The Bank Slate


Nova Bank organizers refile after management revamp

A group looking to form a bank in Huntsville, Ala., has refiled its application with the Federal Deposit Insurance Corp. after “strengthening” its management team.

Organizers of Nova Bank submitted its first application on Aug. 24. The original paperwork was filed in mid-2021 and withdrawn last April. 

Marc Minish, one of the proposed bank’s 16 organizers, would serve as chief credit officer. He was an FDIC examiner from 2009 to 2018, according to his LinkedIn profile. 

Dwight Rice, another organizer, would serve as chairman. 

Josh McLaurin will serve as the bank’s chief financial officer, while Albert Patridge will become its chief operations officer

The new application did not disclose the proposed bank’s CEO or president because both executives are currently employed at other depository institutions. 

The bank plans to target small real estate investors, high-net-worth entrepreneurs, homebuilders, homebuyers and community supporters, the new application said. 

Organizers plan to raise $18.5 million of initial capital.

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