49 Neb. Admin. Code, ch. 3, § 006 - APPLICATIONS TO ESTABLISH BRANCH OR AUXILIARY OFFICES

006.01 An applicant to establish a branch of a bank must submit to the Department:

006.01A A written business plan which contains:

006.01A1 A description of the activities to be conducted and the services provided at the proposed branch;

006.01A2 If the description contained in Section 006.01Al of this Rule, differs, in whole or in part, from applicant's business at any of its existing offices, a discussion of the expertise available to the applicant for the successful conduct of the activities;

006.01A3 A showing of adequate staffing and supervision;

006.01B An analysis of the financial feasibility of the proposal, including pro forma financial statements for the office for three years following opening; and

006.01C The proposed name of the branch and the name of every other bank and bank branch office located in the same city, village, or county.

006.02 An applicant to establish a mobile branch of a bank shall submit to the Department:

006.02A A description of the services to be provided through the mobile branch;

006.02B A description of the vehicle(s) to be used as the mobile branch;

006.02C The proposed boundaries of the mobile branch;

006.02D Information regarding any planned fixed stops for the mobile branch;

006.02E Security measures and procedures; and

006.02F Proof that its bond will cover the activities of the mobile branch.

006.03 An applicant to establish a branch of a building and loan association, savings and loan association, or savings bank must show to the Department that:

006.03A There is a need for such a branch in the community where the applicant proposes to be located;

006.03B The application will not result in undue injury to properly conducted local building and loan associations, savings and loan associations, or savings banks;

006.03C The proposed location will be adequately staffed and supervised; and

006.03D There is a reasonable probability of usefulness and success for the applicant as a result of the application.

006.04 An applicant to establish an auxiliary office of an industrial loan and investment company must show to the Department that:

006.04A The application will promote the public necessity or need of the community where the applicant proposes to be located;

006.04B The application will promote the convenience and advantage of the community where the applicant proposes to be located;

006.04C There is a substantial likelihood that there will be no adverse effect on existing financial institutions in the applicant's proposed primary service area, other than normal competitive effects, if the application is approved;

006.04D The proposed location will be adequately staffed and supervised; and

006.04E The proposal is financially feasible.

006.05 An applicant to establish a branch of a credit union must show to the Department that:

006.05A The proposed location has the potential for attracting new members to applicant's field of membership or for providing more convenient or cost-effective services to existing members;

006.05B The proposed location will be adequately staffed and supervised;

006.05C The proposal is financially feasible; and

006.05D If any office is to be closed as a result of the application, the effect on existing members will be minimal.

006.06 An applicant to establish a branch trust office of a state-chartered trust company or a branch trust office of a bank which has been further chartered to conduct a trust department in a bank must submit to the Department:

006.06A Information which will allow the Director to conclude there is a need in the community for the office and that its establishment would be in the public interest. Such information shall include:

006.06A1 A description of the services to be provided and activities to be conducted at the proposed branch trust office;

006.06A2 Information regarding the availability and type of trust services in the proposed primary service area;

006.06A3 A reasonable projection of the number of persons who are likely to need and use trust services, and the basis for such projection;

006.06A4 If the branch trust office is to be located in another state pursuant to the Interstate Trust Company Office Act, the applicant shall also submit a description of services to be provided and activities to be conducted that are permissible for a trust company chartered by the host state where the branch trust office is to be located or for a national bank authorized to conduct a trust company business within the host state that would not be permissible for a trust company chartered under the Nebraska Trust Company Act;

006.06B A showing of adequate staffing and supervision;

006.06C An analysis of the financial feasibility of the proposal, including pro forma financial statements for the three years following opening of the office;

006.06D Proof that the applicant is currently in compliance with the Statement of Principles of Trust Management; and

006.06E If the applicant is a bank which has been further chartered to conduct a trust department, the applicant must also discuss its procedures to ensure that no banking activities will be conducted at the proposed location.

Notes

49 Neb. Admin. Code, ch. 3, § 006