Missouri Revised Statutes













Chapter 362

Banks and Trust Companies

←362.106

Section 362.107.1

362.109→

August 28, 2015

Branch banking allowed, requirements--director of finance to approve, appeals.

362.107. 1. Every bank and every trust company organized under Missouri

law may, upon compliance with this section, establish, maintain and operate

branches separate and apart from the location designated in its articles of

agreement.



2. No bank or trust company may establish, maintain or operate any branch

without having first obtained the approval of the director of finance;

provided that a drop box for deposit purposes shall not be considered a

branch.



3. All those services which a bank or trust company is authorized by law

to provide may be provided at any of its branches.



4. Whenever any bank or trust company desires to establish, maintain and

operate a branch, or to move a branch previously established to another

location, it shall apply to the director of finance for such authority and

provide the director of finance with such relevant information as he may

reasonably request. In determining whether or not to approve the

application, the director of finance shall consider:



(1) The convenience, needs and welfare of the people of the community

and area to be served;



(2) The financial strength of the bank or trust company making

application for the branch in relation to the cost of establishing,

maintaining and operating the branch;



(3) Whether any other banks or trust companies will be seriously injured

by the approval of the application for the branch; provided, however, any

bank which purchases assets of a closed bank or a failed savings and loan

association closed by its chartering authority may establish, maintain and

operate branches at all locations which were operated by the closed bank or

failed savings and loan association. For purposes of this section, the terms

"closed bank" or "failed savings and loan association" shall include a bank or

savings and loan association whose sale is arranged by the Federal Deposit

Insurance Corporation or similar agency in order to avoid failure.



5. The decision of the director of finance granting or denying any such

application may be appealed in the same manner as decisions by him pursuant

to section 362.040 may be appealed.



6. National banking associations located in Missouri shall have the same

but no greater right under or by virtue of this section as banks and trust

companies which are organized under Missouri law.



(L. 1959 H.B. 568 §§ 1, 2, A.L. 1971 S.B. 146, A.L. 1972 H.B. 1062,

A.L. 1978 S.B. 794, A.L. 1980 H.B. 1071, A.L. 1982 H.B. 1079, A.L.

1983 H.B. 565, A.L. 1985 S.B. 52 merged with H.B. 408, A.L. 1986

H.B. 1195 merged with S.B. 648, A.L. 1987 H.B. 426, A.L. 1990 H.B.

1456, A.L. 1991 H.B. 206, A.L. 2005 H.B. 707)





1991



1991



362.107. 1. Every bank and every trust company organized

under Missouri law may, upon compliance with this section,

establish, maintain and operate branches separate and apart from

the location designated in its articles of agreement.



2. No bank or trust company may establish, maintain or

operate any branch without having first obtained the approval of

the director of finance.



3. All those services which a bank or trust company is

authorized by law to provide may be provided at any of its

branches.



4. Whenever any bank or trust company desires to establish,

maintain and operate a branch, or to move a branch previously

established to another location, it shall apply to the director

of finance for such authority and provide the director of finance

with such relevant information as he may reasonably request. In

determining whether or not to approve the application, the

director of finance shall consider:



(1) The convenience, needs and welfare of the people of the

community and area to be served;



(2) The financial strength of the bank or trust company

making application for the branch in relation to the cost of

establishing, maintaining and operating the branch;



(3) Whether any other banks or trust companies will be

seriously injured by the approval of the application for the

branch; provided, however, any bank which purchases assets of a

bank or a failed savings and loan association closed by its

chartering authority, may establish, maintain and operate

branches at all locations which were operated by the closed bank

or failed savings and loan association. For purposes of this

section, the terms "closed bank" or "failed savings and loan

association" shall include a bank or savings and loan association

whose sale is arranged by the Federal Deposit Insurance

Corporation, Resolution Trust Corporation, or similar

organization in order to avoid failure.



5. The decision of the director of finance granting or

denying any such application may be appealed in the same manner

as decisions by him pursuant to section 362.040 may be appealed.



6. National banking associations located in Missouri shall

have the same but no greater right under or by virtue of this

section as banks and trust companies which are organized under

Missouri law.



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