Investment in Bank Premises

Any state member bank that seeks to increase its direct or indirect investment in bank premises, if the aggregate level of investment will exceed the threshold specified in Regulation H. (Investment exceeds the bank’s perpetual preferred stock and common stock plus related surplus.)

Section 208.21 of Regulation H

None required

A letter that includes:

1. current and pro forma financial statements;

2. the amount, general description, and purpose of the proposed investment; and

3. the seller and whether such party is related to, or is an affiliate of, the applicant or any of its directors, senior executive officers, or shareholders.

An appraisal if the property is being purchased from an affiliate or related party.

15 days after the notice is received by the Federal Reserve unless applicant is notified that the investment is subject to further review by the end of the 15 day notice period