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Letter Applications
Notice of Intent to Establish a Bank Branch
Pursuant to Section 5(15) of the Illinois Banking Act and Title 38 Illinois Administrative Code, Section 305.20, a bank seeking to establish or relocate a bank branch shall file with the Department a copy of the application made to their appropriate federal banking agency. The letter, along with a non-refundable filing fee, must be submitted at least 30 calendar days before the branch begins operations.
Notice of Intent to Conduct Transactions at Affiliate Facility
Pursuant to Section 5(23) of the Illinois Banking Act, a bank seeking to conduct or to authorize a commonly owned bank to conduct transactions at an affiliate facility shall submit a letter to the Department identifying the transaction to be conducted, the commonly owned bank, and the facility where the transaction will be conducted. The letter must be submitted at least 30 days before any transaction is conducted at the affiliate facility.
Application to Acquire Shares of Stock of a Bankers’ Bank
Pursuant to Section 5c of the Illinois Banking Act, a bank seeking to acquire shares of a bankers’ bank shall submit a letter to the Department indicating the name of the bankers’ bank, the number of shares to be purchased, and the amount of the investment.
Notice of Change of Bank Name
Pursuant to Section 13 of the Illinois Banking Act, a bank seeking to change its name shall submit a letter, at least 30 days prior to the name change, informing the Department of the new name and the date on which the name change is to take effect.
Application for Change in Legal Number of Directors
Pursuant to Section 16(2)(b) of the Illinois Banking Act, a bank seeking to have less than 5 directors shall submit a letter to the Department indicating the proposed number of directors and identifying at least one director who is not an officer or employee of the bank.
Application to Reduce the Number of Authorized Board Meetings
Pursuant to Section 16(4) of the Illinois Banking Act, a bank seeking to hold less than monthly board meetings shall submit a letter to the Department indicating the number of board meetings they propose to have and a copy of the director’s resolution approving the reduced number of meetings. The non-refundable filing fee shall be submitted at the time of application.
Notice of Intent to Establish Additional Branches in IL – Out of State Banks
Pursuant to Section 21.1(e) of the Illinois Banking Act, an out of state bank seeking to establish additional branches in this State shall submit a letter indicating the address of the new branch and the date the branch is expected to begin operations, if such date is known. The letter must be mailed within 30 days after the appropriate federal banking agency approves such branch. If the Department receives notice of the establishment of the branch from the out of state bank’s chartering authority, the out of state bank is not required to send a notice.
