As with any start-up you work with, a de novo bank requires careful vetting.
How do I find a de novo bank near me?
One way is to search the FDIC's Institution Directory. You can search for banks by state or Zip code and date of charter. You can also call state banking authorities or the federal Comptroller of the Currency, whose office formally issues bank charters.
How can I do due diligence on a de novo?
All banks must be insured by the FDIC to get a charter. By using the "bank find" feature on the FDIC's website, you can verify the insurance status of a bank. You can also call the FDIC hot line at 877-ASK-FDIC (877-275-3342).
How can I make sure the bank is right for me?
A lot of this will boil down to personal chemistry. You should also find out what the bank's assets are and how many customers it has. The typical de novo bank with $15 million in assets will have a loan maximum stated in its charter. If the cap is, say, $2 million, and you need that much or more, look elsewhere.