Charter Conversion

WEST VIRGINIA STATE BANKING CODE CHAPTER 31A, Article 4A, and Article 7, Section 7, state that a national bank may apply to the West Virginia Board of Banking and Financial Institutions for permission to convert to a state chartered bank.

No conversion will be permitted if the bank's financial condition is of supervisory concern or if it appears that the conversion is a means to avoid supervisory action by the bank's current banking regulator. The West Virginia Board of Banking and Financial Institutions meets quarterly on the second Monday of March, June, September and December. The application for conversion should be submitted ninety days prior to the Board's meeting. The staff of the Division of Banking strongly encourages institutions to arrange pre-filing conferences to discuss details of the conversion process prior to filing an application.

The following documents are available to provide information on converting a national bank to West Virginia State chartered bank. These documents are viewable with Microsoft Word Viewer or Adobe Acrobat.

Charter Conversion Process

An application must also be filed with the primary federal regulator. All applications filed with federal regulators must also be filed with the West Virginia Division of Banking in duplicate original.

Questions regarding this application procedure may be directed to Commissioner Sally Cline.