Troutman Sanders Advises Loyal Trust Bank in De Novo Charter Approval
ATLANTA – Troutman Sanders LLP is advising Loyal Trust Bank (in organization) in connection with its organization, equity offering, and regulatory applications, and, on August 23, 2019, the organization received conditional approvals from the Federal Deposit Insurance Corporation and the Georgia Department of Banking and Finance. Loyal Trust Bank (in organization) is only the second bank charter to be approved in Georgia in the last 10 years.
Atlanta partner James Stevens and associate Brenna Sheffield are representing Loyal Trust Bank (in organization) with its formation. The pair is also advising Tandem Bank (in organization), which earlier this year was the first bank charter to be approved in Georgia since 2008. Troutman Sanders also advised Trustar Bank, the first bank charter to be approved in Virginia since 2009 earlier this year.
In 2019, Troutman Sanders’ Financial Institutions practice has advised in more bank approvals for deposit insurance by the FDIC than any other law firm in the country. The firm has helped form dozens of de novo banks over the past 25 years and is working with a number of other groups throughout the country seeking to form state and national banks, trust companies, consumer and commercial lenders and other financial services providers.
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