The organizing group of the new proposed Texas Leadership Bank of Royse City recently received preliminary approval of its bank charter application from the Texas Department of Banking.

The group received conditional approval from the Federal Deposit Insurance Corporation on its application for deposit insurance on May 2. Now that preliminary regulatory approval has been received, Texas Leadership Bank will begin to raise its initial capitalization of between $11-15 million through a common stock offering that will commence shortly, said Texas Leadership Bank Chief Executive Officer and President Stan Pinkham.

"We anticipate our initial shareholder group will number nearly 500 individuals, and we want our local community to be afforded the rare opportunity to possess ownership in their local community bank,” Pinkham said.

Texas Leadership Bank was founded upon a strong desire on the part of its organizing group to bring a locally owned and operated community bank to Royse City and the surrounding communities, Pinkham said.

Members of the organizing group include David Alford, Landon Alford, Bill Ellis, former Royse City mayor, city councilman and interim city manager Paul Fisk, his sons, Tony Fisk and Clif Fiske, Royse City Early Bird Rotary Club President Mike Gilbert, Jim Kangerga, Jim Johnson, Royse City Economic Development Corporation Executive Director Larry Lott, Rockwall County Commissioner David Magness, Milton McGee, Royse City Mayor Jim Mellody, Len Ruby, Pinkham, and Harvey Zimmermann.

The bank is scheduled to open in late 2006, possibly sometime this summer in a temporary facility. The bank will provide a full line of relationship-based banking services to local consumers, professionals, and businesses, Pinkham said.

The bank plans to immediately begin construction on its 5,900 square foot permanent banking facility scheduled to be completed early next year, Pinkham said. Both the temporary and permanent facilities will be located at the southwest corner of Interstate 30 and Farm-to-Market Road 548 in the Almo Plaza shopping center.

Doyle Cooper will be executive vice president and chief lending officer, and Carol Gardner will be senior vice president, cashier and chief financial officer.

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