Time to start a new bank?

The conventional wisdom holds that small- and medium-sized banks are in for some pain as the credit crunch ripples down to them. Construction loans, local commercial real estate loans, home equity loans and local business loans all will come under pressure as the economy sours. So what in the world are the founders of Westchester Bank thinking? Well, the founders of this start-up bank in Westchester County, NY are thinking like other bank start-ups these days: a downturn is the best time to get up and running. That's how entrepreneurs, in general, think. They may be onto something. Unlike other small banks, the new guys don't have the legacy baggage of their local competitors. They're starting fresh.   

For more:
- here's an article on Westchester Bank in the New York Times

Related Article:
No spate of outright bank failures expected