Applying for Deposit Insurance

Applying for Deposit Insurance

A Handbook for Organizers of De Novo Institutions

This Handbook is designed to help potential organizers of new or “de novo” institutions become familiar with the deposit insurance application process and the path to obtaining deposit insurance. It provides an overview of the various requirements and considerations involved in the application process. The Handbook additionally incorporates answers to the questions raised during de novo outreach meetings conducted by the FDIC as well as advice and commentary shared by chief executive officers of successful de novo institutions who participated in those events. The Handbook is divided into three sections:

  • Section I: Pre-Filing Activities highlights important considerations for the early stages of institution formation such as identifying organizers, directors, and key officers; developing the institution’s business plan; determining the appropriate amount of capital to be raised; and engaging in pre-filing meetings.
  • Section II: The Application Process discusses the statutory framework for applications for deposit insurance; provides tips for a successful filing; and describes the FDIC’s application evaluation process, including field investigations.
  • Section III: Pre-Opening Activities discusses other key aspects related to the successful opening and operation of an institution.

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