New South Bank Receives Regulatory Approvals and Advances Toward Q1 2027 Opening
Florida-Focused Bank Moves Into Final Stage of Organization
For Immediate Release
TAMPA, FL — September 29, 2026
New South Bank (in organization) announced today that it has received the regulatory approvals necessary to move forward with the organization and opening of the new Florida state-chartered bank. The regulatory approvals include customary opening conditions. Headquartered in Tampa and built to serve businesses and their owners throughout Florida, the Bank remains on target to begin operations in the first quarter of 2027.
Over the past two decades, Florida has experienced substantial consolidation among Florida-headquartered banks. As that landscape has changed, many business owners have found themselves banking with increasingly large national institutions where decisions are made through more centralized processes and personal access is not a priority. New South Bank is being built around a different model.
The Bank is combining experienced banking leadership and direct access to decision-makers with a modern operating platform designed from the beginning around how businesses bank today. While headquartered in Tampa, New South Bank plans to lend to businesses throughout Florida.
“Receiving our regulatory approvals is a major milestone,” said Kennard Page, Chairman and Chief Executive Officer of New South Bank. “We saw an opportunity to build a business-focused bank around relationships, responsiveness, and direct access to decision-makers, while taking advantage of capabilities that simply were not available when most banks were built.”
New South Bank intends to focus on commercial banking, small business lending, SBA lending, business deposits, treasury management, and related personal banking services.
The Bank also has the opportunity to design a new financial institution from the ground up rather than modernize one built around decades of legacy processes. New South Bank has been developing proprietary technology and operating capabilities designed to improve how it identifies prospective customers, reaches them, manages relationships, and operates internally.
“We are building the Bank around the way we believe banking should work today,” said Thomas Welsh, President of New South Bank. “Technology allows us to simplify processes, improve access to information, and give our bankers more time to focus on customers and decisions. The result should be a bank that is easier to do business with and better positioned to grow efficiently.”
Preparing for Opening
With regulatory approvals received, New South Bank is focused on completing its capital formation, continuing to build out the organization, implementing its banking systems, and preparing for its planned first-quarter 2027 opening. The Bank is conducting an offering of its common stock pursuant to its Offering Circular as part of that capital formation process.
“What started as a vision for a new kind of Florida business bank is becoming a reality,” Welsh said. “We are excited about the opportunity ahead and the institution we are building.” Additional information about New South Bank is available at www.newsouthbank.com.
About New South Bank
New South Bank is a Florida state-chartered bank in organization headquartered in Tampa, Florida. The Bank is being built to serve businesses and their owners throughout Florida through experienced banking leadership, accessible decision-making, and modern technology.
Important Information Regarding the Offering
This announcement is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to purchase securities. Any offer or sale of New South Bank securities is made only pursuant to the applicable Offering Circular and subscription materials, which contain important information regarding the proposed bank, the offering, and the risks associated with an investment.