Rule 80-1-1-.10. Qualifying Criteria for Expedited Processing for Applications by a Bank Other than Charter

Rule 80-1-1-.10. Qualifying Criteria for Expedited Processing for Applications by a Bank Other than Charter

1. (1) The following criteria, when met and certified to by an applicant financial institution, shall, where permitted by statute or rule, qualify the bank to utilize a shorter application and/or an expedited process for approval:

   1. (a) The bank must be well capitalized as defined in the appropriate capital regulation and guidance of the institution's primary federal regulator;
   2. (b) The bank must have received a CAMELS composite rating of "1" or "2" as a result of the most recent state or federal examination;
   3. (c) The bank must have a satisfactory or better Community Reinvestment Act rating from its primary federal regulator at its most recent examination; and
   4. (d) The bank must not be subject to any agreements, orders, prompt corrective action directives or other enforcement or administrative agreements with the Department or its primary federal regulator or other chartering authority.

2. (2) The Department may deny or remove from expedited processing any bank's application where it finds that:

   1. (a) Safety and soundness concerns of the Department dictate a more comprehensive review;
   2. (b) Any material adverse comment is received by the Department;
   3. (c) Other supervisory concerns, legal issues, or policy issues come to the attention of the Department;
   4. (d) If applicable, any acquisition of fixed assets would cause the institution to exceed the state fixed asset limitation; or

   5. (e) Any other good cause exists for denial or removal.

      In this event, the institution will be notified that expedited processing is not available, the reason, and instructions as to how to proceed.

Authority: O.C.G.A. §§ 7-1-61, 7-1-79.

History. Original Rule entitled "Qualifying Criteria for Expediting Processing for Bank Applications" adopted. F. July 14, 1998; eff. August 3, 1998.

Amended: Rule retitled "Qualifying Criteria for Expediting Processing for Applications by a Bank (Other than Charter)". F. July 12, 1999; eff. August 1, 1999.

Amended: F. Jan. 8, 2021; eff. Jan. 28, 2021.

Amended: New title, "Qualifying Criteria for Expedited Processing for Applications by a Financial Institution Other than Charter." F. July 7, 2022; eff. July 27, 2022.

Amended: New title, "Qualifying Criteria for Expedited Processing for Applications by a Bank Other than Charter." F. July 12, 2024; eff. Aug. 1, 2024.