Wash. Admin. Code § 208-548-050 - Information required from acquiring applicant
The applicant out-of-state bank holding company shall submit with the application each of the following items of information:
(a) A copy of its most recent audited
financial statement, its most recently prepared statement of assets and
liabilities, including footnotes and explanations, and its most recent income
and expense report.
(b) A statement
of its then existing business plan, both short-range and long-range, for
operation of the bank, trust company, national banking association or domestic
bank holding company to be acquired. Such statement shall include comments by
the acquiror as to how the proposed acquisition will meet the needs and
convenience of the people of the state of Washington.
(c) A list of any other notices pursuant to
the change in Bank Control Act (12 U.S.C. §
1817(j)) filed on its behalf
involving any other bank, trust company, national banking association or bank
holding company which is presently pending. Such list shall include the date
and place of filing each notice and the name and address of the institution to
which each notice pertains.
(d) A
statement as to what part, if any, of the funds to be used in making the
acquisition or merger are borrowed from sources other than its own
subsidiaries. With respect to any such funds, the applicant shall state: (1)
The amount and source of borrowed funds; (2) collateral pledged, if any; (3)
terms of the loan, including interest rates, amortization requirements,
guarantors, endorsers, and any other arrangements or agreements among the
parties to such loan transaction; (4) proposed source of funds for debt
service; (5) whether and to what extent the acquiring party intends to rely on
dividends, fees, etc. from the institution being acquired for debt servicing
requirements.
Notes
Statutory Authority: RCW 30.04.030 and 43.320.040. 00-17-141, recodified as § 208-548-050, filed 8/22/00, effective 9/22/00. Statutory Authority: RCW 30.04.230 as amended by 1983 c 157 § 9. 83-20-073 (Order 56), § 50-48-050, filed 10/3/83.
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