12 C.F.R. § 563b.630 When is a state-chartered savings bank eligible for a voluntary supervisory conversion?
Title 12 - Banks and Banking
If you are a state-chartered savings bank you may be eligible to convert to a federal stock savings bank under this subpart if: (a) FDIC certifies under section 5(o)(2)(C) of the HOLA that severe financial conditions threaten your stability and that the voluntary supervisory conversion is likely to improve your financial condition, and OTS concurs with this certification; or (b) You meet the following conditions: (1) Your liabilities exceed your assets, as calculated under generally accepted accounting principles, assuming you are a going concern; and (2) You will issue a sufficient amount of permanent capital stock to meet your applicable FDIC capital requirement immediately upon completion of the conversion, or FDIC determines that you will achieve an acceptable capital level within an acceptable time period. [67 FR 52020, Aug. 9, 2002, as amended at 71 FR 19811, Apr. 18, 2006]
Title 12: Banks and Banking
PART 563b—CONVERSIONS FROM MUTUAL TO STOCK FORM
Subpart B—Voluntary Supervisory Conversions
Eligibility
§ 563b.630 When is a state-chartered savings bank eligible for a voluntary supervisory conversion?
