How do they start? Is it a group of rich men who put their money out on the line or how does that work?

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Answers:    Banks are typically started by a group of investors that pool their money and create what is call "capital". You can think of wealth as a reserve.that isn't loaned out. The approval process to start a bank is WAY too long to explain here. BUT, once they hold approval and a charter...etc, they make their money by making loans. When you or I budge and deposit money at a bank, that money is consequently loaned (at a higher rate)to other populace and business (minus a reserve requirement).
This is called interest income. Then, near is non-interest income, which is from fees generated by checking accounts and loan fees. this is undoubtedly the 30 second version of how it works...but I've be in bank for 10 years and still don't know all of it!
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