As per recent reports, speculations are that two new banks will soon be announcing their debut in the US – Piermont Bank in New York & Nexos National Bank in Stamford, Connecticut.
Piermont Bank, which is a “new generation” of commercial banking, will be focusing its attention on helping clients build and grow their business. The team at Piermont Bank aims to extend its support to privately-owned business, especially those that have lasted multiple generations, i.e. multi-generation family-owned enterprises.
According to Piermont Bank, “We appreciate, respect, and honor the family legacy, business history and aim to address banking needs in the most practical, effective and relevant way for our clients.”
Reports are that the NY-based bank has already received conditional approval from the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) for deposit insurance. The bank, although its opening seems to have been delayed indefinitely, is planned for opening in the Q1 of 2019.
On the other hand, Nexos National Bank, which as it turns out to be, would be the first nationally chartered bank to open in Connecticut since the 2008 financial crisis.
The Stamford-based bank, founded by Gordon Baird, CEO, has Kathleen Romagnano as President and COO. The bank aims to target individual customers and small- and medium-size businesses throughout Fairfield and Westchester counties, with its physically located branches and online offerings.
Although, the Stamford-based Nexos didn’t announce an opening date, yet, expectations are the bank will start its operations within the next 12 months, subject to approvals from both the OCC and FDIC.