(a)  Regional bank holding companies may acquire North Carolina banks or bank holding companies upon written approval of the Commissioner of Banks pursuant to G.S. 53-211.

(b)  Application.  An application to acquire a North Carolina bank or bank holding company must be submitted in writing on a form provided by the Office of the Commissioner of Banks.  The application must be filed with:

Office of the Commissioner of Banks

4309 Mail Service Center

Raleigh, North Carolina 27699-4309.

(c)  Application fees.  The application fees required by statute for acquisition by a regional bank holding company in North Carolina under the North Carolina Regional Reciprocal Banking Act shall be tendered upon application.

(d)  Notice of filing/written comments.  Within 30 days of acceptance of a completed application for filing, the Commissioner of Banks shall publish a notice of the filing of the application as set forth in G.S. 53‑211(d).  Within 14 days of the published notice, any interested person may submit written comments and information concerning the application to the Commissioner of Banks.  All written comments received during the comment period shall become a part of the official record compiled with respect to the application.  The Commissioner of Banks may extend the comment period if, on the basis of information already available, or upon the nature or volume of initial public comment, he determines that the public need or the intent of the statute is best served by an extension of such comment period.

(e)  Examination by Commissioner.  Upon receipt of a completed application, the Commissioner of Banks shall conduct an examination into all the facts connected with the proposed acquisition in accordance with Articles 17 and 18 of Chapter 53.

(f)  Action by Commissioner.  No final decision may be made by the Commissioner of Banks until the comment period has expired.  The final decision of the Commissioner of Banks on an application shall be in writing and include findings of fact and conclusions of law.

(g)  Notification of Commissioner's action.  The applicant and all persons who have made written requests for such notice shall be given notice of the Commissioner of Banks' final decision on each application.


History Note:        Authority G.S. 53‑211; 53‑214(b);

Eff. May 1, 1992;

Amended Eff. September 1, 2006; April 1, 1999.