American Banker: Bank Planned in Market Once Known as Industry’s ‘Ring of Death’
The American Banker published an article written by Jackie Stewart with contributions from Lalita Clozel on December 16, 2016 titled “Bank Planned in Market Once Known as Industry’s ‘Ring of Death'”. The article discusses Brightlane Partners client Pacific Metro Bank, and its organizers attempt at being awarded the first bank charter in Georgia since 2010. The Bank is currently one of five de novo applications pending in the U.S.
In April of 2016 the FDIC reduced the time period of heightened supervisory of de novo institutions from seven years to three years, providing further evidence that the regulatory agency is ready to see new bank applications.
Brightlane Partners developed the application and business plan alongside the organizers of Pacific Metro Bank, Jinsong Yang (owner) and Gerald E. Lewis (President & CEO). The bank, if approved, will be located in Johns Creek, Georgia.