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Organizers of what was to be Connecticut’s first de novo in 12 years withdrew their application to launch the bank, according to a notice last month from the state’s Department of Banking.
“While we had significant investor interest, a stellar staff and location, the economic downturn presented enough concerns that we voluntarily withdrew our application,” Louis Garcia, who would have served as CEO of The New Canaan Bank, said in a statement, according to CT Insider.
Garcia and the other organizers applied to form the startup in December 2021, and received a temporary certificate of authority in July.
The New…
