Board members should not be directly involved with the bank, and a few should have previous banking experience. Appoint a few members over the regulation level in case someone drops out for any reason.
Starting capital ensures all the banks operations and gives the bank a certain amount of collateral. Capital guidelines are found through the primary regulator, either Federal Reserve, FDIC, or OCC. [4] X Research source
You need to demonstrate that a new bank would profit. Showing the plans for growth shows investors what they can expect as a return on their investment (ROI). Before you can open a bank, you have to prove you’ve done research into your competitor’s businesses and that you can either come up with a comparable product or somehow provide a beneficial service no one else has thought up yet.
A bank must also be approved for deposit insurance by the Federal Deposit Insurance Corporation. [6] X Research source
At least three personal banker offices A seating area An inside teller area A drive-thru teller A vault. This can be accessible to both the tellers and deposit box customers, or the bank can house separate vaults. The vault needs to be far into the bank, not near the door. An internal and an external ATM A security guard station
Checking Savings Mortgage Loans Small Business Loans Investment and Planning CDs and other short/long-term savings methods If you are striving for a larger industrial bank, to the above options you will add: Private wealth and investment management Commercial loans - small (less than $1 Million), mid (between $1 Million and $5 Million) and large Targets (above $5 Million in revenue) Commercial DDAs International Banking Online banking
Still, make sure that you always have 10-20% of your overall money held in reserve as a protection for the worst events.
