The Federal Deposit Insurance Corp. has given conditional approval for a new bank in Houston.
Organizers of the proposed Integrity Bank must raise $37 million prior to opening, according to the FDIC’s order. Integrity plans to operate as a state-chartered savings bank.
The group of 19 organizers originally applied with the FDIC in June 2023. Charles Neff Jr. would serve as chairman and CEO; Hazem Ahmed would be the proposed bank’s president.
The Houston area has been fertile ground for new banks. Gulf Capital Bank opened in December 2019, while Agility Bank launched in April 2022. Texas Traditions Bank opened in Katy last fall.
Organizers have also been looking to form Houston Bank of Commerce & Trust and Inspire Bank.