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Since the financial crisis began in 2008, hundreds of banks have folded and federal regulators have become more cautious about the banks they approve to go into business. Lakeside Bank in Lake Charles, Louisiana the only truly new bank to open this year.
Since the financial crisis began in 2008, hundreds of banks have folded and federal regulators have become more cautious about the banks they approve to go into business. Hartie Spence is the President and CEO of Lakeside Bank in Lake Charles, La. He explains how Lakeside Bank became the only truly new bank to open this year.