De novo activity, while far off levels seen before the 2008 financial crisis, had notable momentum in 2022.
Fifteen new banks opened this year, raising at least $362 million in total capital, based on date from the Federal Deposit Insurance Corp. That compares to 10 de novos the year before and eight in 2020. It was the highest single-year total since 2009.
Three banks debuted in Arizona: Scottsdale Community Bank and Gainey Business Bank in Scottsdale and Intrego Bank in Phoenix. Florida also gained three banks: Locality Bank and Evermore Bank in Fort Lauderdale and Gulf Coast Business Bank in Fort Myers.
Other notable de novos included Agility Bank, a Houston bank formed largely by female investors; Walden Mutual Bank in Concord, N.H., the first new mutual in decades; and GS&L Municipal Bank in Gouverneur, N.Y., a commercial bank formed so a mutual can handle municipal deposits.
The FDIC approved 11 applications in 2022. The only groups from that class that have yet to open are the organizers of Community Unity Bank in Birmingham, Mich.; Beach Cities Commercial Bank in Irvine, Calif.; and Adelphi Bank in Columbus, Ohio.
Two banks that gained conditional FDIC approval in 2021 – Highlands Banking Co. in Highlands, N.C., and OUR Community Bank in Hialeah, Fla. – ultimately did not open.