De novos built for niche audiences
Several groups across the country are identifying special niches in which to operate de novo banks. Before the financial crisis, many de novos were built to grow and eventually sell. Now, that model is changing towards permanence. Becoming well known in a niche could be a way for new banks to add value and stand out in a competitive market. In this effort, these groups are striving to create banks for niche communities such as veterans and minorities.