Erebor Bank (ERB) Secures U.S. National Banking Charter

Erebor Bank (ERB), backed by Palmer Luckey, received a U.S. national banking charter from the Office of the Comptroller of the Currency on February 6, 2026, becoming the first institution to do so during the second term of the Trump administration. The OCC-issued charter enables nationwide operations, following conditional approval in October 2025. The bank plans to focus on AI, cryptocurrency, defense, and manufacturing sectors, as well as individuals tied to these industries, aiming to fill the capital gap left by the collapse of Silicon Valley Bank in 2023. Investors include Joe Lonsdale of Palantir and Peter Thiel.