(1) The Division of Banking and Financial Institutions invoices banks for semiannual assessments every June and December. The assessment is based on each bank's total assets provided in its previous March and September call reports.

(2) The fee is calculated based on the total assets of the bank using the table below. The fee is then multiplied by the factor of 1.50 and rounded to the next highest dollar to determine the assessment due for the semiannual period.

 

Total Assets ($ Million)	Base Fee ($)	Plus Rate per Dollar	Over ($ Million)
0-1	0	0.00085	0
1-10	850	0.000105	1
10-50	1,795	0.000085	10
50-100	5,195	0.00005	50
over 100	7,695	0.00003	100

 

Example: Bank A reports total assets of $8.2 million. Bank A's total assessment is $2409, based on a base fee of $850 plus $756 ($7.2 million x 0.000105 = $1606) x 1.5.

(3) The assessment is due 30 days after each invoice date, or July 31 and January 31, whichever is later.

(4) No fee will be charged for the June 30, 2016, semiannual assessment. This section sunsets August 31, 2016.