The Bank Slate


Proposed Calif. de novo plans to raise $25M in initial capital

Organizers of the proposed Elemi Bank in Burbank, Calif., are planning to raise $25 million of initial capital.

The proposed bank would be state-chartered and focus on small and midsize companies and their owners, business professionals and real estate owners and investors, according to the application filed with the Federal Deposit Insurance Corp.

Dana Johnson would serve as the bank’s executive chairman. Johnson was president and chief investment officer of MidAmerica Capital Partners, which owned significant interests in several community banks.

The group declined to identify the proposed bank’s CEO, though the filing noted that the candidate is an experienced banker with more than 40 years of banking experience.

The board includes Michael Helmuth, a veteran banker who recently served as group managing director at Bank of Southern California. The other disclosed directors are Gustavo Mossé, Frank Mushmel, Raj Patel and Michael Shaheen.

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