Gulf Capital to be area’s first new bank charter since 2009

Gulf Capital Bank is set to become the Houston area’s first new bank charter since 2009.

Most banks enter a market by acquiring smaller banks, but Gulf Capital Bank said Monday that it has received conditional approval from the Texas Department of Banking and the Federal Deposit Insurance Corp. to open a newly chartered bank, also known as a “de novo bank.”

The last de novo to open in the Houston area was Mint National Bank. It opened in Kingwood on April 1, 2009, said Dan Bass, managing director of investment banking for bank advisory firm Performance Trust Capital Partners.

“There have been so many smaller banks in Houston bought recently that it left a void for customer-focused community banking,” Bass said in an email. “Getting approval for a new bank is easier when you can show a need.”

Gulf Capital Bank expects to open later this year or early next year. It will be located on the first floor of One Riverway, which is at the corner of Woodway Drive and South Post Oak Lane. It will offer walk-in services, such as checking and cash management, online banking and payments with Zelle, mobile deposits, secured and unsecured commercial loans and consumer loans.

Gulf Capital Bank plans to target businesses with annual revenues up to $2 billion.

“We see great opportunity within the Houston market to provide commercial banking to middle market companies, their owners and employees, and their families and friends,” Ed Jones, chairman and CEO, said in a news release. “Gulf Capital Bank intends to differentiate itself by offering more personalized, customized products tailored to individual needs of Houston’s premier businesses.”