Bank and Trust Company Charter Applications

Applications for bank and trust company charters are provided for in Chapter III, Application Procedure for Financial Institution Charters, of the Rules and Regulations of the State Banking Board. After the commissioner determines an application submitted for a bank charter is complete, he conducts an investigation and examination of the application. His findings are presented at a public hearing, which is held on behalf of the application.

A public hearing is provided for in Chapter IV, Hearings for Charter Applications, of the Rules and Regulations of the State Banking Board. All hearings are conducted pursuant to the Wyoming Administrative Procedure Act, Wyoming Statute 16-3-101 through 16-3-115. The Board, within 90 days after receipt of the transcript of the public hearing, approves, conditionally approves or disapproves applications for state bank charters. Before approving an application, the Board must ascertain that the following conditions are met:

  • Public need and convenience will be promoted by the establishment of the proposed financial institution;

  • Conditions in the community in which the proposed financial institution would transact business afford reasonable promise of successful operation;

  • Financial institution is being formed for no other purpose than the legitimate objects contemplated by the laws of the state;

  • Proposed capital and surplus are not less than the required minimum and are adequate in light of current and prospective conditions;

  • Proposed officers and directors have sufficient experience, ability and standing to afford reasonable promise of successful operation;

  • Name of the proposed financial institution does not resemble so closely as to cause confusion the name of any other financial institution transacting business in the county;

  • Applicants have complied with all applicable provisions of law.


Charter Application Timeline

      1. Application received in office of State Banking Commissioner.

      2. Within 30 days of receipt of application, the commissioner will notify the applicant in writing of any deficiencies or that the application has been accepted for filing.

      3. Once the application is deemed complete and is accepted for filing by the commissioner, he will notify the chairman of the State Banking Board (board) who then establishes the time and place for the public hearing (not less than 60 days nor more than 120 days from the date the application is accepted for filing).

      4. Within 30 days after receipt of the notice of the time and place of the hearing, the applicant shall publish notice of the application and public hearing in a newspaper of general circulation within the county where the proposed financial institution is to be located. Publication shall be made once a week for 3 consecutive weeks prior to the hearing. The applicant shall furnish proof of publication to the commissioner prior to the hearing.

      5. The public hearing is held.

      6. Within 90 days after receipt of the transcripts of the public hearing, the board issues its approval, conditional approval or disapproval of the application.


  • If the board approves the application, the commissioner shall file the articles of incorporation within 20 days of the board’s decision.

  • If the board conditionally approves the application, the commissioner will file the articles of incorporation within 20 days of the applicant’s compliance with the board’s instructions.

  • If the board disapproves the application, the commissioner shall mail notice of the disapproval to the applicants within 20 days after the board’s decision.


Certificate of Authority

      1. Upon approval of the charter application and granting of the charter by the board, the applicant shall apply to the commissioner for a certificate of authority prior to commencing business.

      2. The commissioner shall approve or deny the application for a certificate of authority within 30 days of receipt of the application.

  • If the application is approved, the commissioner shall issue a certificate of authority within 20 days of his decision.

  • If the application is denied, the commissioner shall mail a notice of denial within 20 days of his decision.

      1. If the application is denied, the organizers have 90 days to resubmit the application for a certificate of authority with the necessary corrections.

May 24, 2012