I have researched the regulation but have 1 question because the regulation is not very clear in about how soon the notice must be published in the newspaper before you can file application with FDIC, could someone clarify this?
303.7 subpart C just states must be published once in a newspaper about the opening and the 303.44 states the application date may not be more than 5 days prior to publication in the newspaper. So if we put the notice in next Wednesday paper then can we file the application 5 days later?
The Board of Directors wants every precise and spelled out.

Yes you could but that would be the latest day. You could submit the application the day after publication too.


§ 303.42 Filing procedures.

(a) General. An applicant shall submit an application to the appropriate FDIC office on the date the notice required by § 303.44 is published, or within 5 days after the date of the last required publication.

I would say save yourself some trouble and call your regulator directly.

Don't forget your state banking regulator....

I really think it differs from state to state