A group of Fresno bankers and business leaders has applied to open California Standard Bank.
The organizers, in their application with the California Department of Financial Protection and Innovation and the Federal Deposit Insurance Corp., said the proposed California Standard would be a traditional business bank, lending to small and midsize businesses, agricultural operations, professionals, and commercial real estate owners and investors.
Kevin Williams would be president and CEO. He was most recently chief banking officer at United Security Bank, after stints as a market president at Bank of the Sierra and senior roles at Comerica, BBVA, and Security First Bank. Kenneth Newby, a former Deloitte partner who was lead independent director at United Security, would serve as chair.
The capital raise and share structure are redacted. The organizers say the bank will be well-capitalized through its first three years, will not pay dividends during the de novo period, and has not yet chosen a core technology provider.