INDEPENDENT BANK DEVELOPERS
An Ideal Time to Start a Bank!
It is indeed an excellent time to start a new bank! Contrary to what you may have heard, banking regulators want to see the formation of new banks.
Martin Gruenberg, Chairman of the FDIC and Thomas Hoenig who serves on the FDIC board with Mr. Gruenberg are long-time supporters of community banks. Their support goes back many years and they are now positioned to be able to be of help. The two run the FDIC.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aFsKPn0jLwSU August 2009 speech
“Gruenberg was appointed to the FDIC board in 2005 and was made vice chairman. After Chairman Donald Powell resigned, Gruenberg served as acting chairman from November 15, 2005, to June 26, 2006.
“He was seen as a supporter of controversial Republican Sheila C. Bair, whom he succeeds, in her aggressive stance toward the banking industry during the financial crisis.”
“On March 6, 2009, Hoenig presented a widely noted speech entitled 'Too Big Has Failed' critical of the approach taken to the capitalization and liquidity crises and suggesting alternate approaches.”
“Again on August 13, 2010, in a speech in Lincoln, Nebraska, Hoenig criticized the then current Federal Reserve action of a zero policy rate calling it "...a dangerous gamble." He also stated, "There may be ways to accelerate GDP growth, but, in my view, highly expansionary monetary policy is not a good option."”
FDIC Advisory Committee on Community Banking
On May 29, 2009, the FDIC Board of Directors approved establishing the FDIC Advisory Committee on Community Banking to provide the FDIC with advice and guidance on a broad range of important policy issues impacting small community banks throughout the country, as well as the local communities they serve, with a focus on rural areas.
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Independent Bank Developers, LLC