One to Watch: Tandem Bank
Talent Ticker’s One to Watch series focuses on new and up-and-coming businesses and banks that we think you should be keeping on your radar.
With a number of new bank charters bustling to the forefront – following a ten-year drought – de novo banks and the on-trend startup fintechs have been dominating Financial Services news. As the leading staffing market intelligence platform, we know that being first in the know is key to making successful placements. That’s where this series will come into play, and will soon become your best friend.
Joining our latest One to Watch, Coastal Community Bank, and other recent ‘in organization’ banks, Lexicon Bank, VisionBank, and Trustar Bank, this week we’re looking at Atlanta, Georgia-based Tandem Bank.
This de novo, having already received FDIC and Georgia Department of Banking approval, are set to be the first new bank to open in the state in over ten years. Currently raising capital, the bank had been aiming for a third quarter launch date, but so far a date is yet to be announced.
Tandem Bank will be led by CEO and President, Charles DeWitt, a banking veteran who previously served as CharterBank’s President for their North Atlanta Region. The new bank’s leadership team also consists of Libby Walsh as Chief Financial Officer and Michael Keller as Chief Credit Officer. Primarily set to serve the community of Tucker and the surrounding metro Atlanta region, the bank will be located at 2356 Main Street, Tucker, and will focus mainly on commercial banking. Tandem have already raised $18m in startup capital, and are currently raising further capital ahead of their launch.
As the bank sets out, they will primarily focus on basic, necessary services such as checking accounts, loan services for both individuals and businesses, and digital banking and treasury services. In their FDIC application, Tandem stated that they will be looking to partner with third parties to secure the most efficient and capable payroll and merchant services. And yes, Tandem are again a de novo looking to tailor their services to the individual, ensuring they are providing banking services for the everyman – what does that mean? More of the same, basically: they’ll be a bank listening to the needs of the little man and striving to offer more individualism and flexibility than the conglomerate banks currently dominating Atlanta.
But as a new bank looking to influence the community banking market in Atlanta, they are not alone. Also state-approved in May 2019 were Loyal Trust Bank, who, as the second group to file for a banking licence in this region, are hot on Tandem’s heels. That two such applications have been approved is perhaps a good sign though – nothing like healthy competition to create the best opportunities for the banks’ potential clientele! And if the state of Georgia can see scope for both banks to operate, then it certainly would seem that the market has recovered sufficiently to make the survival of both a realistic possibility.
To follow Tandem Bank‘s story, sign up with Talent Ticker and receive notifications and emails that will put you at the front of the pack.
With our new app you can be the first to receive news on the latest developments that interest and affect you with our tailor-made services – wherever you are.
Sign up here: https://www.talentticker.ai/