New Loan and/or Deposit Production Office - Short Form
The linked notification form
should be used by your institution in requesting permission to establish a Loan
and/or Deposit Production Office.
The filing of the Uniform Interstate
Application/Notice will generally be all that is required by OFI for the
establishment of a LPO/DPO. Effective June 20, 1997, the filing fee to establish an
LPO/DPO was eliminated.
Please refer to the linked policy to determine
if your institution is eligible to utilize this notification. If you do not meet
these criteria, please refer to the
"standard/long" LPO/DPO application form.
Also linked is a copy of the LPO/DPO Rule, effective
October 20, 2020, which details the regulatory filing requirements associated
with the establishment and operation of a LPO/DPO. Please review this Rule to ensure
that the activities you plan to conduct through this facility are allowable.
Please comply with the following instructions to ensure a timely response from this Office:
This Office will require the original of the completed notification. A duplicate copy should be retained in your files.
If any or all of the proposed premises is to be leased, submit a copy of the proposed lease, together with a statement from a Certified Public Accountant stating whether the lease is to be considered an operating lease or a capitalized lease according to the provisions of Accounting Standards Codification # 840 (formerly Statement of Financial Accounting Standards #13) - Accounting For Leases.
Any purchase of real estate for future expansion must be in compliance with this Office's Investment in Real Estate for Business Purposes Policy, revised March 14, 2005, a copy of which is linked to this location for your convenience.
Any involvement by a Director, Officer, or Shareholder who directly or indirectly controls five percent or more of any class of voting stock should be disclosed in this application. Involvement includes, but is not limited to, the sale or lease of property or equipment, legal fees, accounting fees, construction contracts, or consulting contracts.
Include a summary of the cost estimates of any amounts which will be included in the institution's premises and fixed assets classification. This dollar amount should include all land, building, and FF&E associated with the proposed facility.
If your financial institution is nationally chartered,
or if it is an out-of-state, state-chartered entity, please refer to the linked
LPO/DPO rule which will detail your filing requirements.
Any questions you may have concerning the application
should be directed to Deputy Chief Examiner Tim Robichaux at (225) 922-0878.
Uniform Interstate Application/Notice Policy
Uniform Interstate Application/Notice Form
Loan and/or Deposit Production Office Rule
DI-01-2005 Investment in Real Estate for Business Purposes