Why are investors founding hundreds of new banks in the United States contrary to the tidal wave of bank mergers rationalized by economies of scale and globalization? This book studies the profile and motivation of the angel investors who found the new banks. Angel investors are wealthy individuals who provide capital for start-up companies. Angel investing is an important source of new venture funding, a topic at the intersection of capital markets research and entrepreneurship. Because this study examines bank angel investors, related banking literature is examined including industry structure, economies of scale and American attitudes favoring local control. The study found that bank angel investors are successful entrepreneurs who are motivated not only by financial return, but also by non-financial benefits such as helping create a new venture and meeting community needs. The researcher’s interpretation of the data finds that bank angel investors are similar to general angel investors in most characteristics; however, expected returns and perceptions of risk for bank investments were lower than typical angel investments.