Page:United States Statutes at Large Volume 108 Part 3.djvu/611

 PUBLIC LAW 103-328—SEPT. 29, 1994 108 STAT. 2363 that the bank has an acceptable plan that will reasonably help to meet the credit needs of the communities served by the bank in the host State, and (ii) the out-of-State bank may not open a new interstate branch in the host State unless the bank provides reasonable assurances to the satisfaction of the appropriate Federal banking agency that the bank will reasonably help to meet the credit needs of the community that the new branch will serve. (2) CONSIDERATIONS.— In making a determination under paragraph (1)(A), the appropriate Federal banking agency shall consider— (A) whether the interstate branch or branches of the out-of-State bank were formerly part of a failed or failing depository institution; (B) whether the interstate branch was acquired under circumstances where there was a low loan-to-deposit ratio because of the nature of the acquired institution's business or loan portfolio; (C) whether the interstate branch or branches of the out-of-State bank have a higher concentration of commercial or credit card lending, trust services, or other specialized activities; (D) the ratings received by the out-of-State bank under the Community Reinvestment Act of 1977; (E) economic conditions, including the level of loan demand, within the communities served by the interstate branch or branches of the out-of-State bank; and (F) the safe and sound operation and condition of the out-of-State bank. (3) BRANCH CLOSING PROCEDURE.— (A) NOTICE REQUIRED. —Before exercising any authority under paragraph (l)(B)(i), the appropriate Federal banking agency shall issue to the bank a notice of the agency's intention to close an interstate branch or branches and shall schedule a hearing. (B) HEARING. —Section 8(h) of the Federal Deposit Insurance Act shall apply to any proceeding brought under this paragraph. (d) APPLICATION.— This section shall apply with respect to any interstate branch established or acquired in a host State pursuant to this title or any amendment made by this title to any other provision of law. (e) DEFINITIONS. — For the purposes of this section, the following definitions shall apply: (1) APPROPRIATE FEDERAL BANKING AGENCY, BANK, STATE, AND STATE BANK.— The terms "appropriate Federal banking agency", "bank", "State", and "State bank" have the same meanings as in section 3 of the Federal Deposit Insurance Act. (2) HOME STATE.— The term "home State" means— (A) in the case of a national bank, the State in which the main office of the bank is located; and (B) in the case of a State bank, the State by which the bank is chartered. (3) HOST STATE.— The term "host State" means a State in which a bank establishes a branch other than the home State of the bank.

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