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Organizers look to open de novo bank in Kentucky

A group in Owensboro, Ky., is planning to form a bank.

Organizers, operating as DC Storage LLC, have applied to the Federal Deposit Insurance Corp. to open Cornerstone Community Bank. The proposed de novo would focus on small and midsize businesses and their owners and employees, real estate investors and developers, and professionals.

Kyle Aud, a former market president at German American Bank, would serve as CEO.

Jonathan Lawson, a former chairman and president of Bank of Ohio County, which sold to First United Bank in 2016, and Steven Ford, a former director at Cardinal Federal Savings Bank and First Security Bank of Owensboro, are among the proposed board members.

Organizers aim to raise $20 million to $30 million in initial capital.

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Paul Davis has 20+ years of experience following the banking industry. He is currently director of market intelligence at SRM, an advisory firm that operates in North America and Europe.

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