| (a) General. The banking commissioner may issue an
interim state bank charter solely for the purpose of facilitating
the acquisition, reorganization, or merger of a pre-existing bank,
if the resulting bank will engage in the business of banking in substantially
the same markets. The applicant must submit the application for an
interim bank charter on a form prepared and prescribed by the banking
commissioner and tender the required filing fee pursuant to §15.2
of this title (relating to Filing and Investigation Fees). The applicant
must describe in detail the entire transaction in which the interim
bank charter is proposed to be used and identify the resulting bank
after completion of the transaction.
(b) Public Notice. Upon submission of application,
the applicant shall publish notice as required by §15.5 of this
title (relating to Public Notice) and in the community where the resulting
bank is to be located.
(c) Public Comment. No hearing will be held regarding
the issuance of an interim bank charter unless the banking commissioner,
in the exercise of discretion, sets and convenes a hearing. Persons
or entities submitting comments will not be entitled to further notice
of or participation in the interim bank charter application proceedings.
(d) Adequacy of Capital. The banking commissioner shall
determine the adequacy of capital for a proposed interim bank charter,
except that an interim bank may not be chartered with a capital less
than $5,000.
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