A former Regions Financial Corp. executive is organizing his second Birmingham, Ala.-based de novo.
Commerceone Bank filed an application for deposit insurance with the Federal Deposit Insurance Corp. on Nov. 30.
Director and organizer Kenneth Till is listed as the intended CEO. He is a former senior vice president and assistant comptroller of Birmingham-based Regions, according to the document. Most recently, he served as organizer, director, executive vice president and CFO of Birmingham-based First Partners Financial Inc.
First Partners Bank, the company's subsidiary, was established in 2007, and was acquired by Huntsville-based Progress Bank and Trust in July.
Other former First Partners executives are listed as directors and organizers as well. Arthur Freeman IV will serve as president of the bank, W. Scott Mathews will serve as chief credit officer, and J. David Sizemore will be the chief lending officer.
The proposed board also includes organizers Gail Cooper, John Ennis, Samuel Haskell, Ronald Jackson, Travis Meyer, Elizabeth Pharo, Benjamin Slaughter and Bill Smith.
According to Commerceone's Community Reinvestment Act plan, the bank will serve the Birmingham-Hoover metropolitan statistical area. The MSA is the largest in Alabama, according to the company, and generally "dominated by large, regional banks." Commerceone plans to offer a variety of consumer and commercial loan products.
The company is offering shares of its common stock for $10.00 a share. It plans to issue between 3 million and 5 million shares.
The FDIC comment period ends Dec. 30.
