WHY USE BANXSOURCE?
A PROVEN AND TESTED PROCESS FOR A NEW BANK AND HOLDING COMPANY FORMATION-WITH OVER 100 NEW BANK CHARTERS AMONG THE PRINCIPALS-WE HAVE THE EXPERIENCE!!

IS THE BANK CHARTER A BUSINESS PLAN?
YES-IT FULLY DESCRIBES THE BANK’S PRODUCTS, MARKETS AND SERVICES-COMPLETE INTERFACING OPERATING ASSUMPTIONS WITH FINANCIAL PROJECTIONS.

ARE THERE SPECIAL REGULATORY POLICIES AND PROCEDURES THAT APPLY TO DE NOVO BANKS?
CERTAIN RULES AND PRACTICES ARE UNPUBLISHED-SOME PROPOSED TRANSACTIONS SUBSTANTIALLY DELAY APPROVAL OR MAY RESULT IN DENIAL OF THE CHARTER.

HOW DIFFICULT ARE THE BIOGRAPHICAL AND FINANCIAL REPORTS?
DISCLOSURES ARE MUCH MORE DIFFICULT AND COMPREHENSIVE THAN NORMALLY REQUIRED IN BANK FINANCIAL STATEMENTS. MISSING DETAILS CAN CAUSE SERIOUS DELAYS.

HOW MUCH DETAIL IS IN THE APPLICATION PROCESS?
ORGANIZERS USUALLY HAVE BUSINESSES/PROFESSIONS TO MANAGE AND THERE IS NOT SUFFICIENT TIME TO DEVOTE TO PREPARATION OF APPLICATIONS. ASSEMBLING ALL THE PIECES RIGHT, THE FIRST TIME, REQUIRES EXPERIENCE.

WHAT ELSE IS INVOLVED BEYOND THE APPLICATION?
SELECTION OF THE RIGHT SITE-SELECTION OF THE RIGHT EXECUTIVE OFFICERS-WORKING WITH LEGAL COUNSEL ON THE REGISTRATION AND APPLICATION-PREPARATION OF THE PRE-FILING MEETING DOCUMENTS-DEVELOPMENT OF BANK POLICIES AND PROCEDURES.