Clarifies requirements for out-of-state banks merging with West Virginia banks, including compliance with state laws and capital requirements.

West Virginia HB4789 amends Section 31A-8D-4 of the Code of West Virginia to clarify the conditions for interstate bank mergers. It mandates that out-of-state banks confirm compliance with state laws, including consumer protection laws, and meet capital requirements if they acquire a West Virginia state-chartered bank. The bill also specifies that the commissioner calculates the acquisition deposit limitation based on the most recent reports filed with state or federal authorities.

Clarifies requirements for out-of-state banks merging with West Virginia banks, including compliance with state laws and capital requirements.

West Virginia HB4789 amends Section 31A-8D-4 of the Code of West Virginia to clarify the conditions for interstate bank mergers. It mandates that out-of-state banks confirm compliance with state laws, including consumer protection laws, and meet capital requirements if they acquire a West Virginia state-chartered bank. The bill also specifies that the commissioner calculates the acquisition deposit limitation based on the most recent reports filed with state or federal authorities.