RockPoint Bank will open in Chattanooga, Tenn., on Monday, becoming the state’s third de novo since the 2008 financial crisis.
Organizers of the proposed bank said in a press release Friday that they received written approval from the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. earlier this week.
The bank raised over $33 million from about 350 investors.
“We welcome the opportunity to talk about what makes RockPoint different and allows it to fill a void in the local banking landscape,” Hamp Johnston, the bank’s president and CEO, said in the release.
The organizing group
Johnston formerly was a market executive at JPMorgan Chase and a manager at First Tennessee Bank.
The other de novos to open in Tennessee in recent years are Tennessee Bank & Trust and Studio Bank, both in Nashville.
