HARRY HUGHES, Governor                                      1561

(I) CONSIDER SPECIFIC STEPS THAT WILL BE TAKEN
TO MEET THE CREDIT NEEDS OF SMALL BUSINESSES AND INDIVIDUALS IN
THE COMMUNITY TO BE SERVED, INCLUDING LOW AND MODERATE INCOME
RESIDENTS CONSISTENT WITH SAFE AND SOUND OPERATION OF THE
INSTITUTION; AND

(II) ASSESS THE RECORD, IF ANY, OF THE
APPLICANT IN MEETING THE CREDIT NEEDS OF THE COMMUNITIES SERVED
IN THE PAST, INCLUDING SMALL BUSINESSES IN THE COMMUNITY SERVED
AND LOW AND MODERATE INCOME RESIDENTS, CONSISTENT WITH THE SAFE
AND SOUND OPERATION OF THE INSTITUTION.

(B) (1) AN OUT-OF-STATE BANK HOLDING COMPANY HAVING A
MARYLAND BANK SUBSIDIARY OR MARYLAND BANK HOLDING COMPANY
SUBSIDIARY THAT WAS NOT ACQUIRED BY IT IN ACCORDANCE WITH §
5-1004(B)(2) OF THIS SUBTITLE IS AUTHORIZED TO ACQUIRE ANOTHER
MARYLAND BANK OR MARYLAND BANK HOLDING COMPANY UPON APPROVAL BY
THE COMMISSIONER.

(2) THE COMMISSIONER MAY NOT GRANT APPROVAL OF AN
ACQUISITION UNDER THIS SUBSECTION UNLESS THE COMMISSIONER SHALL
FIND THAT THE OUT-OF-STATE BANK HOLDING COMPANY SEEKS TO ACQUIRE:

(I)  A DE NOVO MARYLAND BANK THAT:

1.  HAS OR WILL HAVE ON THE DATE BANKING
BUSINESS IS COMMENCED IN THIS STATE A MINIMUM CAPITAL STOCK AND
PAID-IN SURPLUS OF $10,000,000 AND WILL HAVE WITHIN 1 YEAR OF THE
DATE BANKING BUSINESS IS COMMENCED IN THIS STATE A MINIMUM
CAPITAL STOCK AND PAID-IN SURPLUS OF $25,000,000;

2.  EMPLOYS ON THE DATE ITS BANKING
BUSINESS IS COMMENCED IN THIS STATE OR WILL EMPLOY WITHIN 1 YEAR
OF THAT DATE NOT LESS THAN 100 PERSONS IN THIS STATE; AND

3.   IS SOUGHT TO BE ACQUIRED BY AN
OUT-OF-STATE BANK HOLDING COMPANY HAVING ITS PRINCIPAL PLACE OF
BUSINESS IN A JURISDICTION PERMITTING MARYLAND BANK HOLDING
COMPANIES TO ACQUIRE A NEWLY ORGANIZED BANK LOCATED IN THAT
JURISDICTION THAT HAS NOT COMMENCED ANY PART OF ITS BANKING
BUSINESS; AND

4. HAS NOT BEEN CHARTERED PRIOR TO JULY
1, 1989;

(II)  A MARYLAND BANK THAT HAS BEEN IN EXISTENCE
AND CONTINUOUSLY OPERATED FOR MORE THAN 2 4 YEARS;

(III)  A MARYLAND BANK HOLDING COMPANY IN WHICH
ALL MARYLAND BANK SUBSIDIARIES HAVE BEEN IN EXISTENCE AND
CONTINUOUSLY OPERATED FOR MORE THAN 2 4 YEARS; OR

(IV)  AN OUT-OF-STATE BANK HOLDING COMPANY IN
WHICH ALL MARYLAND BANK SUBSIDIARIES HAVE BEEN IN EXISTENCE AND
CONTINUOUSLY OPERATED FOR MORE THAN 2 4 YEARS.