Filing Other Applications by Member Banks and Bank Holding Companies

Corporations wishing to acquire shares in a bank, or existing bank holding companies wishing to acquire shares in one or more additional banks or nonbanking entities, are required to file with the appropriate Federal Reserve Bank. Additionally, those individuals desiring to increase their ownership in a State Member Bank or bank holding company beyond certainthresholds are required to obtain prior approval. Potential filers in the Eleventh District can refer to the Board of Governors of the Federal Reserve System: Application Process for further information, including forms and instructions outlining the general requirements that must be satisfied before a filing can be processed.

The Reserve Bank will generally review the application for sufficiency and informational adequacy within seven calendar days of receipt. The Reserve Bank will then accept the filing for processing or return it due to insufficient information. Once the application is accepted, it can be processed by the Reserve Bank under delegated authority or by the Board of Governors. Most domestic filings are processed under the faster delegated authority track, which is generally 30 calendar days. Cases requiring the attention of the Board of Governors usually involve more complex issues and therefore require a processing period of approximately 60 calendar days.

It is anticipated that many bank holding companies will qualify for expedited processing enabled by changes to the Federal Reserve Board's Regulation Y. To qualify for the faster processing track, certain financial and managerial criteria must be met. Bank holding companies are encouraged to contact Karen Smith, Director–Mergers & Acquisitions at (214) 922-6786 to discuss the expedited filing process.