Regulatory Alerts2026-05-08 | Corporate Decision 1374Added
Corporate Decision 1374 — Application to charter Augustus National Bank, National Association, Dallas, TX
The Office of the Comptroller of the Currency grants preliminary conditional approval for the charter of Augustus National Bank, National Association, in Dallas, Texas, and waives citizenship and residency requirements for specific proposed directors. The approval imposes conditions including a minimum tier 1 leverage ratio of 10.0 percent for the first three years, a requirement to notify the OCC sixty days prior to significant business plan deviations, and mandatory compliance with the GENIUS Act. Final authorization to open requires meeting preopening standards, including an initial paid-in capital of at least $52.5 million, independent audits, and security program reviews, with the approval expiring if the bank does not open within eighteen months.