10VAC5-20-30: Schedule prescribing annual fees paid for examination, supervision, and regulation of state-chartered banks and savings institutions

Pursuant to the provisions of §§ 6.2-908 and 6.2-1202 of the Code of Virginia, the State Corporation Commission hereby sets the following schedule of annual fees to be paid by state-chartered banks, savings institutions, and savings banks for their examination, supervision, and regulation:

SCHEDULE

Asset Interval

Fee

Assets Exceeding

But Not Exceeding

This Amount

Plus

Assets Exceeding

$0

$5 million

$6,900

0

x

5 million

25 million

6,900

.0004025

x

$5 million

25 million

100 million

14,950

.00023

x

25 million

100 million

200 million

32,200

.0001725

x

100 million

200 million

1 billion

49,450

.0001265

x

200 million

1 billion

5 billion

150,650

.0001035

x

1 billion

5 billion

564,650

.0000805

x

5 billion

The fee assessed using the above schedule shall be rounded down to the nearest whole dollar. The assessment shall be based on the institution's total assets as shown by its Report of Condition as of the close of business for the preceding calendar year.

A bank or savings institution which opens for business January 1 through June 30 shall be assessed a fee of $6,900 for that year.

A bank or savings institution which opens for business on or after July 1 shall be assessed a fee of $5,175 for that year.