Approval required before acquisition of bank; application; considerations.
1. A bank holding company must receive the approval of the Commissioner before acquiring a bank.
2. The application for approval must include such information with respect to the financial condition, operations, management and intercompany relationships of the bank which is to be acquired and the bank holding company as the Commissioner may deem necessary or appropriate.
3. In considering the application for approval, the Commissioner shall consider:
(a) The financial condition of the bank holding company and any banks owned by it;
(b) The probable effect of the acquisition on:
(1) The bank holding company;
(2) Any banks owned by the bank holding company; and
(3) The bank which is to be acquired; and
(c) The effect of the acquisition upon competition in banking.
Last modified: February 26, 2006