Own the institution earning the spread.

Accredited investors only, verified under SEC Rule 506(c). Verification runs through Northwest Capital via a secure link, at no cost to you; Physicians First Bancorp pays all verification expenses.

Not yet. The Series A funds the acquisition of a target community bank; funds sit in escrow at West Bank and are not used for company operations before regulatory milestones are met.

The minimum investment is $15,000, with a maximum of $500,000.

Sign the NDA on this site. The offering documents are sent automatically once your NDA is executed.

Escrowed funds are held in a designated trust account at West Bank, are not used for operations, and remain withdrawable at the final decision point: you can proceed with your full investment or withdraw your escrowed capital.

Quarterly shareholder letters are published in the documents section of this page, and material updates appear in News.

We're buying a local charter that is already profitable, so we don't want to disrupt that business by removing the current CEO. Once we own the bank, we'll decide whether they have the skill set and capacity to run the existing bank while also growing the physician banking side. If necessary, we'll hire a second CEO to lead the physicians' bank.

As noted above, we don't want to disrupt the current profitable business, and it's also a matter of fiduciary responsibility. We've run a search and spoken with several strong candidates, some of whom we're still in contact with, and we continue to receive qualified resumes. Attracting the caliber of CEO we want, and having them leave their current job, would require a two-year guarantee of salary and benefits, roughly $800,000, or about 4% ownership in stock, funded from Tier 1 capital. Properly lent out at today's interest rates, that capital would return an estimated $3,230,000 in profits to the new institution.

Tier 1 capital has two core pieces: money owners and shareholders put into the bank (common equity/stock), and profits the bank keeps instead of paying out as dividends (retained earnings). Retained earnings come from services like loans, checking, ATMs, credit cards, lockboxes, and wealth management, with loans generally the biggest revenue driver. Banks keep a portion of deposits, typically 10-20%, as a safety buffer for withdrawals and unexpected needs, and lend out the rest. A bank with $100 million in deposits might lend about $80 million if conservative, or closer to $90 million if more aggressive. Lending 80% of $100 million in deposits requires the bank to hold $8 million in Tier 1 capital.

No, that would be an unreasonable request. Think of your ASC: the day it opened, you didn't move 100% of your surgeries away from the hospital. The expectation is that you'll move the deposits and business that make sense, and just like your ASC, we'll earn the rest. The better our service and outcomes, the more of your business you'll want to move to our bank.

More and more banking happens through software rather than in person. Branches represent 40-60% of a typical bank's overhead, but like hospitals and physician practices, banks have so much invested in aging infrastructure and legacy software that change is constrained by cost and resources. Introducing modern software to a single bank costs far less than building and staffing branches across the country. Given today's technology, and that most medical practices already handle their transactions electronically, we can provide a concierge-level banking experience at a fraction of the cost of a traditional bank.

Yes. Unlike many of today's fintech or neobank solutions, we want the regulatory protections a traditional, FDIC-insured bank provides for our depositors and our investors.