Is there some type of FDIC rule for a percentage limit on deposits from one person/entity? A state examiner mentioned something to senior management about this being a new rule. Supposedly, we cannot have more than 2% in deposits from any one entity. 2% of what, I have no idea.

I have searched high and low in the FDIC site and the state code (Virginia). Can anyone point me in the right direction?

I don't know anything about that.

I recall Reigle-Neal in 1996 required interstate banks to report deposit sources and they couldn't have over X% of the deposits in a state... or something to that effect. John or some other person who is really up on deposit laws may remember if this could apply. As a small community bank, this isn't something I studied.

Another one of those cases of "examiner rules" maybe? I have never heard of anything like this.

BWest

Shelley,

Why not ask your regulator for the section of the regs that covers this? I wouldn't hesitate to do this.

As Andy noted Section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 addresses "Host State" loan-to-deposit ratios.