On December 16, the FDIC approved an application for a proposed national bank after fully considering all necessary requirements. As previously covered by InfoBytes, the OCC granted conditional approval to the same bank in October 2025. The FDIC ordered that the bank maintain initial paid-in capital funds of not less than $276 million and a tier 1 leverage ratio of at least 12 percent throughout the first three years of the bank’s operation. The bank must also operate within the parameters of its submitted business plan during the first three years.