Nelson Mullins served as legal counsel to the organizers of Bank of St. George in connection with obtaining conditional regulatory approvals from the Federal Deposit Insurance Corporation (FDIC) and the Utah Department of Financial Institutions (UDFI) to establish a new state-chartered community bank in Utah.

The Nelson Mullins team advised the organizers throughout the regulatory application and approval process, helping navigate the formation of a de novo bank in a highly regulated environment. The team was led by Ben Barnhill, with additional support from Robbie Lindsay.

Upon opening, Bank of St. George will become the first de novo community bank chartered in Utah in nearly twenty years and the only financial institution headquartered in Washington County. The bank will serve small- and midsize-business clients, as well as consumers throughout Southern Utah, while also operating a loan production office in Salt Lake County focused on commercial lending opportunities in Northern Utah.

Initially capitalized with $20 million, Bank of St. George will be headquartered in downtown St. George and led by Chairman and principal shareholder Fred Lampropoulos and President and CEO Bruce Jensen, a veteran community banker with extensive experience forming and leading successful financial institutions.

To read the full announcement from Bank of St. George, click here.