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Decisions on Bank Applications

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Part 347
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Part 347 Applications
Bank may acquire and hold equity interest in foreign organizations under 18(l) of the FDI Act.

Disclaimer
The following list shows those activities and investments approved by the FDIC under Section 18(l) of the FDI Act and Part 347 of the FDICís Rules and Regulations. The list provides insured state banks and their counsel some initial guidance regarding activities and investments that the FDIC may approve. However, the fact that a particular activity or investment has received FDIC approval in the past does not affect the obligation of another institution to seek permission from the FDIC to engage in the same or similar activity. Additionally, the fact that a particular investment or activity has been approved in the past does not restrict the FDIC's review of future requests to engage in similar activities nor our ability to impose prudential standards on the conduct of that activity. Finally, it should be borne in mind that since the time any particular application was approved, key statutory or regulatory changes may have taken place, which might impact how the issues would be treated today.

WRIGHT EXPRESS FINANCIAL SERVICES CCORPORATION - SALT LAKE CITY, UT
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 11/2/2006    
Application for Specific Consent To Organize and Operate a Wholly-Owned Canadian Subsidiary, Wright Express Canada, Inc., New Brunswick, Canada, Organized Under the Laws of the Province of New Brunswick, Canada, and to be Domiciled in Salt Lake City, Salt Lake County, Utah. Wright Express Financial Services Corporation


FIRST HAWAIIAN BANK - HONOLULU, HI
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 3/29/2002    
Application for consent to establish a full service branch office to be located at Photo Town Building, Chalan San Antonio, Lot Number 2149-1-6, Unit Number 101, Tamuning, Guam First Hawaiian Bank


THE LA PORTE SAVINGS BANK - LA PORTE, IN
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 3/20/2002    
Application to establish a wholly-owned foreign subsidiary to be located in and organized under the laws of the Cayman Islands. The La Porte Savings Bank


FIDUCIARY TRUST COMPANY INTERNATIONAL (Cayman Islands) - NEW YORK, NY
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 6/21/2001 $100,000  
Application to contribute U.S. $100 thousand in additional capital to FTCI (Cayman) Ltd., an existing indirect wholly-owned subsidiary. Fiduciary Trust Company International


FIRST COMMERCIAL BANK OF HUNTSVILLE - HUNTSVILLE, AL
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 5/4/2001    
Application for Consent to Establish a Shell Foreign Branch in Georgetown, Grand Cayman, Grand Cayman Islands First Commercial Bank of Huntsville


AMALGAMATED BANK - NEW YORK, NY
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 4/26/2001 250M  
Application by bank, chartered by the Amalgamated Clothing Workers of America, under Part 347 to organize and indirectly hold an interest in a foreign organization to be named AmErin Partners (Partners). Amalgamated Bank


REGIONAL BANK - NEW ALBANY, IN
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 7/12/2001    
Application to establish a wholly-owned foreign subsidiary to be located in and organized under the laws of Bermuda. Regional Bank


SEVEN MAINE BANKS - , ME
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 4/5/2001 $ 10,000  
Application filed on behalf of seven Maine non-member banks, to acquire through majority owned subsidiaries, a 3% minority interest in a foreign private mortgage insurance reinsurance company organized under the laws of the Turks Caicos Islands, British West Indies. Seven Maine Banks


BANK OF HAWAII (S.A. Tahiti Beachcomber) - HONOLULU, HI
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 8/29/2000    
Application of the Bank of Hawaii for consent to acquire, indirectly through its subsidiary Banque de Tahiti, one share of S.A. Tahiti Beachcomber, a foreign organization headquartered in French Polynesia, Tahiti, a French Overseas Territory. Bank of Hawaii - Beachcomber


WILMINGTON TRUST COMPANY (Cayman Islands) - WILMINGTON, DE
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 6/8/2000    
Application for consent to acquire and hold all of the issued and outstanding shares of a foreign financial entity, Wilmington Trust (Cayman), Ltd. ("Cayman Subsidiary"), to be established in the Cayman Islands, British West Indies. Wilmington Trust Company


WILMINGTON TRUST COMPANY (Channel Islands) - WILMINGTON, DE
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 7/17/2000    
Application for consent to acquire and hold all of the issued and outstanding shares of a foreign financial entity, Wilmington Trust (Channel Islands), Ltd. ("Channel Islands Subsidiary"), to be established in Jersey, the Channel Islands. Wilmington Trust Company


UNION BANK & TRUST COMPANY OF INDIANA - GREENSBURG, IN
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 5/31/2000    
Application to establish a wholly-owned foreign subsidiary to be located in and organized under the laws of Bermuda. Union Bank & Trust Company


PEOPLE'S TRUST COMPANY - BROOKVILLE, IN
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 5/31/2000    
Application to establish a wholly-owned foreign subsidiary to be located in and organized under the laws of Bermuda. The application was filed by Union Bank and Trust Company of Indiana ("the Bank") pursuant to Section 347.108(d) of the Federal Deposit Insurance Corporation's ("FDIC's") Rules and regulations. It is understood that the foreign subsidiary will only hold and manage a portion of the Bank's investment portfolio. People's Trust Company


CIB BANK - HILLSIDE, IL
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 1/4/2000    
Application to to establish a branch to be located in and organized under the laws of the Cayman Islands. The foreign branch will only transact Eurodollar deposits. CIB Bank


CITIZENS BANK OF MASSACHUSETTS - BOSTON, MA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 4/4/2000    
Application to establish a branch to be located and organized under the laws of the Cayman Islands. Citizens Bank of Massachusetts


FIDUCIARY TRUST COMPANY INTERNATIONAL (Australia) - NEW YORK, NY
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 8/6/1999    
Application for consent to hold, via a wholly-owned subsidiary, 100 percent of the issued and outstanding shares of a company, a foreign financial entity, to be organized under Australian law. The purpose of the proposed investment is to allow Fiduciary Trust to establish a foreign financial entity which will organize and manage unit trusts in Australia. Australia's regulators require that the unit trusts with the size and purpose to be organized and operated by Fiduciary Australia have a "single responsible entity" responsible for the unit trusts and compliance with regulatory matters. Fiduciary Australia will serve as such a "single responsibility entity" for the unit trusts and will obtain the requisite "dealer's license" from the ASIC to operate and manage the unit trusts. Fiduciary Trust Company International


BANK OF HAWAII (Bank of Queensland, Limited, Brisbane, Australia) - HONOLULU, HI
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 4/28/1998    
Application of Bank of Hawaii for consent to hold, via a wholly-owned subsidiary, approximately 10.7 percent of the issued and outstanding shares (per conversion of subordinated notes) of Bank of Queensland, Limited, Brisbane, Australia Bank of Hawaii (Bank of Queensland, Limited, Brisbane, Australia)


BANK OF HAWAII (Banque Paribas) - HONOLULU, HI
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 4/28/1998    
Application of the Bank of Hawaii for consent to acquire and hold, via a wholly-owned subsidiary, controlling interests in Banque Paribas Pacifique, Noumea, New Caledonia ("BPPNC"), Banque Paribas Polynesia, Papeete, Tahiti ("BPPT"), certain affiliates of each, and minority interests in two banking-related entities, Bank of Hawaii (Banque Paribas)


BANK OF HAWAII (Banque Indosuez Niugini Ltd) - HONOLULU, HI
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 2/25/1997    
Application of Bank of Hawaii, Honolulu, Hawaii, for consent to acquire and hold, via its wholly-owned subsidiary Bank of Hawaii International, Inc., all of the issued and outstanding shares of Banque Indosuez Niugini Ltd, which has a wholly-owned subsidiary, Indoniu Finance Company Ltd, both of which are located in Port Moresby, Papua New Guinea. Bank of Hawaii (Banque Indosuez Niugini Ltd)


FIDUCIARY TRUST COMPANY INTERNATIONAL (Japan) - NEW YORK, NY
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 3/31/1998    
Application of the subject bank- for consent to hold, via a wholly-owned subsidiary, all of the issued and outstanding shares of Sanyo Investment Management Company, Limited, Tokyo, Japan. Fiduciary Trust Company International (Japan)


LAKE CITY BANK - WARSAW, IN
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 8/19/1999    
Application to establish a wholly owned foreign subsidiary to be located and organized under the laws of Bermuda. Lake City Bank


CONTINENTAL SAVINGS BANK - SEATTLE, WA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 3/27/2000 $ 13,000 > 1%
Application to hold all the shares of Continental Reinsurance Company, a de novo foreign organization that will reinsure private mortgage insurance located in the Turks and Caicos Islands, a British overseas territory. Continental Savings Bank


CAROLINA FIRST BANK - GREENVILLE, SC
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 3/17/1999    
Application for consent to establish a shell (nameplate) foreign branch in George Town, Grand Cayman Islands, in care of The Bank of Nova Scotia Trust Co. (Cayman), Ltd., P.O. Box 501, Cardinal Avenue, Grand Cayman, Cayman Islands, British West Indies Carolina First Bank


CENTIER BANK - WHITING, IL
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 8/3/1999    
Application to establish a wholly owned foreign subsidiary to be located and organized under the laws of Bermuda. Centier Bank


CENTRAL CAROLINA BANK & TRUST COMPANY - DURHAM, NC
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 2/10/2000 5M 7%
Application for approval under section 18(l) and section 24 of the FDI Act, to acquire the shares of Sprunt Insurance Company, a de novo foreign organization located in the British Virgin Islands. Central Carolina Bank and Trust Company




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