The Bank Slate


Proposed Ala. bank surpasses initial capital goal

The organizers of the proposed Nova Bank in Huntsville, Ala., have surpassed their capital-raising goal.

The proposed de novo made the announcement on its LinkedIn page.

“To all our investors, we can’t thank you enough for your support and confidence in us!” the group said.

The group originally applied with regulators in August 2021 but withdrew the application last spring. A new application was submitted in September 2022, with a capital goal of $18.5 million.

Organizers recently announced that it had hired Matt Davis as its president. Davis previously served as first vice president of commercial banking at SouthState Bank.

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