(1) One or more individual incorporators desiring to organize a bank shall
file with the commissioner of banking and financial institutions an application
to the state banking board for a certificate of authorization for a state
chartered bank. Said application shall
be signed by each of the incorporators, sworn to before an officer authorized
by the laws of this state to administer oaths and contain the following
information in addition to any other information as may be required pursuant to
part 2 and 3 of chapter 1, Title 32, MCA:
(a) the
names, addresses and principal occupations of the stockholders subscribing to
the new bank;
(b) the
proposed managing officer, if known, and directors/incorporators of the new
bank, with banking experience and personal history of each in compliance with
ARM 2.60.302;
(c) a
summary of the evidence applicant intends to present at the hearing to demonstrate
a persuasive showing of reasonable public necessity and demand for a new bank
at the proposed location as required by ARM 2.60.301;
(d) information demonstrating capital adequacy of the proposed new bank as
required by ARM 2.60.303;
(e) estimated operating statement and deposit volume at the end of each of
the first three years;
(f) proposed expenditures for bank premises, fixtures, furniture and
equipment;
(g) financial
statements of the incorporators/directors and each of those stockholders
controlling 10% or more of the stock in sufficient detail to substantiate their
net worth;
(h) statement from the incorporator as to how they intend to meet the
insurance requirement of ARM 2.60.304 (i.e., through membership in the federal
reserve system or through application to the FDIC as a non-member.)
(2) An
application fee of $3,000 shall be paid to the state of Montana at the time of
application and thereafter shall not be refundable in whole or in part.
(3) The
proposed articles of incorporation shall be submitted with the application for
a certificate of authorization.
(4) In the
event that an application is incomplete in any respect or if additional
information is required, the applicants will be so notified by the division of
banking and financial institutions and allowed up to 60 days in which to
perfect the application or provide additional information. An extension of this 60-day period may be
obtained from the division of banking and financial institutions by showing
good cause why it should be so extended.
(5) The
form for applying for a certificate of authorization (FD-2) may be obtained from
the Commissioner of Banking and Financial Institutions, Department of
Administration, 846 Front Street, P.O. Box 200546, Helena, MT 59620-0546.