Regulatory Alerts2026-04-24 | Corporate Decision 1372Added
Corporate Decision 1372 — Application to charter Mercury Bank, National Association, Salt Lake City, UT
The Office of the Comptroller of the Currency grants preliminary conditional approval for the de novo charter of Mercury Bank, National Association, in Salt Lake City, Utah, and approves residency waivers for its board. The approval is subject to conditions including a minimum Tier 1 leverage ratio of 10.0 percent for the first three years, prior OCC notification for significant business plan deviations, and written no-objection letters for senior executive and director appointments for the first two years. Final authorization to open requires meeting preopening requirements such as an initial paid-in capital of at least $300 million, independent audits, and compliance with security and policy standards, with the approval expiring if the bank does not open within 18 months.