Regulatory Alerts2004-05-13
Non-Objection to Bank Premises Investment for Pennsylvania State-Chartered Bank
The Pennsylvania Department of Banking issued a non-objection letter to a state-chartered bank regarding its proposal to invest in bank premises under federal parity authority. The Department approved the investment based on the bank's representations, noting that any factual changes could lead to an amendment or reversal of this decision. The bank remains required to obtain prior Department approval for establishing, relocating, or discontinuing branch offices under Chapter 9 of the Banking Code of 1965.
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