Start Your Own Bank (Really)

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It Only Takes About $20 Million...

By Harrison Sheppard

     Starting a new community bank is easy.     
     Just come up with, oh, say $1 million or so from some of your closest friends to cover start-up costs. Then identify some experienced bankers who can survive a rigorous FBI background check and pry them away from cushy jobs for a risky new venture. Wade through a mountain of government red tape, scout out a brick-and-mortar location, and find a webmaster to set up a virtual branch.     
     And, of course, you’ll need to round up another $10 million to $20 million from investors in start-up capital.     
     Simple, huh?     
     Well, actually, yes.     
     Founders of several new banks in the Sacramento region say the effort requires plenty of hard work, but isn’t overwhelming if you have good consultants and a solid business plan.     
     Robert Ryan, chairman of a group working to establish a new community bank in Yuba City, says the process so far has been challenging, but also fairly straightforward, without any unexpected, nasty surprises.  
Continued...

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