A group looking to form a bank in New Orleans has received conditional approval from the Federal Deposit Insurance Corp.
Organizers of the proposed NOLA Bank must raise $26.4 million of initial capital. The bank, which was originally called InclusiveBANK before rebranding, is expected to open as a minority depository institution (MDI).
Joe Omner is expected to serve as president and CEO. He was a former chief operating officer of Parish National Bank.