12.16.3.8

Formula for determining the net worth of bank main offices and branches:

1. A. The net worth of a main office of a bank and/or its manned branches within the geographical boundaries of a governmental unit or local school district is the total equity capital of the bank multiplied by the percentage that deposits of the main office and/or its manned branches within the geographical boundaries of the governmental unit are of the total deposits of the bank.
2. B. The formula is as follows: Total equity capital times the sum of deposits in the main office and/or all manned branches of the same bank within the boundary divided by total deposits equals net worth of main office and/or manned branches within the boundary.

3. C. Branch deposit data used shall be the most current available. Bank deposits by county within the state and for each bank and banking office are surveyed by the federal deposit insurance corporation each year as of June 30 and published in book six of the data book. Additional geographic distributions are published in the national data book. The most current of these publications may be used. The required information is available on the internet at www.fdic.gov. The national data book may be obtained from: FDIC Public Information Center. 801 17th Street, NW, Room 100, Washington, DC 20434-0001.

   [02-28-98; Recompiled 10/15/01]

   History OF 12.16.3 NMAC:

   Pre-NMAC Regulatory Filing History: The material in this part was derived from that previously filed with the State Records Center and Archives under:

   Regulation 81-2, Promulgation of Formula for Determining Net Worth of Banks and Savings and Loan Associations for Purpose of Distribution of Public Money filed 12/31/81.

   Regulation 83-4, Promulgation of Formula for Determining Net Worth of Banks For Purpose of Distribution of Public Money filed 6/14/83.

   History of Repealed Material: [RESERVED]