COVID-19 Pandemic Derails De Novo Banks
James Stevens, a partner in Troutman Pepper's Financial Services Practice Group, was quoted in a July 13 S&P Market Intelligence article titled, "COVID-19 Pandemic Derails De Novo Banks ."
One of the biggest changes for de novo banks' business plans has been the drastically lower interest rate environment, James Stevens, a partner with Troutman Pepper, said in an interview.
"If you are putting together a business plan today for a de novo bank, you have to show a different rate environment than you would've shown if you prepared the business plan in February," he said. "Your business plan should be adjusted accordingly."