362.107. Branch banking allowed, requirements — director of finance to approve, appeals. — 1. Every bank and every trust company organized under Missouri law may, upon compliance with this section, establish, maintain and operate branches separate and apart from the location designated in its articles of agreement.
2. No bank or trust company may establish, maintain or operate any branch without having first obtained the approval of the director of finance; provided that a drop box for deposit purposes shall not be considered a branch.
3. All those services which a bank or trust company is authorized by law to provide may be provided at any of its branches.
4. Whenever any bank or trust company desires to establish, maintain and operate a branch, or to move a branch previously established to another location, it shall apply to the director of finance for such authority and provide the director of finance with such relevant information as he may reasonably request. In determining whether or not to approve the application, the director of finance shall consider:
(1) The convenience, needs and welfare of the people of the community and area to be served;
(2) The financial strength of the bank or trust company making application for the branch in relation to the cost of establishing, maintaining and operating the branch;
(3) Whether any other banks or trust companies will be seriously injured by the approval of the application for the branch; provided, however, any bank which purchases assets of a closed bank or a failed savings and loan association closed by its chartering authority may establish, maintain and operate branches at all locations which were operated by the closed bank or failed savings and loan association. For purposes of this section, the terms "closed bank" or "failed savings and loan association" shall include a bank or savings and loan association whose sale is arranged by the Federal Deposit Insurance Corporation or similar agency in order to avoid failure.
5. The decision of the director of finance granting or denying any such application may be appealed in the same manner as decisions by him pursuant to section 362.040 may be appealed.
6. National banking associations located in Missouri shall have the same but no greater right under or by virtue of this section as banks and trust companies which are organized under Missouri law.
Notes of Decisions
Bank of Crestwood v. Gravois Bank, 616 S.W.2d 505 (Mo. 1981).
· cites it 55× “The application of the Gravois Bank satisfies the statutory criteria set forth in Section 362.107, RSMo. Supp. 1975, and therefore, Certificate of Authority No.”
Bank of Belton v. State Banking Bd., 554 S.W.2d 451 (Mo. Ct. App. 1977).
· cites it 21× “That attempt at review was also dismissed *453 on the grounds (1) that the Bank of Belton, as a mere competitor of bank facility granted UMB lacked standing to maintain an appeal before the circuit court, and (2) the Banking Board was without authority under § 362.107 to review…”
Farmer's Bank of Antonia v. Kostman, 577 S.W.2d 915 (Mo. Ct. App. 1979).
· cites it 19× “Loans may be made at any facility operated under the provisions of this section or under the provisions of section 362.107. [Emphasis added.] The interest alleged by the petition for review of the administrative action is that Farmers Bank operates a bank facility at Imperial in…”
Bank of Crestwood v. State Banking Bd., 554 S.W.2d 519 (Mo. Ct. App. 1977).
· cites it 9× “Upon application pursuant to § 362.107 RSMo. Supp. 1975, the Commissioner of Finance 1 of Missouri had issued Gravois Bank a certificate of authority to operate and maintain a separate drive-in and walk-up banking facility on Gravois Road in St.”
Harkey v. Mobley, 552 S.W.2d 79 (Mo. Ct. App. 1977).
“1 In July 1972 the Senath bank applied to and in September 1972 received from the director of finance authority to operate and maintain a separate banking facility at Ar-byrd for the limited purposes specified in § 362.107, V.A.M.S. Albeit there was “street talk” in Cardwell in…”
Indep. Bankers Ass'n of Am. v. Clarke, 716 F. Supp. 1238 (W.D. Mo. 1989).
· cites it 4× “1(1) states in relevant part that: “No bank or trust company shall maintain in this state a branch bank or trust company, or receive deposits or pay checks except in its own banking house or as provided in Section 362.107.” Section 362.107 provides that a bank located outside of…”
State of Mo., Etc. v. First Nat. Bank, Etc., 405 F. Supp. 733 (E.D. Mo. 1975).
· cites it 3× “Section 362.107, RSMo 1969, provides that a bank may operate two facilities on approval of the Finance Commissioner within the same city, town, village, or unincorporated community in which its banking house is located.”
St. Louis Union Trust Co. v. Pemberton, 494 S.W.2d 408 (Mo. Ct. App. 1973).
· cites it 2× “: “ * * * provided, however, that no bank or trust company shall maintain in this state a branch bank or trust company, or receive deposits or pay checks except in its own banking- house or as provided in section 362.107.” Sec. 362.107, as presently enacted, prohibits a bank or…”
St. Louis Cty. Nat. Bank v. Mercantile Trust, Etc., 420 F. Supp. 510 (E.D. Mo. 1976).
· cites it 6× “, expressly prohibits a bank or trust company from maintaining a branch bank or trust company or receiving deposits or cashing checks except in its own banking house or as provided in Section 362.107, R.S.Mo. 5. There is no statute in Missouri which affirmatively authorizes a…”
Oakville Bank & Trust Co. v. Lemay Bank & Trust Co., 628 S.W.2d 350 (Mo. Ct. App. 1981).
· cites it 4× “It further determined that the Lemay Bank was not located in the unincorporated community of Oakville and that therefore the Board’s order was unauthorized by law and unsupported by competent and substantial evidence under the provisions of § 362.107, RSMo 1978, which prohibited…”
— Mo. Rev. Stat. § 362.107(1) — 1 case
Bank of Belton v. State Banking Bd., 554 S.W.2d 451 (Mo. Ct. App. 1977).
“That attempt at review was also dismissed *453 on the grounds (1) that the Bank of Belton, as a mere competitor of bank facility granted UMB lacked standing to maintain an appeal before the circuit court, and (2) the Banking Board was without authority under § 362.107 to review…”
— Mo. Rev. Stat. § 362.107(2)(1) — 1 case
Bank of Belton v. State Banking Bd., 554 S.W.2d 451 (Mo. Ct. App. 1977).
“That attempt at review was also dismissed *453 on the grounds (1) that the Bank of Belton, as a mere competitor of bank facility granted UMB lacked standing to maintain an appeal before the circuit court, and (2) the Banking Board was without authority under § 362.107 to review…”
— Mo. Rev. Stat. § 362.107(3) — 1 case
Bank of Belton v. State Banking Bd., 554 S.W.2d 451 (Mo. Ct. App. 1977).
“That attempt at review was also dismissed *453 on the grounds (1) that the Bank of Belton, as a mere competitor of bank facility granted UMB lacked standing to maintain an appeal before the circuit court, and (2) the Banking Board was without authority under § 362.107 to review…”
— Mo. Rev. Stat. § 362.107(3)(3) — 1 case
Bank of Belton v. State Banking Bd., 554 S.W.2d 451 (Mo. Ct. App. 1977).
“That attempt at review was also dismissed *453 on the grounds (1) that the Bank of Belton, as a mere competitor of bank facility granted UMB lacked standing to maintain an appeal before the circuit court, and (2) the Banking Board was without authority under § 362.107 to review…”
— Mo. Rev. Stat. § 362.107(4) — 1 case
Bank of Belton v. State Banking Bd., 554 S.W.2d 451 (Mo. Ct. App. 1977).
“That attempt at review was also dismissed *453 on the grounds (1) that the Bank of Belton, as a mere competitor of bank facility granted UMB lacked standing to maintain an appeal before the circuit court, and (2) the Banking Board was without authority under § 362.107 to review…”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.