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WV Code § 31A-8A-5 (2021)
2021 West Virginia Code|Chapter 31A. Banks and Banking|Article 8A. Acquisitions of Banks by Bank Holding Companies|§31A-8A-5. Standards for Approval

(a) In deciding whether to approve an application for a proposed acquisition under this article, the board shall consider whether the acquisition may:(1) Be detrimental to the safety and soundness of the West Virginia state bank or the West Virginia bank holding company to be acquired which controls a West Virginia state bank, or be contrary to the best interests of the customers or shareholders of the bank whose shares are affected by the action, taking into consideration the financial and managerial resources and further prospects of the company or companies and the banks concerned;(2) Result in a substantial reduction of competition in any section of this state, or result in a monopoly, or would be in furtherance of any combination or conspiracy to monopolize or to attempt to monopolize the business of banking in any section of this state;(3) Have a significantly adverse effect on the convenience and needs of the community or communities in this state that are served by the West Virginia state bank or the West Virginia bank holding company to be acquired; or(4) Violate the acquisition deposit limitation set forth in section three of this article.(b) The board shall not approve an application for, nor shall the commissioner consent to, an acquisition under this article unless the West Virginia bank to be acquired, or all West Virginia bank subsidiaries of the bank holding company to be acquired, have as of the proposed date of acquisition been in existence and in continuous operation for more than two years: Provided, That this limitation shall not apply to acquisitions made on or after May 31, 1997.(c) The board may approve an application which may lessen competition if the anticompetitive effects of the proposed action are clearly outweighed in the public interest by the probable effect of the action in meeting the convenience and needs of the community to be served.(d) In deciding whether to approve an application for an acquisition under this article, the board shall consider the applicant's record of compliance with all applicable state(s) and federal community reinvestment laws.
WV Code § 31A-8A-6 (2021)
2021 West Virginia Code|Chapter 31A. Banks and Banking|Article 8A. Acquisitions of Banks by Bank Holding Companies|§31A-8A-6. Procedures Relating to Applications

(a) The board shall decide whether to approve an acquisition under this article within one hundred twenty days after receipt of a completed application: Provided, That if the board or commissioner requests additional information from the applicant following receipt of a completed application, the time limit for decision by the board shall be the later of:(i) The date set forth above in this subsection; or(ii) Thirty days after the board's or commissioner's receipt, whichever is applicable, of the requested additional information.(b) The board shall, in accordance with its rules, hold a public hearing in connection with an application and determine any significant issue of law or fact raised with respect to the proposed acquisition relevant and necessary for proper disposition of the application.(c) If the board holds a full public hearing under the provisions set forth in article five, chapter twenty-nine-a of this code in connection with an application, the time limit specified in subsection (a) of this section shall be extended to the later of thirty days after the conclusion of the public hearing or thirty days after submission of all documents and materials necessary for proper adjudication of the matter, including transcripts.(d) An application shall be deemed approved if the board takes no action on the application within the time limits specified in this section.
WV Code § 31A-8A-8 (2021)
2021 West Virginia Code|Chapter 31A. Banks and Banking|Article 8A. Acquisitions of Banks by Bank Holding Companies|§31A-8A-8. Authority to Issue Rules; Cooperative Agreements; Fees

In order to carry out the purposes of this article, the Commissioner may:(1) Propose rules and issue orders;(2) Enter into cooperative, coordinating or information-sharing agreements with any other bank supervisory agency or any organization affiliated with or representing one or more bank supervisory agencies;(3) Accept any report of examination or investigation by another bank supervisory agency having concurrent jurisdiction over a West Virginia bank or a bank holding company that controls a West Virginia state bank in lieu of conducting the Commissioner's own examination or investigation of the bank holding company or bank;(4) Enter into contracts with any bank supervisory agency having concurrent jurisdiction over a West Virginia state bank or a bank holding company that controls a West Virginia state bank to engage the services of the agency's examiners at a reasonable rate of compensation, or to provide the services of the Commissioner's examiners to any bank supervisory agency at a reasonable rate of compensation: Provided, That any contract for examiners shall be excluded from the requirements of article three, chapter five-a of this code;(5) Enter into joint examinations or joint enforcement actions with any other bank supervisory agency having concurrent jurisdiction over any West Virginia state bank or any bank holding company that controls a West Virginia state bank: Provided, That the Commissioner may take any such action independently if he or she determines that the action is necessary to carry out the responsibilities set forth in this article to enforce compliance with the laws of this state: Provided, however, That in the case of an out-of-state bank holding company, the Commissioner shall recognize the authority of the home state regulator over corporate governance matters and the primary responsibility of the home state regulator with respect to safety and soundness matters; and(6) Assess supervisory and examination fees that shall be payable by any bank holding company operating a bank or bank branch in West Virginia in connection with the Commissioner's performance of his or her duties under this article. The Commissioner shall charge and collect from each bank holding company and pay into a special revenue account in the state Treasury for the Department of Banking an annual assessment payable on January 15, computed on total deposits in this state of the bank holding company as of June 30 of the previous year as is set out in section eight, article two of this chapter. The payment of the assessment fee shall be accompanied by the report prescribed by the Commissioner under subsection (a), section seven of this article. Examination fees may be shared with other bank supervisory agencies or organizations affiliated with or representing one or more bank supervisory agencies in accordance with agreements between them and the Commissioner.
WV Code § 31A-8A-9 (2021)
2021 West Virginia Code|Chapter 31A. Banks and Banking|Article 8A. Acquisitions of Banks by Bank Holding Companies|§31A-8A-9. Authority to Conduct Banking Business; Credit Card Processing

(a) Except as authorized in this article or articles eight-d, eight-e or eight-f of this chapter, no banking institution incorporated under the laws of any other state or having its principal place of business in any other state may receive deposits or transact any banking business of any kind in this state other than the lending of money.(b) A bank holding company with its principal place of business in another state or foreign country may establish electronic data processing facilities and credit card processing facilities in West Virginia. Such facilities are those established solely for the purpose of processing accounts and/or processing transactions relating to the issuance of credit cards.
WV Code § 31A-8A-10 (2021)
2021 West Virginia Code|Chapter 31A. Banks and Banking|Article 8A. Acquisitions of Banks by Bank Holding Companies|§31A-8A-10. Penalties

(a) The commissioner or board may enforce the provisions of this article by any appropriate action in the circuit court of Kanawha County or other court having proper jurisdiction, including an action for civil money penalties or injunctive relief: Provided, That the commissioner shall promptly give notice to the home state regulator of any enforcement action initiated against an out-of-state bank holding company and, to the extent practicable, shall consult and cooperate with the home state regulator in pursuing and resolving said enforcement action.(b) Any violation of any provision of this article shall constitute a misdemeanor offense, which, upon conviction thereof, shall be punishable by applicable penalties as provided in section fifteen, article eight of this chapter.
WV Code § 31A-8B-1 (2021)
2021 West Virginia Code|Chapter 31A. Banks and Banking|Article 8B. Community Reinvestment Act|§31A-8B-1. Short Title

This article may be cited as the "West Virginia Community Reinvestment Act."
WV Code § 31A-8B-2 (2021)
2021 West Virginia Code|Chapter 31A. Banks and Banking|Article 8B. Community Reinvestment Act|§31A-8B-2. Legislative Findings and Purpose

(a) The Legislature finds that:(1) Banking institutions are required by law to demonstrate that their deposit facilities serve the convenience and needs of the communities in which they are chartered to do business;(2) The convenience and needs of communities include the need for credit services as well as deposit services; and(3) Banking institutions have a continuing and affirmative obligation to help meet the credit needs of the local communities in which they are chartered.(b) It is the purpose of this article to require the commissioner and the board to use their authority when examining or investigating banking institutions or their bank holding companies, to encourage such institutions to help meet the credit needs of the local communities in which they are chartered consistent with the safe and sound operation of such institutions.
WV Code § 31A-8B-3 (2021)
2021 West Virginia Code|Chapter 31A. Banks and Banking|Article 8B. Community Reinvestment Act|§31A-8B-3. Application for a Deposit Facility; Definition

The term "application for a deposit facility" means an application to the commissioner or board for:(a) A charter for a state bank;(b) The relocation of the principal office or a branch of a state bank;(c) The establishment of a branch bank in an unbanked area requiring approval under section twelve, article eight of this chapter;(d) The merger or consolidation with, or the acquisition of the assets, or the assumption of the liabilities of a banking institution requiring approval under section seven, article seven of this chapter; or, the merger or consolidation with, or the acquisition of the assets, or the assumption of the liabilities of a banking institution requiring approval under section twelve, article eight of this chapter.(e) The acquisition of shares in, or the assets of, a state banking institution requiring approval under article eight-a of this chapter.
WV Code § 31A-8B-4 (2021)
2021 West Virginia Code|Chapter 31A. Banks and Banking|Article 8B. Community Reinvestment Act|§31A-8B-4. Assessment of the Institution's Reinvestment in the Community

In connection with its examination or investigation of a banking institution or bank holding company, the commissioner or board shall:(a) Assess the institution's record of meeting the credit needs of its entire community, including low-and moderate-income neighborhoods, consistent with the safe and sound operation of such institution; and(b) Take such record into account in its evaluation of an application for a deposit facility or for permission to engage in financially related services by such institution.
WV Code § 31A-8B-5 (2021)
2021 West Virginia Code|Chapter 31A. Banks and Banking|Article 8B. Community Reinvestment Act|§31A-8B-5. Rules and Regulations

Regulations to carry out the purposes of this article shall be promulgated by the commissioner.
WV Code § 31A-8C-1 (2021)
2021 West Virginia Code|Chapter 31A. Banks and Banking|Article 8C. Provision of Financially-Related Services by Banks and Bank Holding Companies|§31A-8C-1. Financially Related Defined

The term "financially related" includes:(a) All products, services and activities offered or engaged in by national banks or by any federally chartered thrift institution or West Virginia state or federally chartered credit union or a bank chartered by any other state; except those excluded by subsection (f) of this section;(b) Equity investments in real estate development activities, products and services;(c) Securities underwriting and brokerage activities, products and services, except those excluded by subsection (f) of this section;(d) Financial consulting activities, products and services; and(e) Any and all other activities, products and services engaged in or offered by other providers of financial products or services which may be deemed by the Commissioner of Banking pursuant to this article to be financially related, except those excluded by subsection (f) of this section.(f) The term "financially related" excludes products, services or activities offered or engaged in by any real estate agent, agency or broker, which products, services or activities are regulated by the state Real Estate Commission pursuant to chapter forty-seven of this code except for such activities, products and services permitted, engaged in or offered by a West Virginia state-chartered banking institution prior to the effective date of this section or permitted pursuant to subdivision (b) of this section.
WV Code § 31A-8C-2 (2021)
2021 West Virginia Code|Chapter 31A. Banks and Banking|Article 8C. Provision of Financially-Related Services by Banks and Bank Holding Companies|§31A-8C-2. Banks and Bank Holding Companies Permitted to Offer Financially Related Services

(a) Subject to the prior approval of the Commissioner of Financial Institutions, any West Virginia state-chartered banking institution or any bank holding company headquartered in this state may, either through equity investment in other entities or through a wholly owned subsidiary or subsidiaries, or by contract or agreement with others to provide such products or services, engage in any activity, exercise any power or offer any product or service that is financially related. A state-chartered banking institution may engage in a financially related activity directly and not through an operating subsidiary, financial subsidiary or affiliate if it is permissible for a national or state bank, federal or state thrift, federal credit union, or other financial service provider operating pursuant to federal law or regulation or the laws of other states to engage in the financially related activity directly. The commissioner shall grant or deny any request under this section within sixty days of receipt unless additional information is required.(b) In determining whether an activity is financially related, the commissioner shall consider:(1) The ability of financial institutions to exercise any additional powers in a safe and sound manner;(2) The authority of national or state banks, federal or state thrifts, federal credit unions and other financial service providers operating pursuant to federal law or regulation or the laws of other states to provide the financially related service; and(3) Any specific limitations on financial institution operations or powers contained in this chapter.(c) If a state-chartered banking institution or bank holding company must make prior application to a federal bank regulatory agency for approval to engage in a financially related activity, the banking institution or bank holding company shall file with the commissioner a copy of the application submitted to the federal agency.(d) The commissioner shall include a list of every financially related activity authorized pursuant to this section during the previous twelve months in his or her annual report to the Legislature.
WV Code § 31A-8C-3 (2021)
2021 West Virginia Code|Chapter 31A. Banks and Banking|Article 8C. Provision of Financially-Related Services by Banks and Bank Holding Companies|§31A-8C-3. Limitation on Permitted Investment in Entities Offering Financially Related Services

No West Virginia state-chartered banking institution or bank holding company may invest or otherwise expend more, in the aggregate of the amount of its capital and surplus, on a consolidated basis, in the conduct of financially-related activities than would be allowed to a national bank.
WV Code § 31A-8C-4 (2021)
2021 West Virginia Code|Chapter 31A. Banks and Banking|Article 8C. Provision of Financially-Related Services by Banks and Bank Holding Companies|§31A-8C-4. Promulgation of Rules

The commissioner of banking, pursuant to chapter twenty-nine-a of this code, shall promulgate rules governing the provision of financially-related products and services by West Virginia state-chartered banking institutions and by any bank holding company conducting business in this state. These rules shall include the procedures applicable in connection with application to engage in financially-related activities and offer financially-related products and services and the conduct of such activities.
WV Code § 31A-8C-5 (2021)
2021 West Virginia Code|Chapter 31A. Banks and Banking|Article 8C. Provision of Financially-Related Services by Banks and Bank Holding Companies|§31A-8C-5. Construction, Conflicting Provisions

This article shall be construed liberally to permit banks and bank holding companies to offer financially related products and services and to enable West Virginia state-chartered banking institutions and bank holding companies to compete fairly with other financial institutions and other entities providing financial services under the laws of the United States or any other state. No other provision of this code shall be deemed to prohibit such activity: Provided, That in the provision of such products and services, banks and bank holding companies are subject to the same state and federal regulation and licensing requirements as are other providers of such products and services.
WV Code § 31A-8D-1 (2021)
2021 West Virginia Code|Chapter 31A. Banks and Banking|Article 8D. Interstate Branching by Bank Mergers|§31A-8D-1. Legislative Purpose

It is the express intent of this article to permit interstate branching by merger under Section 102 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, Public Law No. 103-328, in accordance with the provisions set forth in this article.
WV Code § 31A-8D-3 (2021)
2021 West Virginia Code|Chapter 31A. Banks and Banking|Article 8D. Interstate Branching by Bank Mergers|§31A-8D-3. Authority of West Virginia State Banks to Establish Interstate Branches by Merger

Beginning on May 31, 1997, and with prior approval upon order of the board, a West Virginia state bank may establish, maintain and operate one or more branches in a state other than West Virginia pursuant to an interstate merger transaction in which the West Virginia state bank is the resulting bank. Not later than the date on which the required application for the interstate merger transaction is filed with the responsible federal bank supervisory agency, the applicant West Virginia state bank shall file an application on a form prescribed by the commissioner together with a $3,000 application fee. The applicant shall also comply with the applicable provisions of section twelve, article eight of this chapter. If the board finds that: (i) The proposed transaction will not be detrimental to the safety and soundness of the applicant or the resulting bank, including that local conditions assure reasonable promise of successful operation of the proposed bank branch; (ii) any new officers and directors of the resulting bank are qualified by character, experience and financial responsibility to direct and manage the resulting bank; (iii) the acquired branch offices of which will provide suitable physical facilities for their intended business; (iv) establishment of the proposed branch bank would not result in a substantial reduction of competition in any section of this state unless the anticompetitive effects of the proposed action are clearly outweighed in the public interest by the probable effect of the action in meeting the convenience and needs of the community to be served, or result in a monopoly, or be in furtherance of any combination or conspiracy to monopolize, or any attempt to monopolize the business of banking in any section of this state; (v) the proposed merger is consistent with the convenience and needs of the communities to be served by the resulting bank in this state and is otherwise in the public interest; and (vi) the new branch is in conformity with, and would be permitted under the laws of the state where the branch is to be located, it shall approve the interstate merger transaction and the operation of branches outside of West Virginia by the West Virginia state bank. The findings required herein shall supplant any other findings of fact otherwise required by subdivisions (1) through (6), subsection (j), section twelve, article eight of this chapter. Such an interstate merger transaction may be consummated only after the applicant has received the board's written approval by entry of an order granting the application.
WV Code § 31A-8D-4 (2021)
2021 West Virginia Code|Chapter 31A. Banks and Banking|Article 8D. Interstate Branching by Bank Mergers|§31A-8D-4. Interstate Merger Transactions and Branching Involving Out-of-State Banks Permitted

(a) Beginning on May 31, 1997, one or more West Virginia banks may enter into an interstate merger transaction with one or more out-of-state banks under this article, and an out-of-state bank resulting from such transaction may maintain and operate the branches and offices in West Virginia of a West Virginia bank that participated in such transaction: Provided, That the conditions and filing requirements of this article are met.(b) A merger transaction shall not be permitted under this article if, upon consummation of such transaction, the resulting bank (including all insured depository institution affiliates of the resulting bank) would assume sufficient additional deposits to cause it to control deposits in this state in excess of that allowed by section twelve-a, article two of this chapter: Provided, That the commissioner may by rule adopt a procedure whereby said acquisition deposit limitation as set forth in this code may be waived for good cause shown. The commissioner shall calculate the acquisition deposit limitation based upon the most recently available reports containing such deposit information filed with state or federal authorities.(c) A merger transaction resulting in the acquisition by an out-of-state bank of a West Virginia state bank, or all or substantially all of the branches of a West Virginia state bank, or resulting in the acquisition by an out-of-state state bank of a West Virginia bank or the change of control over a branch operating in West Virginia, shall not be permitted under this article unless: (i) The out-of-state bank confirms in writing to the commissioner that as long as it maintains a branch in West Virginia, it will comply with all applicable laws of this state, including consumer protection laws; (ii) deposits of the resulting bank in this state are insured in conformity with the provisions of section six, article one of this chapter; and (iii) the resulting bank, if state chartered, meets the capital requirements set forth in section three, article four of this chapter.