A group of organizers, several of whom are affiliated with Valkyrie Equities Corp., applied Dec. 26, 2019, for deposit insurance with the Federal Deposit Insurance Corp. for TYME Bank, American Banker reported.
The organizers intend to raise $32 million to $36 million in initial capital for the Dallas-based entity, which is expected to open in the third quarter.
Valkyrie Equities Chairman and CFO Joseph Hansen is the proposed CEO and vice chairman for the de novo. Other organizers from Valkyrie include CEO Ken Judd and director Danny Brady.
The proposed bank will not be connected to the brokerage firm.
Beam Real Estate Mortgage and Insurance founder Mani Jacob is expected to serve as the proposed bank's chairman. Patti McKee, former CFO for ViewPoint Bank NA, and Tom Yenne, former executive vice president for Green Bancorp Inc., are also among the organizers.