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Acquisition of a Savings Bank and Loan Branch Office by a Bank/Trust Company

This allows a bank or trust company to acquire branches from a savings bank or savings and loan association.

AVERAGE PROCESSING TIME

120 Days

SEE DETAILS

	
		

Overview

Authorization that allows a bank or trust company to acquire branches from a savings bank or savings and loan association. The purpose is to ensure that the acquisition is in the public interest.

Requirements

1. Financial Information, Always Required
2. Information required by Supervisory Procedure CB 105, Always Required

How to Apply

1. See form below.

WHAT YOU NEED TO APPLY:

• Deposit and loan information
• Service information
• Management information
• Inducement information if any
• Reasons for application

Form(s)

Required Fees

TYPE REFUNDABLE AMOUNT COMMENTS
InvestigationNo$12500
InvestigationNo

Payment Options:

Personal Check; Postal Money Order; Certified Check
Make checks payable to the Superintendent of Financial Services.

Duration & Processing


Common Denial Reasons: Determination that approval would not be in the public interest; determination that the transaction would result in a significant lessening of competition; financial reasons.

Additional Info

1. A pre-application conference is recommended.

For additional information/Sponsor Agency:

Financial Services, Department of

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