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Florida's Regent Bancorp Inc. is looking to expand into South Carolina by creating a separately chartered de novo operating subsidiary in Greenville.
The de novo will operate under the same name as its Florida unit, Regent Bank.
Regent Bancorp CEO Cyril Spiro told SNL that the South Carolina Regent Bank, which has applied for a federal savings bank charter through the OTS, will open with between $6.0 million and $7.5 million. It will target small- to medium-sized businesses and professionals, as well as offering residential mortgage products, Spiro said.
Despite it "probably not [being] the ideal time to be out offering stock in a...