![]() Locally, in 2019, the Dallas-Fort Worth-Arlington MSA represented $295 billion in deposits, which is roughly one-third of all Texas deposits. That figure shows a major increase of 86 percent from 2009, when Texas had only $472 billion in deposits. The state of Texas is home to $878 billion in assets, representing the third-largest state in terms of deposits in the nation. Once approved by regulators, Tyme Bank will join a solid Texas banking landscape. “Farmers Branch and the surrounding DFW market is very diverse with contributions from healthcare, manufacturing, finance, technology, distribution and numerous service industries. “Farmers Branch is in the heart of the DFW area, which is one of the most vibrant metropolitan areas in the Southwest with rapidly growing population, economy, and job market,” Tyme Bank says in its offering circular. And the problem is, businesses sometimes wait months for an answer.”Ĭurrently based in Farmers Branch, Hansen and Judd say they are researching the best site for a permanent facility in that tri-county area. ![]() Time is money, and decisions leaving the state take time, he notes. “We’re needed because we’re the local backup to job creation,” Hansen says. Hansen says a community bank like Tyme could also be an important element for the region during a time of recession. It’s not the size of the boxes, it’s what you put in them,” Hansen says, referring to the multi-box applications submitted to regulators. “Our business plan is coming from our heart. Hansen set out to build a community bank, owned by the community, managed by members of the community, with decisions made here. “I think that’s what sets us apart from everyone else.” “I thought, if I were going to start a new bank, it wouldn’t be to close loans, it would be to open relationships,” he notes. It’s a tool for me to help the community.”Īnd, as banks consolidate in DFW, Hansen says local decision-making is needed. “I wanted to help people grow and prosper economically,” he says. Hansen and the Tyme team saw a gap in the banking landscape. Tyme has also assembled a non-governing advisory board of community evangelists. Hansen says that two local female banking executives will serve as executive officers, but are unidentified because of their current positions at other institutions. Herzog is the group’s chief liquidity officer and credit officer. Also serving as founders and advisers are: Taylor Herzog, Jonathan Price, Ronnie Shalev, Reagan Rorschach, Robby Pettigrew, Joshua Bruton, Trent Tomlin, Prabha Sri, and Gilbert Travis. Together they form the organizing group for the bank. Joining Hansen and Chairman Mani Jacob on the board of directors are banking and business veterans Tom Yenne, Patti McKee, Danny Brady, Geoffrey Sloma, Paul Chacko, and Randall James. “Your board needs to be diverse and represent the members of your community,” he says. For Hansen, that meant assembling a local board of directors. The vision of the bank’s chairman, Mani Jacob, is to be locally owned and locally managed, with local decision making, Hansen says. “It’s a major milestone to get a bank application filed,” he says, and that process starts with a vision. The duo, along with board members and advisers, have been actively working “very methodically and decisively” on forming the bank for about two years. Hansen and Judd say the idea for the bank was sparked three years ago. ![]() The intent is for Tyme to be a place where local account holders, either enterprise businesses or startups, could come to get the kind of service, credit, and funds needed to help build their futures. Hansen says the new community bank will be an important piece in the North Texas economy, serving customers in its target area of Dallas, Denton, and Collin counties. A de novo bank is a new, from scratch, institution that’s not created via either a merger of equals (MOE) or by acquisition. In fact, only 21 de novo bank applications were submitted nationwide in 2019. Tyme Bank was the only de novo application in 2019 from North Texas, and one of only two filed in the state of Texas last year (the other was in Houston), according to S&P Global. In the interview, Hansen and Judd talked about the process they undertook from idea to application and the promise a new bank brings to North Texas. The approval process usually takes roughly 120 days. Hansen and proposed CFO Ken Judd told Dallas Innovates in an interview this week that they hope all approvals will come back in the spring so the bank could open in the third quarter. ![]() Tyme Bank submitted those applications to federal and state regulators. The process has been a three-year journey for proposed CEO Joseph Hansen, who led the bank out of stealth in December to file its applications. A group of Dallas organizers has filed a de novo application for a new bank in North Texas, something that hasn’t happened in the region since 2009. ![]()
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