N.Y. Comp. Codes R. & Regs. tit. 3 § 112.2

Current through Register Vol. 46, No. 53, December 31, 2024

Section 112.2 - Report to the superintendent

(a) Every banking organization shall submit to the Superintendent of Banks a report of its planned closing of a branch office not less than 90 days nor more than 180 days prior to the planned closing. Such report shall be in writing and shall contain:

(1) a statement of the reasons leading to the decision to close the branch;

(2) any statistical or other information in support thereof;

(3) a past (at least three years), present and projected financial analysis of deposits at such branch (giving number of accounts and dollar amount, profits and losses);

(4) a past (at least three years), present and projected financial analysis of profits and losses relating to the loan activity at such branch;

(5) a detailed map of the general area served by such branch, showing the distance and direction of all remaining State- or federally chartered banking institutions within such area and any licensee of the Banking Department which provides financial services of any kind (e.g.,licensed lenders, check cashers); and

(6) a description of any planned limited or full service banking facility to be opened within such area by either the reporting banking organization or, if known to the reporting banking organization, by any other banking institution.

(b) Reports submitted pursuant to this section shall be treated as confidential, pursuant to section 106.6 of these Supervisory Procedures.

N.Y. Comp. Codes R. & Regs. Tit. 3 § 112.2