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New NYC banks open at record rate

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Seven New York-based banks have opened in the past two years, and 10 other new banks are currently being planned. The rate is a record and is being attributed to the availability of bank executives following recent mergers and current bullish economic forecasts. Most of the banks are targeting niche markets, such as ethnic groups in specific communities. One of the new ventures, LibertyPointe Bank, is backed by real estate developer Shaya Boymelgreen. more [Crain’s]

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