Press Release: FDIC Announces New Review Process for Deposit Insurance Applications

PRESS RELEASE | AUGUST 10, 2026 Press Release: FDIC Announces New Review Process for Deposit Insurance Applications WASHINGTON—The Federal Deposit Insurance Corporation (FDIC) today announced a new two-phase process the agency will use to review new deposit insurance applications. The new procedures are intended to encourage new bank formation, accelerate the speed of the review process, and improve the efficiency of the application process. “Improving the de novo process and encouraging more new bank formation has been a key priority for the FDIC,” said Chairman Travis Hill. “Today’s action is one of several steps the FDIC has been working on in furtherance of this goal. A healthy pipeline of new entrants is critical to the long-term vitality of the banking sector, particularly for community banks.” Under the new two-phase approach, the FDIC will provide de novo applicants who satisfy relevant requirements: (1) a contingent authorization within 120 days of receiving the application; and (2) approval within the subsequent 12 months following the receipt of additional information and completion of key organizational steps. When deposit insurance applicants notify the FDIC that the i