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Decisions on Bank Applications

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Disclaimer

The orders and statements below were approved in connection with activities under 24 of the F.D.I. Act, Part 362 of the FDIC's regulations, and in some cases also under 18(l) of the F.D.I. Act and Part 347 of the FDIC's regulations. While most of the post-1997 orders and statements set out below are derived from official sources, there are many older pre-1997 orders and statements issued under 24 that were scanned from archived files. These may vary slightly in terms of the conditions actually imposed as approved by the Board of Directors. We have tried to exercise the greatest care in the reproduction of these older scanned documents. Should you note any inaccuracies or have any concerns or questions please contact Sandy Hinegardner, Paralegal Specialist, Legal Division, Supervision & Legislation Section, Bank Activities Unit -- 202/898-6845.

Real Estate

Development (over 2% of Tier 1 capital) - Bank may indirectly through a wholly-owned subsidiary develop residential-commercial real estate from the initial stage involving over 2% of Tier 1 Capital

Development (2% of Tier 1 capital or less) - Bank may indirectly through a wholly-owned subsidiary develop residential-commercial real estate from the initial stage involving 2% of Tier 1 Capital or less.

Hold to liquidate - Bank may indirectly through a wholly-owned subsidiary hold residential-commercial real estate until liquidation.

Hold (over 2% of Tier 1 capital) - Bank may indirectly through a wholly-owned subsidiary hold residential-commercial real estate involving over 2% of Tier 1 Capital.

Hold beyond 10 years - Bank may indirectly through a wholly-owned subsidiary own real estate beyond the ten year statutory limit.

Hold (2% of Tier 1 capital or less) - Bank may indirectly through a wholly-owned subsidiary hold residential real estate involving 2% of Tier 1 Capital or less.

Leasing (over 2% of Tier 1 capital) - Bank may indirectly through a wholly-owned subsidiary engage in the leasing of real property under certain circumstances involving over 2% of Tier 1 Capital.

Leasing (2% of Tier 1 capital or less) - Bank may indirectly through a wholly-owned subsidiary engage in the leasing of real property under certain circumstances involving 2% of Tier 1 Capital or less.

Other Activity - Activities and investments that do not fall into the broad categories listed.

Subsidiary structured as limited liability company - Bank may indirectly through a majority owned subsidiary organized as a limited liability company engage in activities under 24 of the FDI Act.

Subsidiary structured as limited partnership - Bank may indirectly through a wholly-owned subsidiary organized as a limited partnerships engage in activities under 24 of the FDI Act.

Corporate subsidiary invests in limited partnership or limited liability company - Bank's majority-owned subsidiary may invest in a limited partnership or liability company.



Last Updated 03/24/2011 Legal@fdic.gov