A financial services team from Nelson Mullins is representing the organizers of Bank of St. George in Utah (in organization), which will be the first new community bank to open in Utah in more than a decade. Ben Barnhill, Neil Grayson, Ricky Davis and Kathy Solley are leading the project for Nelson Mullins, assisting the bank organizers from the initial planning stages through the filing of the regulatory applications and the preparation of an offering circular to raise capital for the new bank.

Bank of St. George will serve businesses and consumers in Washington County, Utah, and will be based in "one of the fastest growing metro areas in the nation," according to Bruce Jensen, who will serve as the bank's chief executive officer, and P. West Martin, who will serve as the chief credit officer. Both individuals were formerly executive officers at Town & Country Bank, which was also headquartered in St. George, Utah.  The bank is planning to raise $18 to $22 million in its initial public offering.

Bank of St. George is Nelson Mullins’ fifth de novo bank application filed in the past three years, following Beacon Community Bank of Charleston, South Carolina; Spirit Community Bank (in organization) in Statesville, N.C.; Community Bank of the Carolinas (in organization) in Winston-Salem, N.C.; and VisionBank (in organization) in McLean, Va. The firm is also representing a number of other organizer groups that are exploring de novo bank charters and other alternative bank acquisition strategies.