The Bank Slate


Proposed N.H. de novo plans to raise $25 million

Organizers of a proposed bank in Bedford, N.H., plan to raise at least $25 million in initial capital.

Granite First Bank would serve small and midsize businesses, professional services firms, nonprofits, and individuals, organizers said in their application with the Federal Deposit Insurance Corp.

David Cassidy is expected to serve as president and CEO. He was chief lending and credit officer at Centrix Bank, which was sold to Eastern Bank.

The directors are Cassidy, H. Andrew Crews, Samuel Figler, Robert Litterst and Stacey Shaheen-Bellabona.

Crews once was vice chairman of Primary Bank. Shaheen-Bellabona and Figler are lawyers, while Litterst is a senior adviser at Fidelity Investments.

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