Experienced group planning de novo bank in California

Venture Coast Partners is planning a new de novo bank in the San Francisco Bay Area.

In its application filed with the Federal Deposit Insurance Corporation, the organizers of Venture Coast Partners Bank outlined a plan to build a modern community bank that blends relationship banking with advanced technology — aiming to serve entrepreneurs, tech professionals, small businesses, and high-net-worth individuals across the Bay Area.

The proposed bank is seeking FDIC insurance as a California state-chartered non-member bank. Its business plan emphasizes a model designed to address the gaps left by big banks. Product offerings will include personal and business checking and savings accounts, CDs, personal and small business loans, and specialized lending solutions such as home equity lines of credit and commercial real estate financing.

Organizers plan to leverage technology to provide seamless digital onboarding, mobile banking, cash management services, and customized financial advice.

Board of Directors: Deep Financial Expertise

The planned bank’s five-member board has a blend of financial institution leadership, regulatory experience, and risk management expertise:

• Ravi Mallela (CEO): Former CFO of First Hawaiian Bank and NMI Holdings, with executive experience at First Republic Bank, Wells Fargo and Bank of Montreal.

• Nick Deshpande (president and COO): Former managing director at MUFG and senior executive at Wells Fargo.

• Kenneth Justice: A 35-year FDIC veteran with expertise in regulatory compliance, credit risk, and large bank examinations.

• Jim Neckopolus: A former Ernst & Young executive director and director at State Bank of India–California.

• PK Prakash: A former Wells Fargo and MUFG executive and former examiner for the California Banking Department.

In addition to Mallela and Deshpande, the bank has named key executives to oversee day-to-day operations:

• Emily Sidell (EVP of financial operations): Had leadership roles at First Republic Bank and Union Bank of California.

• Chief Lending Officer: A former FDIC examiner-in-charge and mortgage banking executive.

• Chief Financial Officer: A finance and risk management professional with over 20 years in banking.

Capital Raise: Building a Solid Foundation

While specific share amounts and par values are contained in the confidential portion of the application, Venture Coast Partners said it would raise capital exclusively through cash contributions, with no non-cash contributions planned.

The organizers said the capital structure is designed to ensure robust support for internal operations, risk management, technology investments, and branching strategy over the critical early years of the bank’s growth.

Information regarding subscribers, investment levels, and detailed capital allocation remains confidential, but the application notes that no single shareholder will initially own more than 10% of the stock. Organizers have already identified key investors and have structured the offering to maintain strong insider alignment while protecting privacy.