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.