2.59.2028    REVIEW PROCEDURE FOR APPLICATIONS FOR APPROVAL TO ESTABLISH A NEW BRANCH

(1)  The department shall process applications for new branches in the order in which they are received.  If an application is incomplete, the department shall notify the applicant by e-mail.  An application will not be considered to have been received until it is in a complete form.  An application is complete when all information required by the application form has been submitted and received.  The department may request additional information from an applicant even if the application is considered complete. 

(2)  Factors that will be considered when determining whether to approve an application to establish a new branch include, but are not limited to, the following:

(a)  the financial history and condition of the applicant;

(b)  the capital levels and capital structure of the applicant;

(c)  the quality, financial and banking experience, and depth of management of the applicant and the proposed branch;

(d)  the convenience and needs of the community to be served at the proposed location of the new branch as evidenced by a brief statement provided by the applicant;

(e)  earnings prospects of the applicant after establishing the new branch; and

(f)  any other factors the department considers that could adversely affect the safety and soundness of the applicant or the viability of the new branch.

(3)  The department shall issue its order approving or denying the application within 45 days after:

(a)  the date of the last publication of the notice of intent to establish a new branch; or

(b)  the date on which a complete application is received, whichever is later;

(4)  The 45-day deadline may be extended by the department when review of the complete application raises questions or concerns that require additional information from the applicant or any other entity or person.  Once the additional information is received by the department, the 45-day deadline may be extended by no further than 14 calendar days.

(5)  When the department approves an application to establish a new branch, it will provide written notification to the applicant and the appropriate federal regulatory agency(s).  The notification will include any conditions subject to the approval.  Summary notification of the decision will be mailed to all persons or entities that have submitted written comment to the application.

(6)  When the department denies an application to establish a new branch, it will provide written notification to the applicant, the appropriate federal regulator(s), and all persons or entities that have submitted written comment to the application.  The written notification to the applicant will include the reasons for the denial.

(7)  If an administrative hearing is requested under MAPA on the denial of an application, the time for the filing of a request for a hearing must occur within 14 calendar days following the department's decision.

History: 32-2-704, MCA; IMP, 32-2-704, 32-2-828, MCA; NEW, 2022 MAR p. 230, Eff. 2/12/22.