Nonobjection to Charge Prepayment Penalties in Parity

MARI<IT SQUARE PLAZA / 17 N SECOI.IO STREET. 13'* FL I HAHRISUURG. PA 17101 717.Y87.2665 737787.8773 5 wc~~,trank~nr~.~la~c.p~.ui. Dear This letter I-esuonds lo the Bank Parity and S~tbsidiary Notice (the "Notice") )'nu subnlitted on behalf of (the "Ballk"), a Pennsyl~ania srate-chartered bank, to the Conlmonwcalth of Pellnsyl\rania De11ai-riilent of Banking (tile "DeparLment") regarding the Bank's proposal to ilnpose fees fir, or in connection with, the prepayment of loans in parity with the ability of federal savin_es associatiolls undei- the Federal Home O<!nei,s Loan Act, pursuant to
Section 20l(c)(ii) of the Pennsylvania Banking Code of 1965, 7 P.S. $ 20l(c)(ii). Specifically,
the Bank intends to utilize 12 U.S.C. 1464(c) and Office of Thrift Sul~ervision re~ulalions applicable to fedel-al savings associalions at 12 C.F.R. 48 560.34 and 560.2(L)(5) asthe authority for the imposiriol~ of these fees. Please be advised that tlle Departm~nt does not object to the Bai~k ilposing prepa)lment fees pursuan[ to the above-noted sratutory and ~,egulatol-y authority: pursuant to Section 70I(c)(ii) of the Pe~ms)~Ivania Ba~drig Code of 1965. Tile Department's non-objection is based upon the facts and I-eprescntations as slated in the Notice pro~rided to the Departmenl. An) changes ill the facts could resul[ in an amei~dmcnt or reversal of tlie depart men^'^ nnn-ol~jection. I trust Lhis let~er is responsi~e to your requesl. Please contact loscph A. I\loretz, h4anager or Colporate Applications, of this office shonld yo11 requil-e additio~~al explanation or infol-nlation regarding this matter. Very truly yours, Timothy J. Blase Director - Bureau of Sul)ervision and Enforcemen1