Florida Banking April/May 2026

service, asset quality and strategic planning. Excellence is never an accident.” Murphy calls hiring the right team his most pivotal leadership decision. Shaw emphasizes assembling a leadership team and board with deep market knowledge and shared values before anything else. Usategui highlights bringing together individuals who not only know the market, but find genuine purpose in helping clients. Across the state, de novo leaders agree: culture and talent are foundational. Capital discipline “Capital is king,” Murphy states plainly. In today’s regulatory environment, disciplined capital planning is non-negotiable. Greeley advises organizers to structure business plans projecting profitability no later than the first quarter of year three and to maintain strong leverage ratios in early years. Capital requirements may limit entrants, but they also reinforce long-term stability. Successful de novos measure performance relentlessly and are willing to walk away from opportunities that don’t provide optimal returns. Patience and process Nearly every CEO emphasized patience. “This experience will take longer and require more patience than you expect,” Usategui says. Shaw echoes the sentiment: “A successful de novo isn’t about rushing to open. It’s about building trust with regulators, investors and the community.” From completing detailed biographical and financial documentation to navigating vendor negotiations and regulatory vetting, the process is intricate and exacting. Organization and teamwork are critical at every stage. Above all, Florida’s de novos are defined by community focus. They are built to restore local decision-making, foster entrepreneurship and strengthen regional economies. “They enhance careers, make meaningful community contributions and create investment rewards,” Greeley says. “It is impactful.” Looking Ahead Will de novo formation continue? Marshall expects modest growth over the next five years, driven by continued consolidation, population trends and technological evolution — including AI and emerging financial models. At the same time, new types of applicants, including fintech and nontraditional firms, are entering the charter conversation.

Florida: The Nation’s Most Active State for New Bank Formation Florida leads the nation in post-crisis bank formation, accounting for 15% of de novo banks opened in the United States over the past 10 years.

De Novo Banks Opened by State Feb. 1, 2016-Feb. 27, 2026 State

De Novo Banks Opened

Florida

10

California

8 6 5 4

Ohio

Georgia & Texas

Arizona, New York & Utah

Nationwide

67

Source: FDIC

Built From the Ground Up, Continued from page 7

sought to preserve personal connection after a sale. “They wanted a local bank and didn’t want to lose that personal connection in a digital banking world.” Even in high-growth Central Florida, where opportunity abounds, leaders saw the same pattern. Erik Weiner, Founder, President & CEO and Jay Darulla, COO of Portrait Bank I/O in Winter Park emphasize the importance of restoring local listening and responsiveness in a market where options had narrowed despite population growth. “Even with tremendous population growth in metro Orlando, banking options locally have become more limited,” says Darulla. “Customers are consistently asking for additional choices, and building a new bank right in your hometown is a unique opportunity to meet that need.” Weiner agrees. “A successful de novo bank isn’t built overnight,” he says. “It’s built by listening, earning trust one relationship at a time and staying disciplined through the process.” The DNA of a Successful De Novo Across every interview, several themes emerged — a blueprint for what separates thriving de novos from those that struggle: The right people If there’s one universal principle, it’s that people matter most. Greeley puts it succinctly. “The people. They build their banks focused on shareholder value, customer

Erik Weiner

Jay Darulla

8 | FLORIDA BANKING