West Virginia SB574: Relating to bank merger by interstate branching

What the bill says

An act to amend and reenact §31A-8D-4 of the Code of West Virginia, 1931, as amended, relating to bank merger by interstate branching; and providing clarity regarding the disclosure required when an out-of-state bank acquires a West Virginia state-chartered bank. ARTICLE 8D. INTERSTATE BRANCHING BY BANK MERGERS. §31A-8D-4. Interstate merger transactions and branching involving out-of-state banks permitted. (a) Beginning on May 31, 1997, one or more West Virginia banks may enter into an interstate merger transaction with one or more out-of-state banks under this article, and an out-of-state ban.

From the enrolled text, March 12, 2026:

AN ACT to amend and reenact §31A-8D-4 of the Code of West Virginia, 1931, as amended, relating to bank merger by interstate branching; and providing clarity regarding the disclosure required when an out-of-state bank acquires a West Virginia state-chartered bank. ARTICLE 8D. INTERSTATE BRANCHING BY BANK MERGERS. §31A-8D-4. Interstate merger transactions and branching involving out-of-state banks permitted. (a) Beginning on May 31, 1997, one or more West Virginia banks may enter into an interstate merger transaction with one or more out-of-state banks under this article, and an out-of-state bank resulting from such transaction may maintain and operate the branches and offices in West Virginia of a West Virginia bank that participated in such transaction: Provided, That the conditions and filing requirements of this article are met. (b) A merger transaction shall not be permitted under this article if, upon consummation of such transaction, the resulting bank (including all insured depository institution affiliates of the resulting bank) would assume sufficient additional deposits to cause it to control deposits in this state in excess of that allowed by §31A-2-12a of this code: Provided, That the commissioner may by rule adopt a procedure whereby said acquisition deposit limitation as set forth in this code may be waived for good cause shown. The commissioner shall calculate the acquisition deposit limitation based upon the most …

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