Woman-owned de novo Agility Bank gains regulatory green light in Texas
Texas-based de novo Agility Bank has received conditional approval from regulators, with a full launch expected in Q2 2021.
The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) gave Agility Bank the green light.
CEO Lauren Sparks owns and operates the bank, which aims to target small and medium-sized enterprises.
Sparks is owner and CEO of risk management technology firm Third Party Resources. She also spent 11 years at The Bankers Advantage Group.
Agility Bank submitted its bank charter application in March, and expects to undergo a full launch in the beginning of 2021.
Sparks tells the Houston Business Journal that the bank is engaging with an unnamed investment bank to help support its fundraising. The bank aims to bring in $30 million.
The bank has plans to grow its employee count to 15 by launch. It currently lists seven people on its LinkedIn page.
The bank’s chief technology officer and chief information security officer is Jay Pedraza. Pedraza has previously worked at Preferred Bank Houston, Patriot Bank, and the Standford Financial Group.
Chief financial officer Terry Harrison, and Tina Veserra, chief operating officer, worked with Sparks at Third Party Resources.
“Houston is on the cusp of a business evolution,” writes Sparks on the company website.
“What better time to launch a commercial community bank that is majority owned and led by women who are in tune with the present and highly motivated to create a better future for all.”