New Hampshire Bank Becomes only the fourth new bank to open in the country since 2010 and the sole one to do so this year. Prior to 2008, on average 100 banks received charters every year.

The Boston Globe reports:

Something unusual happened in this quiet town Friday that warranted the appearance of the governor, both US senators, and a cadre of business leaders: a new bank opened.

The institution, Primary Bank, is small enough by most standards to go unnoticed. It only has one branch and under $30 million in assets, less than a half percent of total New Hampshire bank assets. And the founders, more comfortable in khakis than suits, aren’t out to revolutionize the industry with the latest mobile phone application.

But in the aftermath of the Great Recession, the near collapse of the banking system, and the financial reforms that followed, simply opening a brick-and-mortar, community bank is enough to make national headlines and draw the attention of politicians and even campaigning GOP presidential contenders.

Primary Bank is only the fourth new bank to open in the country since 2010 and the sole one to do so this year. Prior to 2008, on average 100 banks received charters every year.

What better proof than this that Dodd-Frank was passed to restrain trade by enacting regulations limiting entry into banking? As economist Murray Rothbard has stated, the progressive movement has always wanted to restrain trade. We assure you the banking cartel isn't interested in Wal-Mart getting into the banking industry.