§ 13-9-310 — Standards for approval

Wyoming § 13-9-310

• Jurisdiction: Wyoming
• Title 13: Banks, Banking and Finance
• Ch. 9: BANK RELATED ORGANIZATIONS
• Art. 3: INTERSTATE BANKING - ACQUISITIONS OF BANKS

Text

(a) In deciding whether to approve an application for a
proposed acquisition under this article, the commissioner shall
consider whether:
(i) There is or recently has been evidence of
criminal activity on the part of the applicant or any of its
officers or directors;
(ii) The acquisition may be detrimental to the safety
and soundness of the Wyoming bank or the Wyoming bank holding
company to be acquired;
(iii) The acquisition may result in a substantial
reduction of competition in this state; or
(iv) The acquisition may have a significantly adverse
effect on the convenience and needs of the community or
communities in this state that are served by the Wyoming state
bank or the Wyoming bank holding company to be acquired.
(b) The commissioner shall not approve an acquisition
under this article if upon consummation of the transaction the
applicant, including any insured depository institution
affiliated with the applicant, would control thirty percent
(30%) or more of the total amount of deposits held by insured
depository institutions in this state. Nothing in this
subsection prohibits the acquisition of a Wyoming bank or
Wyoming bank holding company which controls thirty percent (30%)
or more of the total deposits held by all insured depository
institutions in this state if the company making the acquisition
does not control any bank holding company, bank or branch bank
in this state.
(c) The commissioner shall not approve an application by
an out-of-state bank holding company for an acquisition under
this article unless the Wyoming bank to be acquired or all
Wyoming bank subsidiaries of the bank holding company to be
acquired, or a predecessor, have as of the proposed date of
acquisition been in existence and in continuous operation for at
least three (3) years. A state bank resulting from the
conversion of a federally chartered savings and loan, federally
chartered savings bank or state savings and loan pursuant to
W.S. 13-4-109, an out-of-state state bank pursuant to the
procedures prescribed by the laws of the United States or of the
state issuing a state charter for the out-of-state state bank or
a national bank resulting from the conversion of a federally
chartered savings and loan or federally chartered savings bank
pursuant to the procedures prescribed by the laws of the United
States shall be deemed to have been in existence for the same
period of time as the converting federally chartered savings and
loan, federally chartered savings bank, out-of-state state bank
or state savings and loan or a predecessor.