Is there a FDIC regulation that either restricts or allows lending above the legal lending limit if secured by a time deposit in our institution? I have found our state statute allowing this but am also wondering if the FDIC has a position on this? If so, could I please have the section it comes from? Thanks.

This is the link to FDIC lending limit information...
http://www.fdic.gov/regulations/laws/rules/8000-7400.html

It explains calculation and exemptions to calculations including certificate of deposit.

Exactly what I needed. Thank you very much!

Just curious-

The link specifically indicates that these limits apply to national banks. By what authority do they apply / supercede state legal lending limits? Nowhere does the text indicate the rule applies to state banks.

The FDIC does not have legal lending limits - they are set at the state level, as all FDIC banks are State chartered.