Traditional Banks

Starting a De Novo Bank from Jack Henry & Associates, Inc.®

Traditional Banks

The most common banks are the brick and mortar banks, which are banks with branches. Many of them offer online banking, but the online services are optional.

Reasons to Start a Traditional Bank

Although using a traditional bank might seem old-school or too conventional, there are certain advantages unique to banking with a financial institution that has brick-and-mortar branches. Knowing some of the benefits of using a traditional bank can help you decide if it’s a good solution for keeping and handling your money:

  • More options: Whether you want a personal savings or checking account, trust fund, certificate of deposit, Roth IRA, or business checking account, most major financial institutions can provide all these services in one place. Many traditional banks offer wealth management and investment services, too.
  • Convenience: The leading banks, like Chase, Wells Fargo and Bank of America, have brick-and-mortar locations and ATMs — which are free to customers — all over the country.
  • Best of both worlds: Many banks offer customers the flexibility of being able to walk into a branch to deposit cash or to transfer money via a smartphone. Chase Bank, for example, offers QuickPay — a free online service to send or receive money by email — which competes with fintech apps like Venmo and Square Cash. With online banks, you only have the electronic transfer option.
  • Cash deposits: Despite all the progress that fintech has made, the industry still has to contend with a traditional form of currency: cash. For banking customers who deal with cash frequently, a traditional bank is an attractive and convenient option.



Recent News

Read more about starting a bank

New Banks Launch with Jack Henry Banking for Core Processing - Charleston-area Beacon Community Bank joins trend of de novos selecting Jack Henry Banking

Are De Novo Banks on the Rise? - by Cheryl Winokur Munk, Independent Banker

Prices Rise for De Novo Banks - by Bill Poquette,

De Novo Field Widens with S.C. Group's Application - by John Reosti, American Banker

FDIC Releases Final De Novo Handbook - by ABA Banking Journal

2017 Likely to be a Record-Breaking Year for De Novo Banks - by Try Sullivan, TRUPOINT Partners

How Core Conversion Spurred a Community Bank's Explosive Growth - Brian Patrick Eha, American Banker

Bank of Bird-In-Hand, a De Novo Success - Bank of Bird-In-Hand

The Bank of Austin Files to Become City's Newest Bank - Will Anderson, Austin Business Journal

De Novo Bank Overview - by BKD

Additional Resources

Handbook for De Novo Organizers Applying for Deposit Insurance

Download a copy of "Applying for Deposite Insurance: A Handbook for Organizers of De Novo Institutions" from the FDIC here.

Attend a De Novo Outreach Meeting

View a list of upcoming events here. Hosted by the FDIC Community Banking Initiative.

View the De Novo bank application process

Read about the how to start a De Novo bank, the requirements involved, and the application process by clicking here.