Arkansas
State Bank Department
State Banking Board
Meeting Minutes for
March 22, 2007
(updated August 9, 2007)
A special meeting of the State Banking Board was held in
the conference room of the Arkansas State Bank Department, 400 Hardin Road,
Suite 100, Little Rock, Arkansas, at 10:00 a.m. on March 22, 2007. The following Board Members were present: Chairman David Short, Vice Chairman Elmer
Flucht, Margie Russ, Marcus McCain, and John Freeman. Representing the State
Bank Department were Commissioner Bunny Adcock, Deputy Commissioners Luther
Guinn and Candace Franks, Attorney Brent Taylor, Financial Analysts Susannah
Marshall and Cara Lank, and Administrative Assistants II Barbara Mahoney and
Devan Adair. Erica Gee was present from
the Attorney General’s office. David Smith with the
State Bank Commissioner, Bunny Adcock, called this special meeting of the State Banking Board. Notice of the special meeting was sent by regular mail to each member of the State Banking Board on February 13, 2007. The notice was also given to the news media in accordance with state law.
Commissioner Adcock opened the meeting. Secretary Luther Guinn declared a quorum was
present. Commissioner Adcock then turned the meeting over to Chairman David
Short.
Next on the agenda was consideration of
the Minutes of the February 15, 2007, Special Board Meeting. A motion was made by John Freeman, seconded
by Elmer Flucht, to approve the Minutes as presented. Motion carried and the Commissioner
concurred.
Next was
the approval of expenses for the Board.
A motion was made by Elmer Flucht, seconded by Margie Russ, to approve
the Board’s expenses. Motion carried and
the Commissioner concurred.
The
next item on the agenda was a proposed regulation to reduce the fees on a
branch bank purchase and assumption application for less than a majority of
assets to $300.00 pursuant to A.C.A. § 23-46-404. After general discussion, a motion was made
by John Freeman, seconded by Marc McCain, to approve the regulation. Motion carried and the Commissioner
concurred.
The next
item on the agenda was a proposed regulation to increase the application fees
for a change in control application to $5,000.00 pursuant to A.C.A. § 23-46-404. After general discussion, a motion was made by
Marc McCain, seconded by Elmer Flucht, to approve the regulation. Motion carried and the Commissioner
concurred.
The next
item on the agenda was a proposed regulation for adjudicative hearings before
the State Bank Board and the Commissioner pursuant to A.C.A. § 23-46-406. After general discussion, a motion was made
by Elmer Flucht, seconded by Margie Russ, to approve the regulation. Motion carried and the Commissioner
concurred.
The next
item on the agenda was a proposed regulation to define “Healthy Bank” pursuant
to A.C.A. § 23-48-701. After general
discussion, a motion was made by Marc McCain, seconded by John Freeman to
approve the regulation. Motion carried
and the Commissioner concurred.
The next
item on the agenda was a proposed regulation to revise procedures on existing
branch bank relocations pursuant to A.C.A. § 23-48-702. After general discussion a motion was made by
John Freeman, seconded by Margie Russ, to approve the regulation. Motion carried and the Commissioner
concurred.
The next
item in the agenda was a proposed regulation to revise procedure on existing
short distance branch bank relocations pursuant to A.C.A. § 23-48-702. After general discussion, a motion was made
by Elmer Flucht, seconded by David Short, to approve the regulation. Motion carried and the Commissioner
concurred.
The next
item on the agenda was a proposed regulation to revise the procedures on a
limited purpose office pursuant to A.C.A. § 23-48-702. After general discussion, a motion
was made by Marc McCain, seconded by John Freeman, to
approve the regulation. Motion carried
and the Commissioner concurred.
The next
item on the agenda was a proposed regulation to provide for expedited, standard
and mobile branch application process, notice procedures, and application fees
pursuant to A.C.A. § 23-48-703. After
general discussion, a motion was made by Elmer Flucht, seconded by David Short,
to approve the regulation. Motion
carried and the Commissioner concurred.
The next item on the agenda was a
proposed regulation for mobile branch pursuant to A.C.A. § 23-48-701 and
23-48-703. After general discussion, a
motion was made by John Freeman, seconded by Marc McCain, to approve the
regulation. Motion carried and the
Commissioner concurred.
The next
item on the agenda was a proposed regulation to provide procedures for filing
official protest to an application pursuant to A.C.A. § 23-48-703. After general discussion, a motion was made
by Elmer Flucht, seconded by Margie Russ, to approve the regulation. Motion carried and the Commissioner
concurred.
The next
item on the agenda was a proposed regulation for a technical revision to
regulations for a bank trust department pursuant to A.C.A. § 23-47-701. After general discussion, a motion was made
by Marc McCain, seconded by John Freeman, to approve the regulation. Motion carried and the Commissioner
concurred.
A motion
was made by Marc McCain, seconded by
Margie Russ, for a Resolution from the Board to recognize Charles
Mazander for his service to the Board [see copy appendage to these minutes] Motion carried and the Commissioner
concurred. No further business, the
meeting adjourned.
