PURPOSE: In 1983, the general assembly
amended the Missouri bank facility law, section
362.107, RSMo, to permit two or
more banks located in the same county to merge and retain all branching rights
possessed by the respective banks prior to the merger. The numerous mergers
which have occurred since the change have heightened the questions which have
been raised concerning the public's perception of banking offices. Some concern
has been expressed that depositors may exceed the limit of Federal Deposit
Insurance Corporation insurance coverage by depositing excess amounts in two
offices of the same bank which they perceive to be different banks. These
questions arise because of the understandable wish of banks to identify with
the community in which the branch is located by naming the branch after that
community or retaining the name of the merged bank. This rule sets standards
for accurate marketing policies concerning branches of banks and it not
intended to curtail creative marketing by banks.
(1) A bank shall avoid the use of any
marketing tools including, but not limited to, signs, print media or broadcast
media which foster a belief that any branch is a separately chartered or
organized bank.
(2) All official
bank documents, including, but not limited to, checks, cashier's checks, loan
applications and certificates of deposit, must bear the name of the bank,
reference to any branch name on an official document may not be more prominent
than the name of the bank.
