How to File a Bank Charter
- 1). Determine your filing location. Even if you plan for your bank to have locations in multiple states, it still needs to have a single headquarters that acts as the corporate office and counts as your filing location. For national banks, the OCC operates several regional offices. Use the OCC website to determine which regional office you should use to file your bank charter (see Resources).
- 2). Contact the appropriate banking regulatory body. For national banks, this is the appropriate regional office of the OCC. For state banks, this is your state's banking commission. You can find the contact information for your state's banking body on the state government's website. The banking commission not only will provide you a copy of the application but also can talk you through the process. Going over the application process will help you avoid incomplete-application delays.
- 3). Determine your bank name. You will need to choose a name that no other bank is using. You can check the business registry records in your state, or for national banks, with the OCC. In some states, you need to have your bank name approved before you can file your charter application.
- 4). Complete your bank charter application. Be prepared to provide information about all of the investors in the bank, the stock options for everyone investing in the bank, details about proposed corporate offices and where and when you hope to open. You will also need to provide extensive financial background information, including credit histories of everyone involved and proof that you have the financial assets to support the bank. The financial assets required to open a bank depend on where you plan to operate.
- 5). Submit your charter application and filing fee. The filing fee for a bank charter can be several thousand dollars, though some states allow you to apply for a fee reduction or waiver if you plan to operate in a low-income area or rural area.
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