Skip to content
BOL Conferences
Thread Options Tools
#1170795 - 04/27/09 07:36 PM Closing Branch - Letter Language
Mrs. Rizzo Offline
10K Club
Mrs. Rizzo
Joined: Mar 2006
Posts: 10,392
Curled up by the fire...
Does anyone have a sample letter to share when closing a branch office (finance co)?
_________________________
Take responsibility for your life.

Return to Top
General Discussion
#1173745 - 04/30/09 08:16 PM Re: Closing Branch - Letter Language Mrs. Rizzo
Andy_Z Offline
10K Club
Andy_Z
Joined: Oct 2000
Posts: 27,748
On the Net
You may/should have a template in your (required) branch closing policy. Here is what I have archived. It may get you started.

Branch Closing Policy
Attachment 1
Sample Letter to the OCC to be delivered at least 90 days prior to closing.
(Advance Branch Closing and Downgrade Notice)

<Date>

Office of the Comptroller of the Currency
Administer of National Banks
Southwestern District Office
500 North Akard, Suite 1600
Dallas, Texas 75201-3394
Attn: Licensing Manager

Re: Advance Branch Closing or Downgrade Notice

Dear Licensing Manager:

This is our official 90-day advance notice that the <bank name, address, and charter number> intends to <close its branch or downgrade its full service branch to an ATM> at <address, city, state>, popularly known as <branch popular name> as of <effective date>. This branch was authorized by the Comptroller of the Currency (OCC) as branch number A - .

In support of this decision, enclosed is the detailed statement of the reasons for the decision to <close or downgrade> the branch and supporting statistical or other information consistent with the bank’s written policy for branch closings.

[If applicable] Additionally, we have provided a 90-day advance notice to branch customers, a copy of which is enclosed. This notice to customers was mailed on <date>. We also intend to post a notice at the branch site at least 30 days prior to the closing as required.

The branch being closed <is / is not> in a low- or moderate-income area. As of this date, the bank <is / is not> an interstate bank, and as of the date of the branch closing, the bank <expects / does not expect> to be an interstate bank.

The branch certificate/authorization will be returned at the time of closure.

Sincerely,

<Signature>

Name and Title
Enclosures



Branch Closing Policy
Attachment 2
Sample Letter to the customers to be delivered at least 90 days prior to closing.

<Date>

Dear Customer:

At <time> on <date>, our <branch popular name> located <branch location> will close. All services offered at this branch will be available at our <branch popular name and branch location> branch. Your banking needs can be serviced at this or any of our other convenient locations. No action by you will be necessary.

[Optional: Include information on the services offered at other branches.]

Any person wishing to comment on this proposed branch closing may file comments with the licensing manager at:

Office of the Comptroller of the Currency
Administer of National Banks
Southwestern District Office
500 North Akard, Suite 1600
Dallas, Texas 75201-3394
Attn: Licensing Manager

Comments should be received by the proposed closing date.

If you have any questions, please call us at <telephone number>. We look forward to serving your banking needs for years to come.


Sincerely,

<Signature>

Name and Title


Branch Closing Policy
Attachment 3
Sample branch notice posted in the branch at least 30 days prior to closing.

NOTICE TO CUSTOMERS

We will close this branch effective <date>. We regret any inconvenience this branch closing may have on you, our valued customers.

All services offered at this branch will be available at our <branch popular name and branch location> branch. Your banking needs can be serviced at this or any of our other convenient locations.


Branch Closing Policy
Attachment 4
Sample Letter to the OCC to be delivered after closing.
(Final Branch Closing, Consolidation, Relocation, or Downgrade Notice)

<Date>

Office of the Comptroller of the Currency
Administer of National Banks
Southwestern District Office
500 North Akard, Suite 1600
Dallas, Texas 75201-3394
Attn: Licensing Manager

Re: Final Branch Closing, Consolidation, Relocation, or Downgrade Notice, CAIS Control Number

Dear Licensing Manager:

On (effective date), the (bank name, address, and charter number), (closed, consolidated, relocated or downgraded) its branch at (location), popularly known as (branch popular name) and authorized by the Comptroller of the Currency (OCC) as branch number A - .

[For consolidations]
This branch was consolidated with our branch at (location), popularly known as (branch popular name) and authorized by the Comptroller of the Currency (OCC) as branch number A - .

[For consolidations or short distance relocations]
The consolidation (or short distance relocation) of those branches complies with the requirements of the Joint Policy Statement on Branch Closing Notices and Policies, issued September 21, 1993 and meets the distance requirements of 12 CFR 5.3(l). The branches are located in the same neighborhood, and the nature of the business or the customers served is not affected and meets the short distance requirements in 12 CFR 5.

[For branch closings and downgrades]
A 90-day advance notice of proposed branch closing was submitted on (date). The original OCC authorization letter or branch certificate or a copy of the original is enclosed for cancellation, indicating the branch closed, if the original letter contained multiple authorizations.
Sincerely,

<Signature>

Name and Title
Enclosure
_________________________
AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

Return to Top
#1174216 - 05/01/09 03:31 PM Re: Closing Branch - Letter Language Andy_Z
Mrs. Rizzo Offline
10K Club
Mrs. Rizzo
Joined: Mar 2006
Posts: 10,392
Curled up by the fire...
Thank you, Andy. I appreciate your help.
_________________________
Take responsibility for your life.

Return to Top
#1214442 - 07/08/09 08:07 PM Re: Closing Branch - Letter Language Mrs. Rizzo
river girl Offline
Diamond Poster
Joined: Nov 2004
Posts: 1,005
If upper mgmt wants a list of financial instituions that have closed a branch in the last 12 months,including the location of that branch, is there a way to get that information?

Return to Top
#1214526 - 07/08/09 09:10 PM Re: Closing Branch - Letter Language river girl
#Just Jay Offline
10K Club
#Just Jay
Joined: Oct 2006
Posts: 14,390
Cheeseheadland
Our state DFI maintains a list on their website detailing all applications related to either opening, moving, or closing a branch location. I would start with your state DFI.
_________________________
I don't repeat gossip, so listen closely...

Return to Top
#2253790 - 05/12/21 12:57 PM Re: Closing Branch - Letter Language Mrs. Rizzo
ComplianceGuru89, CRCM Offline
Member
Joined: Sep 2015
Posts: 85
Do these letters need to go to every customer or can you send to a household?

Return to Top
#2253795 - 05/12/21 01:37 PM Re: Closing Branch - Letter Language Mrs. Rizzo
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
What you send and to whom depends on your charter. If you are state-chartered, you notify or send a request to the state's bank regulatory agency. If you have a federal (OCC) charter, you communicate with the OCC. The agency (state or OCC) has requirements on notifying customers and/or the public. There may be notice requirements (newspaper and/or lobby) or letter requirements, or a combination of the two.
_________________________
John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

Return to Top