Proposed Colo. de novo gets conditional OCC approval

Battle Financial, the holding company for a proposed digital bank in Avon, Colo., has received conditional approval from the Office of the Comptroller of the Currency. 

Organizers said in a press release that they expect to open the bank early next year.

“I’m pleased to have accomplished this key milestone with the OCC and am excited to be even closer to the official launch of a brand-new digital bank that focuses on client experience, sophisticated solutions and better yields,” Frank Trotter, the proposed bank’s president, said in the release.

Trotter and Vincent Amato, former founders of Everbank, are behind the de novo effort. Everbank sold to TIAA in June 2017. 

Organizers said in their March 2022 application that their business plan includes dealing in precious metals and offering a deposit sweep service to registered investment advisers.