Key Takeaways
- The FDIC approved deposit insurance for 63 proposed banks from January 1, 2021 to October 19, 2026, and 27 applications were pending on October 24, 2026, according to FDIC records.
- Five of the approvals were for industrial banks, as the FDIC's orders describe them; the median industrial bank was required to start with $330 million of capital, against $25 million for the other approvals.
- 43 of the approved banks have opened, according to FDIC BankFind, six will not open, and 14 had not opened by October 24, 2026.
- The oldest pending application on the FDIC's list was received on March 13, 2025.
The FDIC approved deposit insurance for 63 proposed new banks from January 1, 2021 to October 19, 2026, 17 of them in 2026, and 27 more applications were pending on October 24, 2026, according to FDIC records. The five industrial banks among the approvals were required to start with a median of $330 million in capital, against $25 million for state-chartered commercial and savings banks. The four national banks approved needed a median of $175 million, and the largest single requirement was $1.5 billion, for Ford Credit Bank, according to its FDIC order.
No government record calls an applicant a fintech, so this page does not either. Each bank is described in the words of its own FDIC order, such as "a proposed Utah-chartered industrial bank" or "a proposed national bank", and the capital figure is the minimum the order sets as its first condition.
insurance approvals since 2021, from FDIC orders, led by Ford Credit Bank at $1.5 billion">
Every approval since 2021
Newest first: each application for deposit insurance the FDIC decided from January 1, 2021 to October 24, 2026, as its decisions table and the order it links record it. According to the FDIC's orders, every application decided in this span was approved. The status is the FDIC's: an opening date, "will not open", or no date yet.
| Approved | Bank | Headquarters | As the FDIC order describes it | Minimum initial capital | Status | Source |
|---|---|---|---|---|---|---|
| October 19, 2026 | Strategist Bank | Bedford, NH | proposed state nonmember bank | $30 million | Not yet opened | FDIC order |
| October 2, 2026 | Alba Bank | Houston, TX | proposed new State Non-Member bank | $37 million | Not yet opened | FDIC order |
| September 28, 2026 | New South Bank | Tampa, FL | proposed new state nonmember bank | $25 million | Not yet opened | FDIC order |
| September 8, 2026 | Mercury Bank, N.A. | Salt Lake City, UT | proposed national bank | $300 million | Not yet opened | FDIC order |
| August 21, 2026 | VALT Bank, N.A. | Eagle, ID | proposed national bank | $25 million | Not yet opened | FDIC order |
| July 31, 2026 | Augustus National Bank, N.A. | Dallas, TX | proposed national bank | $74 million | Not yet opened | FDIC order |
| June 30, 2026 | Bank of St. George | St. George, UT | proposed state nonmember bank | $20 million | Not yet opened | FDIC order |
| June 11, 2026 | TriCoast Bank | Burbank, CA | proposed new state nonmember bank | $25 million | Not yet opened | FDIC order |
| May 13, 2026 | Stellantis Bank USA | Salt Lake City, UT | proposed Utah-chartered nonmember industrial bank | $150 million | Not yet opened | FDIC order |
| April 3, 2026 | Private Bank & Trust | Gainesville, GA | proposed new state nonmember bank | $19 million | Opened September 28, 2026 | FDIC order |
| March 3, 2026 | United Development Bank | Bellevue, WA | proposed state nonmember bank | $15 million | Not yet opened | FDIC order |
| February 24, 2026 | Edward Jones Bank | Salt Lake City, UT | proposed Utah-chartered industrial bank | $330 million | Not yet opened | FDIC order |
| February 5, 2026 | Portrait Bank | Winter Park, FL | proposed new state nonmember bank | $28 million | Opened June 22, 2026 | FDIC order |
| January 30, 2026 | Cornerstone Community Bank | Owensboro, KY | proposed state nonmember bank | $20 million | Opened June 8, 2026 | FDIC order |
| January 22, 2026 | Ford Credit Bank | Salt Lake City, UT | proposed Utah-chartered nonmember industrial bank | $1.5 billion | Not yet opened | FDIC order |
| January 22, 2026 | GM Financial Bank | Salt Lake City, UT | proposed Utah-chartered nonmember industrial bank | $667 million | Not yet opened | FDIC order |
| January 5, 2026 | Echelon Bank | Clearwater, FL | proposed new state nonmember bank | $23 million | Opened May 27, 2026 | FDIC order |
| December 16, 2025 | Erebor Bank, N.A. | Columbus, OH | proposed national bank | $276 million | Opened February 6, 2026 | FDIC order |
| December 3, 2025 | Georgia Skyline Bank | Roswell, GA | proposed new state nonmember bank | $25 million | Will not open (FDIC) | FDIC order |
| September 16, 2025 | Liberty Bank of New Jersey | Verona, NJ | proposed new state nonmember bank | $40 million | Opened January 21, 2026 | FDIC order |
| August 21, 2025 | Generations Community Bank (spin-off) | Indianapolis, IN | proposed state nonmember bank | $24 million | Opened March 9, 2026 | FDIC order |
| August 11, 2025 | NOLA Bank | New Orleans, LA | proposed new State nonmember bank | $26 million | Opened September 14, 2026 | FDIC order |
| July 3, 2025 | Quantum Bank | Los Angeles, CA | proposed new state nonmember bank | $35 million | Will not open (FDIC) | FDIC order |
| April 2, 2025 | Houston Bank and Trust | Houston, TX | proposed new State Non-member bank | $35 million | Opened May 22, 2026 | FDIC order |
| November 25, 2024 | Solutions Plus Bank | Albertville, AL | proposed new state nonmember bank | $27 million | Opened December 4, 2025 | FDIC order |
| November 21, 2024 | Elemi Bank | Encino, CA | proposed state nonmember bank | $25 million | Will not open (FDIC) | FDIC order |
| September 24, 2024 | Five Rivers Bank | Paramus, NJ | proposed new state nonmember bank | $34 million | Opened May 12, 2025 | FDIC order |
| September 9, 2024 | Altos Bank | Los Altos, CA | proposed new state nonmember bank | $25 million | Opened November 25, 2024 | FDIC order |
| August 19, 2024 | Gala Bank | Ocala, FL | proposed new state nonmember bank | $11 million | Opened December 30, 2024 | FDIC order |
| August 6, 2024 | BankMiami | Coral Gables, FL | proposed new state nonmember bank | $31 million | Opened March 17, 2025 | FDIC order |
| July 29, 2024 | Greater Gotham Bank | White Plains, NY | proposed new state non-member bank | $50 million | Not yet opened | FDIC order |
| June 20, 2024 | Thrivent Bank | Salt Lake City, UT | proposed Utah-chartered industrial bank | $280 million | Opened June 1, 2025 | FDIC order |
| June 10, 2024 | Four States Bank | Carthage, MO | proposed new state-chartered nonmember bank | $24 million | Opened August 26, 2024 | FDIC order |
| March 13, 2024 | Integrity Bank, SSB | Houston, TX | proposed new State Member bank | $37 million | Opened October 11, 2024 | FDIC order |
| February 23, 2024 | Fortuna Bank | Grandview Heights, OH | proposed state nonmember bank | $20 million | Opened December 9, 2024 | FDIC order |
| August 18, 2023 | Orca Bank | Bellingham, WA | proposed state nonmember bank | $15 million | Will not open (FDIC) | FDIC order |
| August 11, 2023 | Nave Bank | San Juan, PR | proposed new state member bank | $96 million | Opened September 18, 2023 | FDIC order |
| May 17, 2023 | Zenith Bank & Trust | Scottsdale, AZ | proposed state non-member bank | $22 million | Opened October 2, 2023 | FDIC order |
| March 21, 2023 | Nova Bank | Huntsville, AL | proposed new state nonmember bank | $22 million | Opened January 26, 2024 | FDIC order |
| January 27, 2023 | Icon Business Bank | Riverside, CA | proposed state non-member bank | $23 million | Opened August 22, 2023 | FDIC order |
| September 26, 2022 | Walden Mutual Bank | Concord, NH | proposed New Hampshire-chartered, nonmember mutual bank | $22 million | Opened October 5, 2022 | FDIC order |
| September 23, 2022 | Community Unity Bank | Birmingham, MI | proposed state nonmember bank | $23 million | Opened June 26, 2023 | FDIC order |
| August 24, 2022 | Beach Cities Commercial Bank | Irvine, CA | proposed state nonmember bank | $25 million | Opened June 12, 2023 | FDIC order |
| July 29, 2022 | GS&L Municipal Bank (spin-off) | Gouverneur, NY | proposed new state non- member bank | $3 million | Opened September 16, 2022 | FDIC order |
| July 28, 2022 | Bank Irvine | Irvine, CA | proposed state nonmember bank | $25 million | Opened October 18, 2022 | FDIC order |
| July 20, 2022 | Evermore Bank | Fort Lauderdale, FL | proposed new state nonmember bank | $25 million | Opened December 15, 2022 | FDIC order |
| July 15, 2022 | Bank of Burlington | Burlington, VT | proposed new state non-member bank | $33 million | Opened August 2, 2022 | FDIC order |
| July 7, 2022 | Texas Traditions Bank | Katy, TX | proposed new State Non-Member bank | $35 million | Opened September 6, 2022 | FDIC order |
| May 26, 2022 | Adelphi Bank | Columbus, OH | proposed state nonmember bank | $18 million | Opened January 18, 2023 | FDIC order |
| May 20, 2022 | Integro Bank | Phoenix, AZ | proposed new state nonmember bank | $28 million | Opened June 21, 2022 | FDIC order |
| January 27, 2022 | EntreBank | Bloomington, MN | proposed new state-chartered nonmember bank | $32 million | Opened March 21, 2022 | FDIC order |
| December 13, 2021 | Moultrie Bank & Trust | Moultrie, GA | proposed new state nonmember bank | $20 million | Opened May 9, 2022 | FDIC order |
| November 5, 2021 | Gulf Coast Business Bank | Fort Myers, FL | proposed new state nonmember bank | $19 million | Opened June 6, 2022 | FDIC order |
| November 1, 2021 | Locality Bank | Fort Lauderdale, FL | proposed new state nonmember bank | $23 million | Opened January 12, 2022 | FDIC order |
| September 8, 2021 | Waterfall Bank | Clearwater, FL | proposed new state nonmember bank | $45 million | Opened September 20, 2021 | FDIC order |
| August 12, 2021 | Gainey Business Bank | Scottsdale, AZ | proposed new state nonmember bank | $15 million | Opened June 8, 2022 | FDIC order |
| July 22, 2021 | Cypress Bank & Trust | Melbourne, FL | proposed new Florida state nonmember bank | $17 million | Opened August 16, 2021 | FDIC order |
| June 1, 2021 | Highlands Banking Company | Highlands, NC | proposed new state nonmember bank | $14 million | Will not open (FDIC) | FDIC order |
| April 13, 2021 | Integrity Bank for Business | Virginia Beach, VA | proposed new state member bank | $20 million | Opened May 3, 2021 | FDIC order |
| March 26, 2021 | Climate First Bank | Saint Petersburg, FL | proposed new State nonmember bank | $17 million | Opened June 1, 2021 | FDIC order |
| March 5, 2021 | OUR Community Bank | Hialeah, FL | proposed new state member bank | $18 million | Will not open (FDIC) | FDIC order |
| January 29, 2021 | Genesis Bank | Newport Beach, CA | proposed new state nonmember bank | $53 million | Opened August 2, 2021 | FDIC order |
| January 5, 2021 | First Bank of Central Ohio | Worthington, OH | proposed state nonmember bank | $20 million | Opened April 12, 2021 | FDIC order |
Download this table (CSV), free. The full dataset, with each order's own sentences for the type and the capital, the FDIC application and certificate numbers, the charter class and assets of each bank that has opened, and the pending list, is one email away.
By type, as the orders state it
| Type, as the orders state it | Approvals | Opened | Median minimum initial capital | Source |
|---|---|---|---|---|
| State bank, not a Federal Reserve member | 50 | 38 | $25 million | FDIC |
| Industrial bank (state charter) | 5 | 1 | $330 million | FDIC |
| National bank (OCC charter) | 4 | 1 | $175 million | FDIC |
| State bank, Federal Reserve member | 4 | 3 | $28 million | FDIC |
According to FDIC records, 43 of the 63 approved banks have opened, six will not open, and 14 had not opened by October 24, 2026. Of the 58 approvals that were not industrial banks, two required at least the smallest industrial bank figure, $150 million, and all of them were national banks, according to the FDIC's orders.
By year
According to FDIC records, 17 applications were approved in 2026 through October 24, 2026. That is more than in any full year since 2021.
| Year | Approvals | Industrial banks | National banks | Source |
|---|---|---|---|---|
| 2021 | 12 | 0 | 0 | FDIC |
| 2022 | 11 | 0 | 0 | FDIC |
| 2023 | 5 | 0 | 0 | FDIC |
| 2024 | 11 | 1 | 0 | FDIC |
| 2025 | 7 | 0 | 1 | FDIC |
| 2026 (to October 24, 2026) | 17 | 4 | 3 | FDIC |
Pending applications
The FDIC lists these applications to insure a new bank as received and not yet decided, oldest first. The list states no charter type, so none is given here; the name is as the FDIC lists it. According to the FDIC, 24 of the 27 were received in 2026, and the oldest, OneMain Bank, on March 13, 2025.
| Received | Proposed bank, as listed | Location | Source |
|---|---|---|---|
| March 13, 2025 | OneMain Bank | West Valley City, UT | FDIC |
| October 29, 2025 | Nubank, National Association | McLean, VA | FDIC |
| December 15, 2025 | PayPal Bank | Salt Lake City, UT | FDIC |
| January 23, 2026 | Affirm Bank | Henderson, NV | FDIC |
| March 5, 2026 | Revolut Bank US, N.A. | Stamford, CT | FDIC |
| March 16, 2026 | Itaú Bank, National Association | Miami, FL | FDIC |
| March 23, 2026 | Tidestone Bank | Coral Gables, FL | FDIC |
| March 25, 2026 | Upstart Bank, National Association | Wilmington, DE | FDIC |
| April 13, 2026 | OpenReserve Bank, National Association | Salt Lake City, UT | FDIC |
| April 16, 2026 | Florida Bank of Finance | Coral Gables, FL | FDIC |
| April 20, 2026 | Mission Lane Bank, National Association | Richmond, VA | FDIC |
| May 21, 2026 | Venture Coast Partners LLC | San Francisco, CA | FDIC |
| May 27, 2026 | Dorado Bank | San Juan, PR | FDIC |
| June 2, 2026 | Glades Bank and Trust | Plantation, FL | FDIC |
| June 24, 2026 | Novus Bank | Edmond, OK | FDIC |
| July 6, 2026 | Klarna Bank USA | Salt Lake City, UT | FDIC |
| July 14, 2026 | Sagehaven Bancorp, N.A. | Pittsburgh, PA | FDIC |
| July 20, 2026 | Albert Bank | Salt Lake City, UT | FDIC |
| July 23, 2026 | Flex Bank | Lehi, UT | FDIC |
| August 10, 2026 | Stark Bank, N.A. | Miami, FL | FDIC |
| August 31, 2026 | Bank Elevated | Frisco, TX | FDIC |
| September 8, 2026 | Texas Patriot Bank | Frisco, TX | FDIC |
| September 17, 2026 | California Standard Bank | Fresno, CA | FDIC |
| September 18, 2026 | Avant Bank, N.A. | Chicago, IL | FDIC |
| September 24, 2026 | Mooddai International Bank | Washington, DC | FDIC |
| October 8, 2026 | Final Finance Bank | Seattle, WA | FDIC |
| October 9, 2026 | Upgrade Bank | Las Vegas, NV | FDIC |
What this means for technology buyers
A new bank chooses its core, payments and compliance stack before it opens, and a bank started by an existing company has to connect that stack to the systems the company already runs. The orders also set conditions that the bank must meet and report on from the start, which makes regulatory reporting and monitoring part of the first build rather than something added later. These guides compare the options side by side:
- Core banking systems for neobanks: the ledger a new, digital-first bank is built on.
- Cloud-based core banking systems: hosted cores for a bank starting without legacy systems.
- Banking-as-a-service platforms for traditional banks: the other route a company takes to offer bank products.
- AML transaction monitoring for banks and fintechs: monitoring payment activity for money laundering risk.
Planning the bank before choosing the vendors? The Core Banking Transformation Toolkit lays out the capabilities and decisions behind a core banking build.
More from Finantrix Atlas
- New US banks: de novo openings by year
- Money transmitters licensed in the US
- Largest banks in the US
- Bank enforcement actions
How this list was built
The approvals are every row of the FDIC's deposit insurance decisions table with an action date from January 1, 2021 on. Each row links the FDIC's order, and each order was read in full: the type is the phrase in which the order names the proposed bank, the capital is the minimum initial paid-in capital in the order's first condition, and the decision is the order's own word. Every order in the span states all three.
Each approved bank that the table shows as open was found in the FDIC's BankFind Suite by its certificate number, insured on the day the table gives, on an FDIC charter class that fits the type its order states. One of them operated before it was insured, and BankFind records an earlier establishment date. No approval the table shows as unopened is an operating institution in BankFind. The pending applications are the FDIC's own list, as of October 24, 2026.
Limits
- FDIC records only. A charter that needs no FDIC insurance never reaches these records: an uninsured national trust bank chartered by the Office of the Comptroller of the Currency, for example. The OCC's own records of charter decisions were not read for this page, so OCC charter approvals for uninsured institutions, and OCC decisions on banks that have not yet applied for insurance, are not here.
- Approval is not opening. An approval is conditional, and a bank can take months to open or not open at all; the status column says which.
- The capital figure is a minimum. It is the least the order requires before the bank opens, not what the bank raised.
- Names as the FDIC records them. Pending applications are listed under the proposed bank's name, which can differ from the company behind it, and the list states no charter type.
- No labels. The page does not say which applicants are technology companies; each is described only in the FDIC's words.
- Data date. The FDIC's records as read on October 24, 2026, covering decisions from January 1, 2021.
Cite this
Free to quote, cite and republish, including the chart, with credit to Finantrix Atlas and a link to this page.
The FDIC approved deposit insurance for 63 proposed new banks from January 1, 2021 to October 19, 2026, and 27 applications were pending on October 24, 2026, according to a Finantrix Atlas analysis of FDIC records.
The five industrial banks the FDIC approved since 2021 were required to start with a median of $330 million in capital, according to their FDIC orders, compiled by Finantrix Atlas.
Suggested citation: Finantrix Atlas, "New Bank Charters: FDIC Approvals and Pending Applications," records as of October 24, 2026, from FDIC deposit insurance decisions and orders. https://www.finantrix.com/articles/new-bank-charters
Embed the chart:
<a href="https://www.finantrix.com/articles/new-bank-charters"><img src="https://www.finantrix.com/atlas/new-bank-charters.png" alt="Minimum starting capital in FDIC deposit insurance approvals, from FDIC orders, by Finantrix Atlas"></a>
<p>Chart: <a href="https://www.finantrix.com/articles/new-bank-charters">Finantrix Atlas</a>, from FDIC deposit insurance orders.</p>
Frequently asked questions
Q: How many new banks has the FDIC approved recently? A: 63 from January 1, 2021 to October 19, 2026, according to the FDIC's deposit insurance decisions, 17 of them in 2026.
Q: How many bank charter applications are pending at the FDIC? A: 27 applications for deposit insurance for a new bank were on the FDIC's pending list on October 24, 2026, the oldest received on March 13, 2025.
Q: How much capital does a new bank need? A: It depends on the bank. Across the FDIC's approvals since 2021, the median minimum initial capital was $25 million for state-chartered commercial and savings banks, $175 million for national banks and $330 million for industrial banks, according to the FDIC's orders.
Q: What is an industrial bank? A: A bank chartered by a state as an industrial bank, as the FDIC's orders describe it. Five were approved for deposit insurance from January 1, 2021 to October 19, 2026, all of them chartered in Utah, according to FDIC records.
Download the data
The 63 rows on this page (CSV), free. The full dataset has all 90 rows, as of October 24, 2026; we email you a link.
Frequently Asked Questions
How many new banks has the FDIC approved recently?
63 from January 1, 2021 to October 19, 2026, according to the FDIC's deposit insurance decisions, 17 of them in 2026.
How many bank charter applications are pending at the FDIC?
27 applications for deposit insurance for a new bank were on the FDIC's pending list on October 24, 2026, the oldest received on March 13, 2025.
How much capital does a new bank need?
It depends on the bank. Across the FDIC's approvals since 2021, the median minimum initial capital was $25 million for state-chartered commercial and savings banks, $175 million for national banks and $330 million for industrial banks, according to the FDIC's orders.
What is an industrial bank?
A bank chartered by a state as an industrial bank, as the FDIC's orders describe it. Five were approved for deposit insurance from January 1, 2021 to October 19, 2026, all of them chartered in Utah, according to FDIC records.