A group in Moultrie, Ga., is looking to form a bank.
Organizers of the proposed Moultrie Bank & Trust filed an application with the Federal Deposit Insurance Corp. on Wednesday for deposit insurance. The application wasn’t immediately available.
The group is looking to raise $20 million to $25 million in initial capital, said Byron Richardson, a senior consultant at Bank Resources in Atlanta. Bank Resources has been providing consulting services to the organizers.
Donna Lott would serve as the bank’s CEO, while Collin Batchelor would be the chief financial officer.
Lott previously served as an executive vice president at Southwest Georgia Bank. Batchelor previously worked at Ameris Bank.
All but one of the bank’s organizers have ties to Moultrie, Richardson said.
“This is one of the strongest groups I’ve ever worked with,” Richardson added.
A call to Lott wasn’t immediately returned.