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Interpretations and Actions: March 2010

Vol. 23, No. 3

Interpretive Letters

Letter No. Topic
1125 (PDF) Letter concludes that a national bank that has elected Tennessee law as its corporate governance process under 12 C.F.R. § 7.2000(b) may reclassify common stock held by the bank's shareholders into new classes of preferred stock in accordance with Tennessee law. Before effecting the share reclassification, the bank must file an application under 12 C.F.R. § 5.46 and receive the OCC's approval. 02/11/2009

Corporate Decisions

Letter No. Topic
2010-07 (PDF) Application by FirstMerit Bank, National Association, Akron, Ohio to purchase certain assets of and assume certain liabilities of George Washington Savings Bank, Orland Park, Illinois ("Failed Entity") (Control Number 2010-CE-02-002), 02/19/2010
2010-08 (PDF) Application by Community National Bank, Hondo, Texas to purchase certain assets of and assume certain liabilities of La Coste National Bank, La Coste, Texas ("Failed Entity") (Control Number 2010-SO-02-0002), 02/19/2010

Approvals with Conditions Enforceable under 12 U.S.C. 1818

Letter No. Topic
946 (PDF) Application by Baytree National Bank & Trust Company, Lake Forest, Illinois, requesting approval for the establishment of a new operating subsidiary, Baytree Managed Assets, LLC, Lake Forest, Illinois ("LLC"), to hold and manage substantially all of the Bank's impaired loans and other real estate owned ("OREO") assets (Control Number 2009 WO 08 0002), 01/25/2010
947 (PDF) Application by Gold Country Bank, National Association, Marysville, California to establish a branch at 980 9th Street, Suite 10, Sacramento, California (Control Number 2009 WE 05 0047), 02/04/2010
948 (PDF) Application to establish a new national bank with the title of NBH National Bank (Control Number 2009 WO 01 0023), 02/24/2010

Final Enforcement Actions

Enclosed is a copy of the OCC's news release number 2010-34, announcing the availability of enforcement actions. Copies of the final actions are available by writing to the OCC, Communications Division, Mail Stop 2-3, Washington, D.C. 20219. You may also submit your request electronically through the OCC's online FOIA site or fax your request to (202)-874-5274. When ordering, specify the appropriate enforcement action number.

Community Reinvestment Act (CRA) Performance Evaluations

Enclosed is a list of CRA performance evaluations that became public during the period of February 15, 2010 through March 14, 2010.

PLEASE NOTE: Interpretive Letters and No-Objection Letters reflect the views of the Comptroller's legal staff. Corporate Decisions, CRA Decisions and Conditional Approvals are from the office of Licensing Activities. The Community Development Investment Letters are from the office of Community Affairs. The list of CRA Ratings is from the Communications Division. For copies of the CRA evaluations, you may either contact the bank directly, or you may write to the Office of the Comptroller of the Currency (OCC) in any of three ways: by mail to the OCC, Attn: Communications Division, Mail Stop 2-3, Washington, D.C. 20219; by fax to (202) 874-5274; or electronically at the OCC's online FOIA site. You may also write to the OCC for copies of enforcement actions and charters with standard conditions.

Members of the news media are encouraged to cite the letter number when reporting or summarizing documents from this package. This helps us to process single requests based upon your citation in a timelier manner.

The Office of the Comptroller of the Currency publishes INTERPRETATIONS AND ACTIONS monthly. Subscriptions are available at a rate of $200 per year by writing to the Comptroller of the Currency, ATTN: Financial Management, Accounts Receivable, Mail Stop FM-2, Washington, DC 20219. Prepayment is requested. Suggestions, comments or questions may be sent to Jacqueline J. England, Comptroller of the Currency, Communications Division, Mail Stop 2-3, Washington, DC 20219.