Ohio § 1115.05

§ 1115.05.

(A) As used in this section: (1) “ Acquire ” or “ acquisition ” means any of the following transactions or actions: (a) A merger or consolidation with, or purchase of assets from, a bank holding company

that has acquired an Ohio bank; (b) The acquisition of the direct or indirect ownership or control of voting shares of

an Ohio bank if, after the acquisition, the acquiring bank holding company will directly

or indirectly own or control the Ohio bank, unless the superintendent of financial

institutions determines, in the superintendent's discretion, due to the nature of

the acquisition, it should not be subject to the limitations of this section; (c) The merger or consolidation of an Ohio bank with, or the transfer of assets from

an Ohio bank to, another bank, whether previously existing or chartered for the purpose

of the transaction; (d) Any other action that results in the direct or indirect control of an Ohio bank. (2) “ Ohio bank ” means a state bank or a national bank whose principal place of business is in this

state. (B) Subject to division (C) of this section, a bank, bank holding company, federal savings

association, or savings and loan holding company whose principal place of business

is in this state or any other state may charter or otherwise acquire an Ohio bank,

and a bank may acquire banking offices in this state by merger or consolidation with

or transfer of assets and liabilities from a bank, savings bank, or savings association

that has offices in this state, if, upon consummation of the acquisition, both of

the following will apply: (1) The acquiring bank, bank holding company, federal savings association, or savings

and loan holding company, with or through its affiliate banks, savings banks, and

savings associations, does not control more than ten per cent of the total deposits

of banks, savings banks, and savings associations in the United States, and either

of the following applies: (a) The acquiring bank, acquiring bank holding company, federal savings association,

or savings and loan holding company, with or through its affiliate banks, savings

banks, and savings associations, does not control more than thirty per cent of the

total deposits of banks, savings banks, and savings associations in this state. (b) The acquiring bank, acquiring bank holding company, federal savings association,

or savings and loan holding company, with or through its affiliate banks, savings

banks, and savings associations, controls more than thirty per cent of the total deposits

of banks, savings banks, and savings associations in this state, and the superintendent

approved the acquisition after determining the anticompetitive effects of the acquisition

were clearly outweighed in the public interest by the probable effect of the transaction. (2) Except in the case of a foreign bank subject to Chapter 1119. of the Revised Code

or a bank that by the terms of its articles of incorporation or association is not

permitted to solicit or accept deposits other than trust funds, the Ohio bank or any

bank that has banking offices in this state will be an insured bank as defined in

section 3(h) of the “Federal Deposit Insurance Act,” 92 Stat. 614 (1978), 12 U.S.C.A. 1813(h) . (C)(1) Any bank holding company proposing to charter a state bank under this section shall

comply with Chapter 1113. or 1114. of the Revised Code and any rules adopted to implement

that chapter. (2) If, after the proposed acquisition, the acquiring bank or bank holding company will

control an existing state bank the acquiring bank or bank holding company did not

control before the acquisition, and the acquisition does not include the merger or

consolidation of the existing state bank with another bank, the acquiring bank or

bank holding company shall comply with section 1115.06 of the Revised Code and any rules adopted to implement that section. (3) If the proposed acquisition will be accomplished by means of a merger or consolidation

with a state bank and the resulting bank of the merger or consolidation will be a

state bank, the state bank shall comply with section 1115.11 of the Revised Code and any rules adopted to implement that section. (4) If the proposed acquisition will be accomplished by means of a transfer of assets

and liabilities to a state bank, the state bank shall comply with section 1115.14 of the Revised Code and any rules adopted to implement that section. (5) If the proposed acquisition will be accomplished by forming a bank to which the bank

to be acquired will transfer assets and liabilities, or with which the bank to be

acquired will be merged or consolidated and the resulting bank will be a state bank,

the acquiring bank holding company shall comply with section 1115.23 of the Revised Code and any rules adopted to implement that section.