Application to establish a loan production office by a state-chartered bank, savings bank, or savings



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STATE OF LOUISIANA
OFFICE OF FINANCIAL INSTITUTIONS
Baton Rouge, Louisiana


APPLICATION TO ESTABLISH A
LOAN PRODUCTION OFFICE
BY A STATE-CHARTERED BANK, SAVINGS BANK, OR SAVINGS
& LOAN ASSOCIATION DOMICILED IN THE STATE OF LOUISIANA

NAME OF FINANCIAL INSTITUTION



Location

City


State



INFORMATION FOR THE APPLICANT - PUBLIC SECTION


  1. A completed Application shall be filed at least 30 days prior to the anticipated first day of operation. The Commissioner reserves the right to make subsequent requests for additional information. Any material submitted must have prior approval from the financial institution's board of directors before filing an Application. A duplicate copy should be retained by the financial institution.




  1. Schedules or inserts should be attached to this Application. Such attached schedules or inserts are a part of this Application. All schedules or inserts should be on paper the same size as this page. Applications are to be securely bound.




  1. Requests for clarification as to what information is necessary to complete this Application should be directed to the Office of Financial Institutions.




  1. You may provide any information in addition to that requested by the Office which, in your opinion, might aid in the disposition of your Application. However, any such unsolicited information will be accepted for consideration with the understanding that it may be made public.






Office Of Financial Institutions

Application for a Loan Production Office by a State-Chartered Institution Domiciled in Louisiana

Name of Financial Institution


Complete Address (Main Office)

Street & Number


City


Parish


State


Zip Code


Exact Name of Propsed Loan Production Office (The Name Must Include the Words "Loan Production Office")

Complete Address (Proposed Loan Production Office)

Street & Number


City


Parish


State


Zip Code


While this Office will utilize financial and other information that is already available to us in the analysis of this Application, please attach the following items for additional information:

A. Financial History and Condition

(1) Provide a pro forma statement of condition for the opening date, first, and second years of operations of the proposed LPO along with a clear description of the assumptions used. Specifically, include an estimate of the volume of loans to be initiated by the proposed LPO during the same time frames.

(2) Indicate whether the type of the facility for the proposed LPO is to be permanent quarters leased, permanent quarters owned, or temporary quarters.

(3) If the facility is to be leased, attach a copy of the lease along with a statement from a Certified Public Accountant indicating whether the lease is considered a capital or an operating lease according to the provisions of FAS 13 - Accounting for Leases.

(4) If the facility for the proposed LPO will be owned, please include a brief description of the property, the selling price, and the name of the seller.

(5) Provide an estimated cost of the furniture, fixtures, and equipment to be utilized in the proposed LPO.

(6) Disclose any relationship or association any director might have with the institution's purchase or lease of the proposed LPO facility, including furniture, fixtures, and equipment.

B. Future Earnings Prospects

(1) Provide a pro forma statement of income for the first, second, and third years of operations of the proposed LPO along with a clear description of the assumptions used.



C. General Character of the Loan Production Office Management

(1) Provide the name, title, and previous experience of the management of the proposed LPO. Also include the number of additional employees to be utilized in the proposed LPO.

(2) Provide information on the institution's fidelity bond coverage including a letter from the insurer acknowledging that coverage will be extended to the proposed LPO employees. If the current policy covers additional facilities, a copy of this section of the policy may be substituted for the letter from the insurer.

D. Convenience and Needs of the Community to be Served

(1) Provide a description of the trade area which the proposed LPO plans to serve.



E. Other Factors - if applicable

(1) A "No Objection Letter" from the appropriate chartering authority in the state which the proposed LPO is to be located.

(2) A letter or other evidence of authority from the Secretary of State in the state which the proposed LPO is to be located, indicating that the applicant is authorized to do business in that state.



STATE OF LOUISIANA
OFFICE OF FINANCIAL INSTITUTIONS
Baton Rouge, Louisiana


APPLICATION TO ESTABLISH AN IN-STATE


LOAN PRODUCTION OFFICE
BY A STATE-CHARTERED BANK, SAVINGS BANK, OR SAVINGS
& LOAN ASSOCIATION DOMICILED IN THE STATE OF LOUISIANA

CONFIDENTIAL SECTION


INFORMATION FOR THE APPLICANT - CONFIDENTIAL SECTION

In preparing your Application, keep in mind that the Office of Financial Institutions deems that public policy warrants making all information submitted in connection with your Application available for public review unless it is confidential in nature and qualifies for exemption under the provisions of the Public Records Act. The Office has determined that Application information (meeting any of the four following categories) is likely to be of such confidential nature:



  1. Trade secrets and commercial or financial information obtained from a person and privileged or confidential.

  2. Personnel and medical files and similar files the disclosure of which would constitute a clearly unwarranted invasion of personal privacy.

  3. Information submitted with this Application form which is in the nature of examination report information.

  4. Information submitted with this Application form which the Commissioner of Financial Institutions deems confidential.

However, the determination of the question of confidentiality and the discretion to release information which is exempt resides with this Office. After consideration, the specific information you include in this section may be made available for public review. Any information that you consider to be confidential should be attached behind this page.


 


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