Banks may establish branch banks under the restrictions prescribed in this chapter, but no branch bank may be established unless the parent bank shall have first obtained from the commissioner a certificate that the public convenience and necessity will be promoted by the establishment of such branch bank. Applications seeking permission for the establishment of […]
Subject to the provisions of subsections (2), (3) and (4) of Section 81-7-8, a bank may annex actively operating unit banks as branch banks by exchanging its own increase of common or preferred capital shares, issued for such annexation purpose, for the capital shares of the bank proposed to be annexed as a branch. Also […]
No branch bank in this state may be discontinued or abandoned without the consent in writing of the commissioner first obtained. By and with such consent first obtained, branch banks may be moved from one municipality to another within the restrictions provided in this chapter as to branching de novo. Any established unit bank (branch […]
The state comptroller shall formulate rules and regulations for the examination of branch bank systems, including provisions for the simultaneous examination of a parent bank and all of its branches, and such rules and regulations when reduced to writing shall be enforced by him as other provisions of the Mississippi Banking Law.
National banks are hereby granted the right and authority to establish branches in this state, with the same rights and under the same restrictions as state banks establishing branches. But where federal statutes and regulations impose different restrictions, including minimum capital stock requirements, from those imposed by this state, then such federal restrictions may apply […]
As used in this section, unless the context otherwise requires: “Appropriate regulatory officials” means, for any national bank in Mississippi, the Comptroller of the Currency of the United States; “appropriate regulatory officials” means, for any state bank in Mississippi, the Commissioner of Banking and Consumer Finance or the Federal Deposit Insurance Corporation or the Board […]
None of the provisions of Sections 81-7-1, 81-7-3, 81-7-7 and 81-7-9 of this chapter shall be mandatory on branch banks heretofore established and in operation on April 2, 1934, nor on the parent bank of such branch banks so far as such branch banks are concerned, but such parent and branch banks shall continue to […]
The provisions of this chapter apply to branching within the State of Mississippi by: Banks chartered by the State of Mississippi or national banks having their headquarters in the State of Mississippi, and Out-of-state banks which maintain a branch in the State of Mississippi subsequent to an interstate branching transaction pursuant to Chapter 23, Title […]
The name of all branch banks in this state shall include the name of the parent bank, followed by the name of the municipality in which the branch is domiciled, followed in turn by the word “branch”, and such name shall be prominently displayed upon the branch bank premises. Where an established bank is annexed […]
For purposes of this section and Section 81-7-8, “branch bank de novo” or “branching de novo” refers to a branch established by the opening of a new branch bank and includes a branch bank or branch office acquired from another bank without acquiring substantially all of the assets of the other bank. Subject to the […]
A bank chartered after October 16, 1985, may neither establish a branch by merger, consolidation or purchase as provided in Section 81-7-7(2)(b) nor become a branch as the result of such a transaction, unless such bank has been in continuous operation as a state or federally chartered bank, savings association or savings bank for at […]
All parent banks permitted to establish branch banks shall have capital sufficient to meet the requirements of the commissioner and/or other supervising federal regulatory agencies.
