2012 Idaho Statutes
Title 26 - BANKS AND BANKING
Chapter 16 - IDAHO INTERSTATE BRANCHING ACT
Section 26-1604 - MERGER APPROVAL.

26-1604. Merger approval. (1) A bank whose home state is a state other than Idaho may acquire control of, acquire all or substantially all of the assets of, or merge with a bank whose home state is Idaho. Except as authorized in this chapter or section 26-311, Idaho Code, no bank, the home state of which is a state other than Idaho, may establish or maintain an office in this state, or conduct the business of banking in this state.

(2) A bank whose home state is Idaho may not enter into any transaction the result of which would be the acquisition of a branch or branches of the bank with an out-of-state bank without the acquisition of all or substantially all of the assets of the preexisting Idaho bank; provided that, in the event that a bank is required by the federal government to divest one (1) or more branches in connection with an interstate transaction, such branches may be sold to financial institutions located in Idaho subject to the approval of the director.

(3) A bank whose home state is Idaho may acquire control of, acquire all or substantially all of the assets of, or merge with a bank whose home state is a state other than Idaho. A bank with a home state other than Idaho shall apply to and receive the approval of the director prior to any acquisition transaction which, if approved, would result in a bank, the home state of which is Idaho, becoming a branch or branches of the out-of-state bank. The director may accept copies of applications for such transactions made to other state or federal bank supervisory agencies. Without the prior approval of the director pursuant to this chapter, any merger transaction between a bank chartered by or located in this state and any out-of-state bank is unlawful.

(4) Banks chartered by this state and national banks, the main offices of which are located in this state, may establish or maintain branch banks in other states only in accordance with this chapter.

(5) A bank, the home state of which is Idaho, shall apply to and receive the approval of the director prior to any merger transaction which, if approved, would result in one (1) or more banks chartered by or located in one (1) or more other states becoming branches of a bank whose home state is Idaho.