- April 29, 2026
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Tampa Bay could soon see another new community bank if regulators approve a new application from a group of Florida banking veterans and investors. One twist to the startup: some key leaders in this bank are themselves former federal banking regulators.
Earlier this month, New South Bank filed its applications for a state charter with the Florida Office of Financial Regulation and the FDIC to establish a Tampa Bay area bank designed to serve small businesses.
The bank aims to serve clients statewide, with a full range of commercial and retail banking products and a strong emphasis on small business lending. In recent years, Florida has lost nearly 70% of its locally-headquartered banks, the group says in a release, reducing access to the “relationship-driven banking” New South Bank aims to provide.
While de novo banks have become increasingly rare in the past decade, New South Bank — if approved — would be the second such bank to launch in the Tampa Bay region in recent months. Last fall, Echelon Bank became the first de novo bank to launch in Tampa Bay in the last five years, FDIC records show, and one of only a handful of new community banks nationwide.
“We are building New South Bank to address a clear need in the market,” says Kennard Page, proposed Chairman and CEO, in the release. “Small businesses are looking for knowledgeable banking partners who can deliver consistently and provide speed, transparency, and responsiveness.”
Another rarity: New South Bank's founders include two former federal officials who previously worked for the federal Office of the Comptroller of the Currency.
Page is a former senior bank regulator who, like many of New South Bank’s founders, previously worked for HomeBanc as its primary regulator from the OCC. He brings more than 35 years experience supervising and examining national banks and previously was a director of multiple banking institutions. New South board member Charles Race also worked for the OCC, with a decades-long career as a bank examiner.
New South Bank’s President and CFO is Thomas Welsh, former controller and chief accounting officer for HomeBanc who most recently worked as executive vice president and CFO of CapTec USA, a Tampa-based financial services firm specializing in facilitating Small Business Administration (SBA) loans.
Similarly, plans for New South Bank are anchored in specialized expertise in SBA and USDA-guaranteed loan programs, the group says. The bank plans to establish an office in Tampa and support clients through a combination of direct banking relationships and a “centralized, technology-enabled model,” the release says.
“Our model is designed to deliver consistent results at scale, where defined processes and integrated systems allow us to move faster, maintain discipline, and provide a better experience for our clients,” Welsh says in the release.
