Section 3.02.215. Application for a branch office or change of location.

	(a)  A bank shall apply to the department for a certificate of authority to operate a branch office or to change the location of an existing branch or the home office.  
	(b)  The following information must accompany a bank's application for a new branch office or a change of location of an existing branch office or the home office:  
		(1) if the bank is insured by the FDIC, a completed FDIC branch or change of location application which may be obtained directly from the FDIC;  
		(2) a check or money order for $1000 made payable to the State of Alaska in partial payment of the investigation expenses incurred by the department under AS 06.01.010;  
		(3) a statement as to whether the proposed office will operate on owned or leased property and, if leased, a copy of all proposed lease documents which must contain a bankruptcy clause;  
		(4) a statement whether the bank plans to finance any improvements to the property and, if the property is leased, whether the proposed lessor is or will be a borrowing customer of the bank;  
		(5) the amount of fire and liability insurance coverage to be carried for the proposed office location and equipment, who will pay the premium for the insurance coverage, and, if paid by the bank, the amount of payments and the annual premium for the coverage at the time of the application;  
		(6) the total investment in the bank premises and equipment to be reflected on the books of the bank for the proposed office;  
		(7) the itemized book value of the bank's present investment in land, buildings, leasehold improvements, furniture, fixtures, and equipment, and investment in other assets indirectly representing bank premises, and any depreciation reflected on the books of the bank;  
		(8) a listing of the income, expenses, loan volume, time deposits, savings deposits, and demand deposits, on a calendar year basis for each branch office, including the principal office of the bank opened within three years of the date of the application and the date of opening of each branch office listed;  
		(9) a daily statement and statement of income and expenses for the bank current as of a date within 30 days preceding the application, provided there has been no material change in the bank's condition since the statements were prepared;  
		(10) the amount and type of the bank's fidelity bond in force and any excess coverage bond;  
		(11) a list of the banking services to be offered by the proposed office;  
		(12) the names and addresses of potential large deposit customers of the proposed office;  
		(13) a three-year projection of the bank's capital accounts;  
		(14) the name and resume of the proposed branch manager or, if none, a resume of the individual who will be directly responsible for the management of the proposed office;  
		(15) an economic analysis which supports the need in the community for and feasibility of the proposed office;  
		(16) if an international bank, the information required under AS 06.05.555; and  
		(17) additional information requested by the department.  
	(c)  No bank may conduct a banking business through a branch office without a certificate of authority issued by the department. The certificate of authority must be prominently and publicly displayed in that branch office.  
	(d)  Upon written request from a bank and after reviewing the past reports of examination of the bank and finding that the bank is in compliance with the department's recommendations in those reports, the department will, in its discretion, waive any of the application requirements set out in (b)(1) and (b)(3) - (b)(15) of this section.  

Authorities

06.05.005;06.05.399;06.05.555

Notes

Reference

3 AAC 02.217
3 AAC 06.220

Authority

AS 06.05.005(a) AS 06.05.399 AS 06.05.555

History

Eff. 12/13/70, Register 36; am 4/6/79, Register 70; am 12/31/80, Register 76; am 1/10/94, Register 129