Is it that difficult for individuals to get approval? There are tons of small 1-3 branch banks in the US owned by individuals. I would expect it's on par with getting a liquor license or similar, background check and assets check.
Years ago I worked for a bank that was > 75 years old and had recently been bought by a guy who had immigrated to go to college and then in the next 20+ years done very well in construction. As far as I know there was more uproar over him changing the name of the bank than actually buying it.
Years ago I worked for a bank that was > 75 years old and had recently been bought by a guy who had immigrated to go to college and then in the next 20+ years done very well in construction. As far as I know there was more uproar over him changing the name of the bank than actually buying it.