BEDFORD — Strategist Bank, a proposed community bank to be headquartered in Bedford, has been granted conditional approval from the FDIC of its application for federal deposit insurance and has received conditional approval from the New Hampshire Banking Department of its application for a state bank charter.

These approvals are a major milestone toward opening as a bank based in southern New Hampshire, the first bank chartered in the state since 2022. Strategist will be a digital-first bank built for business owners, by business owners. It will focus on creating a personalized but streamlined customer experience that leverages financial technology solutions to set a new standard for 24/7 banking.

Founded by New Hampshire business owners and bankers, Strategist grew out of watching longtime local banks disappear into consolidation, taking local decision-making and personal relationships with it. The organizers set out to rebuild what was lost while leveraging modern technology.

“Few banks can tout both high-touch service and high-tech, something Strategist will bring to the local community,” said Michael Simchik, president & CEO of Strategist. “We’re here to solve business problems for Granite State business owners, not create them. Our digital-first model will let owners bank from the office, job site, home or car, 24/7, while still having a local team close by when they need additional support.”

Strategist is organizing as a business-focused bank serving businesses across southern New Hampshire. The bank envisions physical locations in the Bedford-Manchester area and on the Seacoast.

“Securing conditional FDIC and state approvals is a powerful validation of our vision to bring a sophisticated, locally-rooted financial partner to southern New Hampshire,” said James Prieto, chairman of the Board of Strategist. “Having spent the past 25-plus years in the mortgage and banking industry, I know firsthand that Granite State business owners need more than just a place to hold deposits, they need an agile, relationship-driven partner that understands local market dynamics. Strategist bridges the gap between major commercial capabilities and true community commitment, offering a sophisticated platform that is uniquely built to fuel the next chapter of regional economic growth.”

The conditional approvals follow Strategist’s application, which was submitted in March, after more than a year of development. Strategist expects to complete its remaining regulatory milestones, including a planned capital raise, over the coming months, with a target opening in the first quarter of 2027.