The bank, trust company, national banking association, or
domestic bank holding company to be acquired shall include with the application
each of the following items of information:
(a) A statement verifying that the bank,
trust company, national banking association or domestic bank holding company to
be acquired is in such a liquidity or financial condition as to be in danger of
closing, failing or insolvency, setting forth with specificity the
circumstances upon which such conclusion is based.
(b) A statement of all courses of action
actively considered as an alternative to the proposed merger or acquisition; a
statement of why each such course of action or combination of more than one of
them was not taken; a statement as to why assistance available from the Federal
Reserve Board, the Federal Deposit Insurance Corporation, or other governmental
agency either alone or in combination with other actions is not sufficient to
alleviate the liquidity or financial situation so as to avoid the danger of
closing, failing or insolvency; and if known, the course or courses of action
which will be taken in the event the merger or acquisition is not
consummated.
(c) Financial records
including: (1) Copies of reports of condition required to be filed with the
appropriate regulatory authorities and financial statements showing its assets
and liabilities as of the end of each of the six most recent quarterly periods
of operation; (2) copies of income and expense statements for each of the six
most recent quarterly periods of operation; and (3) a copy of the most recent
independent audit report.
Information submitted in response to this subsection shall be
consolidated figures for the entire organization. If individual figures for
operating subsidiaries are available, they shall also be submitted.
(d) A statement setting forth
which, if any, state banks, trust companies, or national banking associations
doing business in this state, or domestic bank holding companies have been
solicited to make an offer for acquisition or merger. If no such solicitations
have been made, the application shall include an explanation of the decision
not to make such solicitations. The application shall include a summary of the
terms of any bona fide offer for merger or acquisition received from any
domestic bank, trust company, national banking association or bank holding
company, and shall further state whether any domestic offerors have been given
the opportunity to match the terms of the proposed acquisition by or merger
with the out-of-state bank holding company.