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Bank branching and trust company

Date: 09.12.2020
Author: Jayvon Ocampo

bank branching and trust company

BB&T Bank operates with branches located in 16 states. Get addresses Aug 01, Acquired Semper Trust Company () in King Of Prussia, PA. Branch Banking operated as a private institution until , when it began operating under a charter. In it became the first bank in the state to engage in trust. Branch Banking and Trust Company; Member FDIC. BB&T, West Second Street, PO Box , Winston Salem, NC Copyright ©.

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Branch Banking and Trust Company (BB\u0026T)

Bank branching and trust company -

Any agency of another state with primary responsibility for chartering and regulating banks. Is originally established by the bank as a branch. Does not become a branch of the bank as a result of: a. The acquisition of another bank or a branch of another bank; or b. The merger, consolidation, or conversion involving any such bank or branch.

With respect to a state bank, the state by which the bank is chartered. With respect to a national bank, the state in which the main office of the bank is located.

With respect to a foreign bank, the state determined to be the home state of such foreign bank under 12 U. No later than the date on which the required application for the interstate merger transaction is filed with the responsible federal bank regulatory agency, the applicant state bank shall file an application on a form prescribed by the department accompanied by the required fee pursuant to s.

An out-of-state bank resulting from such transaction may maintain and operate the branches of a Florida bank that participated in such transaction, provided that the conditions and filing requirements of this section are met. However, this paragraph does not apply to initial entry into this state by an out-of-state bank or bank holding company. Such fees may be shared with other bank regulatory agencies or any organizations affiliated with or representing one or more bank regulatory agencies in accordance with agreements between them and the department.

The merger or interstate merger transaction of any such failing financial entity with a state bank or bank holding company that controls a state bank; 2.

Any bank to acquire assets and assume liabilities of the Florida branches of any such failing financial entity; 3. The conversion of any such failing financial entity into a state bank or trust company; 4.

The chartering of a new state bank to acquire the Florida branches of any such failing financial entity; or 5. The chartering of a new state trust company to acquire assets and assume liabilities and rights, powers, and responsibilities as fiduciary of such failing financial entity. In acting on the application, the department shall consider the views of the appropriate bank regulatory agencies.

However, an out-of-state bank with trust powers resulting from an interstate merger transaction with one or more Florida banks with trust powers shall be entitled to and may exercise all trust powers in this state as a Florida bank with trust powers that participated in the transaction.

This section is repealed September 1, The extraneous term "branching. Disclaimer: These codes may not be the most recent version. Florida may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site.

Please check official sources.

bank branching and trust company

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