Wednesday, August 4, 2021

Group applies to form Alabama de novo bank

A group is looking to form a bank in Huntsville, Ala. 

Organizers of the proposed Nova Bank applied with the Federal Deposit Insurance Corp. on Monday for deposit insurance. The application wasn’t immediately available.


The organizers are Marc Minish, Timothy Allsopp, Keri Butler, Christina Rutledge, Bo Cochran, J. Russ Hayles, Trey Hodge, Travis Howard, T. Markus Khouri, W. Burton Moffett, Dennis Norton, Craig Paulus, Chris Ray, Darrell Wates and Jesse Whitfield, according to a public notice associated with the effort.


Minish is listed as president of Cove Holdings, an entity associated with the proposed bank, according to his LinkedIn profile. On his profile, Minish said Nova is expected to open in the first quarter of 2022 with a “focus of putting local deposits to work fulfilling local credit needs.”


Minish was a bank examiner with the FDIC from 2009 to 2018, according to his profile.


Efforts to reach Minish weren’t immediately successful.

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