the Federal Deposit Insurance Corp. on June 23.
The proposed organization will operate as a commercial bank, providing traditional banking products as well as trust services for customers in the Scottsdale-Phoenix area. Additionally, the bank will provide access to investment management services provided by registered investment adviser affiliates.
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.
Daniel Thompson, former president, organizer and founding board member of First Western Trust Bank, will be Zenith's CEO.
The bank seeks to raise a maximum of $22 million.
So far this year, there have been 14 bank charter applications, including two withdrawn applications, from Boca Raton, Fla.-based PayServices and Las Vegas-based Capital Preferred Savings Bank.
Openings
Scottsdale, Ariz.-based Gainey Business Bank and Murrieta, Calif.-based Legacy Bank began operations June 8 and June 10, respectively, becoming the 8th and 9th de novo banks to open in 2022.
*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.
Applications by state
With Zenith Bank & Trust's application, Arizona is now tied with California at three pending or approved, but not opened, bank deposit insurance applications.
