362.915. Limitation on bank holding company--total deposits, how computed. - Missouri Statutes

Limitation on bank holding company--total deposits, how computed.

362.915. It is unlawful for any bank holding company to obtaincontrol of any bank or depository financial institution if the totaldeposits in such bank or institution together with the total deposits inall banks and depository financial institutions in Missouri controlled bythe bank holding company exceed thirteen percent of the total deposits inall depository financial institutions in the state, determined as ofDecember thirty-first of the most recent year for which totals areavailable, preceding the date the bank holding company files an applicationwith the division of finance as required by sections 362.910 to 362.940.For the purposes of this section, "depository financial institution" shallmean any financial institution which accepts deposits and which may protectits customers' funds by insurance through an agency of the federalgovernment. In computing the total bank deposits in all banks controlledby the bank holding company and the bank which the holding company seeks toacquire, there shall be deducted from total deposits, certificates ofdeposit in the face amount of one hundred thousand dollars or more,deposits from sources outside the United States, and deposits of banksother than banks controlled by the bank holding company.

(L. 1974 H.B. 1798 § 1 subsec. 2, A.L. 1988 S.B. 768, A.L. 1997 H.B. 257)