Effective June 20, 1997, OFI adopted the Uniform Interstate Application/Notice. For those institutions that qualify, the filing of this notification will generally be all that is required by OFI and the FDIC for the establishment of a branch office. Please refer to the policy to determine if your institution is eligible. If you do not meet these criteria, please contact OFI and the FDIC for the “standard” application form.
For OFI purposes, the institution must publish a one-time notice in a newspaper of general circulation in the community in which the branch office is to be located. The notice must be published within 30 days prior to the date of receipt of the application by OFI and the FDIC. Proof of publication, in the form of an original publisher’s affidavit or the original newspaper clipping, must be submitted with the application. A sample publication notice is linked to this location. The structure of this notice will meet the notification requirements of both agencies.
For FDIC purposes, the institution must publish a one-time notice in a newspaper in general circulation in the community or communities in which the main office and the proposed branch are located. The applicant must provide the FDIC with a copy of the notice published in the newspaper, the name and address of the newspaper, and the date of the publication. The applicant should submit the application to the FDIC on the date the notice is published or within five days after the date of the publication.
The following provisions will need to be complied with in order to ensure the timely processing of your application:
- This Office and the FDIC will each require an original, completed application. A copy should be retained in the institution’s files.
- A Uniform Interstate Application/Notice, when filed with OFI, must be accompanied by an official check in the amount of “$250” [non-refundable]. Please make the check payable to the “Office of Financial Institutions.”
- If temporary quarters are to be utilized and the address is different than the proposed, permanent quarters, the publication must include both locations. Please note that temporary quarters are only allowed for a period of up to one year and must be located in close proximity to the permanent facility. If the institution expects to operate out of the temporary quarters for a period of over one year, these facilities will be considered to be the permanent location and a relocation notification will need to be filed at that later date.
- If the institution is to lease any or all of the proposed premises, 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.
- The institution should ensure that any purchase of real estate for future expansion is in compliance with this OFI’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.
- Include a summary of the cost estimates of any amounts which will 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 you are a Fed member bank, please contact your Federal Reserve Bank for instructions on their filing and publication requirements. The number for the Federal Reserve Bank of Dallas is (214) 922-6000. The Federal Reserve Bank of Atlanta’s number is (404) 498-8500.
Please be aware that the institution is required under state and federal statutes to adopt a Branch Closing Policy. Refer to LSA-R.S. 6:507 and 853 (pdf), and Section 42 of the Federal Deposit Insurance Act for specific information on these requirements.
Finally, management will need to determine if the proposed branch location is included in a metropolitan statistical area or metropolitan division (MSA/MD) if your institution currently does not submit a Home Mortgage Disclosure Act (HMDA) report to the Federal Reserve Board. Please visit the HMDA Home Page at http://www.ffiec.gov/hmda/default.htm to determine if your institution meets the current HMDA reporting criteria.
Should you have any questions concerning OFI requirements, please contact Deputy Chief Examiner Tim Robichaux at (225) 922-0878 or email@example.com or Administrative Specialist Pam Skelton at (225) 925-4661 or firstname.lastname@example.org.
Any questions regarding FDIC requirements should be directed to your assigned FDIC Relationship Manager or contact the FDIC Regional Office at (800) 568-9161 or (214) 754-0098.