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Washington State Bank Branch Application Instructions

This file provides instructions on applying to establish, purchase, or relocate a bank branch in Washington State. It includes filing methods, legal requirements, and other essential information for banks. Use this resource to navigate the application process efficiently.

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How do I fill this out?

To fill out this application, start by selecting the type of branch you wish to establish or relocate. Provide all required details accurately and attach additional documentation as needed. Ensure that all sections are completed to facilitate timely processing.

How to fill out the Washington State Bank Branch Application Instructions?

1
Choose the type of branch application from the options provided.
2
Fill in the necessary information regarding the branch's current or proposed location.
3
Attach any required documents related to compliance and financial standing.
4
Submit the completed application via the preferred filing method.
5
Wait for the Division of Banks to process your application.

Who needs the Washington State Bank Branch Application Instructions?

1
Banks looking to expand their operations within Washington State.
2
Financial institutions seeking to relocate existing branches.
3
Start-up banks that need to establish a new branch location.
4
Banking services looking to provide mobile or courier services.
5
Banks needing a temporary or seasonal branch to meet market demands.

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What are the important dates for this form in 2024 and 2025?

What is the purpose of this form?

Tell me about this form and its components and fields line-by-line.

What happens if I fail to submit this form?

How do I know when to use this form?

What are the important dates for this form in 2024 and 2025?

Important dates for submitting branch applications typically align with regulatory review cycles. Ensure to submit your applications as early as possible to accommodate any processing time. Keep an eye on official announcements for any updates regarding deadlines.

What is the purpose of this form?

The purpose of this form is to streamline the application process for financial institutions wishing to establish, purchase, or relocate banking branches in Washington State. Proper completion ensures compliance with state regulations, promoting a structured approach to banking expansion. This form serves as a formal request, providing necessary details to the Division of Banks for timely consideration and approval.

Tell me about this form and its components and fields line-by-line.

This form consists of several sections requiring specific information from applicants.

1. Application Type: Indicate the type of application you'll be submitting - domestic, mobile, or temporary branch.
2. Bank Information: Include the exact corporate title of the bank and address of the head office.
3. Branch Location: Specify the address for the new or relocated branch.
4. Legal Requirements: Provide CRA ratings and compliance documentation.
5. Projections: Detail the three-year projections for loans and deposits.

What happens if I fail to submit this form?

Failing to submit this form may result in delays in establishing or relocating a bank branch. It can also lead to potential legal issues for non-compliance with state banking laws. Therefore, timely and complete submission of the application is crucial.

Delays in Processing: The application will not be processed, causing setbacks in your planned operations.
Non-Compliance Risks: Operating without proper authorization can lead to legal penalties.
Increased Costs: Delays may lead to higher operational costs due to prolonged uncertainty.

How do I know when to use this form?

This form should be used whenever a bank desires to establish, relocate or purchase a branch in Washington State. It is essential for compliance with state laws that govern banking operations. If you are looking to expand your banking services or relocate, this application is necessary.

1. Establishing a New Branch: Use this form if your bank intends to open a new location.
2. Relocating an Existing Branch: If moving a branch to a new address, this application is required.
3. Operational Changes: For any changes in the way the bank conducts its services, including mobile branches.

Frequently Asked Question

What is the purpose of this application?

This application is designed for banks looking to establish or relocate branches within Washington State.

How do I submit the application?

You can submit your application via FDICconnect, email, or by sending a physical copy to the Division of Banks.

What information is required?

You'll need to provide details about your bank, the type of branch, and its proposed location.

How long will the application process take?

Processing timelines can vary, but it is advisable to notify the Division of Banks at least two weeks before your intended opening.

Can I apply for multiple branches at once?

No, each branch requires a separate application to be processed.

What if my last CRA rating was unsatisfactory?

You will need to attach documentation explaining the issues and your plan for improvement.

Are there fees associated with this application?

Yes, the Division of Banks charges fees for processing and obtaining certificates.

Is there a specific format for the projections?

Yes, you should include a three-year projection for loans and deposits in your application.

What should I do if I have questions while filling out the application?

For any inquiries, you can contact the Division of Banks directly for assistance.

Can this application be edited after submission?

Once submitted, any changes would require a new application to be filled out.