How to Start a Community Bank

The process of chartering, capitalizing and opening a community bank is extensive and requires a lot of work by the organizers. Beginning with an accurate feasibility study, followed by development of a thorough business plan and then preparation of regulatory applications are all required tasks of the organizational process.

Identification of the leadership team and development of a capital campaign plan are key components of the process. The team at AchievementSuite can help guide you through the process of starting a bank and provide hands on assistance in developing plans, preparing applications, and managing the complete process from feasibility to opening.

Steps to a Successful De Novo Bank Opening:

The bank formation process typically takes nine to twelve months to complete. AchievementSuite will provide the organizers with the following Deliverables:

  • Initial Organization
    - Formation of organizing group
    - Organizational expense fund development and management

  • Ongoing Project Management of the New Bank Charter Process
    - Development of a project timeline
    - Periodic meetings in with organizers to update the group on the status of the process
    - Arrangement of meetings with regulatory agencies

  • Preparation of documents and applications required by regulatory agencies
    - Feasibility Study
    - Business Plan which includes 3 years financial projections and marketing plan

  • Selection of bank name (assist as needed)

  • Selection of bank location (assist as needed)

  • Management of competent, cost effective Legal, Accounting and Marketing services

  • Completion of Offering Circular and Sale of Stock
    - Preparation and distribution of offering circular
    - Subscription management
    - Management of Investment Banking Services (if needed)
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