Bank holding companies wishing to acquire a West Virginia state chartered bank or bank holding company controlling a state chartered bank must make application to both the West Virginia Board of Banking and Financial Institutions and the Federal Reserve System through the appropriate Federal Reserve Bank.
Applications should be submitted to the West Virginia Division of Banking in final form at least 45 days prior to the next regularly scheduled meeting of the West Virginia Board of Banking. Board meetings are scheduled for the second Monday of each March, June, September and December. Additional meetings may be called or regular meetings rescheduled if necessary.
Specific instructions relating to the acquisition of a state chartered bank or bank holding company controlling a state chartered bank are provided in the following document.
Process to be Followed by Bank Holding Company Applicants
For transactions involving the acquisition of more than five percent but less than 25% of the entity, Applicants should review the information provided in the following document:
Process To Be Followed By Bank Holding Company Applicants When Purchasing More Than 5% But Less Than 25% Of A Bank's Stock (Assuming No Control)
Once the transaction has received approval from the West Virginia Board of Banking and Financial Institutions an ORDER communicating such approval will be issued to the Applicant. Applicants must then provide notice to the West Virginia Division of Banking of the actual consummation date. Such notice may be provided on the following form or in a letter providing the required information.
Bank Holding Company Acquisition Notification
Questions may be addressed to:
West Virginia Division of Financial Institutions
900 Pennsylvania Avenue
Suite 306
Charleston, West Virginia 25302
Or to
Dawn Holstein