Get the free APPLICATION FOR AUTHORITY OF AN OUT-OF-STATE BANK HOLDING COMPANY TO ACQUIRE A DELAW...

5 DE Admin* Code 800 Banking APPLICATION FOR AUTHORITY OF AN OUT-OF-STATE BANK HOLDING COMPANY TO ACQUIRE A DELAWARE BANK OR BANK HOLDING COMPANY I. Certification The undersigned Name and Title Name of Bank Holding Company having first been duly authorized does hereby make application on behalf of to acquire Name of Delaware Bank or Bank Holding Company the Delaware Interstate Banking Act and all rules and regulations issued in connection therewith that all of the information provided as...

How to fill out application for authority of

How to fill out APPLICATION FOR AUTHORITY OF AN OUT-OF-STATE BANK HOLDING COMPANY TO ACQUIRE A DELAWARE BANK OR BANK HOLDING COMPANY

1. Obtain the APPLICATION FOR AUTHORITY form from the Delaware Department of Banking website or office.
2. Fill in the basic information of the out-of-state bank holding company, including name, address, and contact details.
3. Provide detailed financial information for the out-of-state bank holding company, such as balance sheets and income statements.
4. Include information about the Delaware bank or bank holding company to be acquired, including its name and location.
5. Submit a business plan outlining the strategic rationale for the acquisition.
6. Attach all required documents, including legal governing documents and any necessary consents from relevant authorities.
7. Review the completed application for accuracy and completeness.
8. Submit the application along with the required filing fee to the Delaware Department of Banking.

Who needs APPLICATION FOR AUTHORITY OF AN OUT-OF-STATE BANK HOLDING COMPANY TO ACQUIRE A DELAWARE BANK OR BANK HOLDING COMPANY?

1. Out-of-state bank holding companies seeking to acquire a Delaware bank or bank holding company must complete this application.
2. Financial institutions looking to expand their operations into Delaware through acquisition.
3. Investors or entities aiming to establish a presence in the Delaware banking market.

People Also Ask about

Why do banks incorporate in Delaware?

Companies incorporate in Delaware because of its corporate-friendly environment, which offers numerous benefits in terms of convenience, tax liability and legal protection for businesses.

What agency holds banks accountable?

The OCC charters, regulates, and supervises all national banks and federal savings associations as well as federal branches and agencies of foreign banks. The OCC is an independent bureau of the U.S. Department of the Treasury.

Who regulates savings and loan holding companies?

Finance Company The Federal Reserve Board is responsible for supervising the financial condition and activities of financial holding companies.

Which legislation permits bank holding companies to acquire banks in other states?

The Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (PL 103-328) lets bank holding companies acquire banks in any state, regardless of state law, starting September 29, 1995.

Who regulates bank holding companies?

The Office of the State Bank Commissioner is responsible for regulating and examining State-chartered banks and trust companies and licensed financial services businesses, including mortgage loan brokers, licensed lenders, mortgage loan originators, check sellers, money transmitters, check cashers, motor vehicle sales

Who examines bank holding companies?

The Federal Reserve System. The Federal Reserve has broad enforcement powers, including authority to issue cease-and-desist orders, remove bank and holding company officers and other affiliated parties, levy fines, revoke membership, and order divestiture or termination of financial holding company activities.

What is the 5% rule in the Bank Holding Company Act?

Section 4(c)(6) permits bank holding companies to make investments in shares of voting securities of a company that, in the aggregate, represent 5 percent or less of the outstanding shares of any class of voting securities of the company, subject to the provisions of section 225.137 of Regulation Y.

For pdfFiller’s FAQs

What is APPLICATION FOR AUTHORITY OF AN OUT-OF-STATE BANK HOLDING COMPANY TO ACQUIRE A DELAWARE BANK OR BANK HOLDING COMPANY?

It is a formal request submitted by an out-of-state bank holding company seeking permission from the Delaware regulatory authorities to acquire a bank or bank holding company located in Delaware.

Who is required to file APPLICATION FOR AUTHORITY OF AN OUT-OF-STATE BANK HOLDING COMPANY TO ACQUIRE A DELAWARE BANK OR BANK HOLDING COMPANY?

Any out-of-state bank holding company that intends to acquire a Delaware bank or bank holding company must file this application.

How to fill out APPLICATION FOR AUTHORITY OF AN OUT-OF-STATE BANK HOLDING COMPANY TO ACQUIRE A DELAWARE BANK OR BANK HOLDING COMPANY?

The application should be completed according to the specific instructions provided by the Delaware Division of Banks, including the necessary documentation and details about the proposed acquisition.

What is the purpose of APPLICATION FOR AUTHORITY OF AN OUT-OF-STATE BANK HOLDING COMPANY TO ACQUIRE A DELAWARE BANK OR BANK HOLDING COMPANY?

The purpose is to ensure that the acquisition meets regulatory standards and does not adversely affect competition, the safety and soundness of the banking system, or the interests of depositors.

What information must be reported on APPLICATION FOR AUTHORITY OF AN OUT-OF-STATE BANK HOLDING COMPANY TO ACQUIRE A DELAWARE BANK OR BANK HOLDING COMPANY?

The application must report comprehensive information about the acquirer, the target institution, the terms of the acquisition, financial statements, and any potential impacts on the local market.