Proposed Texas bank gets conditional FDIC approval

A proposed bank in Katy, Texas, has received conditional approval from the Federal Deposit Insurance Corp. 

The FDIC on Jan. 7 approved deposit insurance for Texas Traditions Bank. Organizers, who initially filed with the FDIC in January, will need to raise about $35 million before the bank can open. 

Organizers have said they plan to open a second branch in the Webster area.

A public notice submitted earlier this year listed 10 organizers: Ryan Whitzel, Keith Badough, William Kacal, Michael Dierschke, Vicki Keiser, Rand Lassus, Matthew Mabry, Darren Miller, Samuel Morris and John Pritchett.  

Whitzel, a former market president for BancorpSouth, would be the CEO. Badough, a former community bank president at BancorpSouth, would be the president.  

Whitzel and Badough previously worked at Icon Bank of Texas. 

The FDIC has given conditional approval to four proposed banks this year.