Commercial Banks and Trust Companies
Statutory requirements for the organization of a bank are contained in Article XV of the Banking Law. To assist you in meeting these requirements, we provide material outlining the procedures to be followed and the information which incorporators should provide in a "Certificate of Merit" supporting an application.
Prior to the preparation of a formal application, an outline of the proposed business plan should be submitted to the Department of Financial Services. At a minimum, the outline should include the rationale for organizing the proposed institution, the market segment it expects to serve, the names and occupations of the incorporators, the name and experience of the candidate for the position of Chief Executive Officer and the proposed capitalization. If available, financial projections should also be included.
Upon review of the plan, a Department of Financial Services representative will contact you to arrange a mutually convenient time to discuss the proposal.
Organizing a Commercial Bank Under New York Banking Law
- Information and Procedure
- Certificate of Merit
- Organization Certificate (PDF)
- Certificate of Compliance with Section 296-a of the Executive Law (PDF)
- Questionnaire (PDF)
- Authority to Release Information Form (PDF)
- Litigation Affidavit (PDF)
- Fingerprinting Procedure
- Financial Report (PDF)
- Financial Statements for Individuals Owning 10% or More of Proposed Institution's Capital Stock (PDF)
- Financial Projections (PDF)
- Matters to be Completed Prior to the Issuance of an Authorization Certificate
- Verified list of Stockholders (PDF)
- Affidavit of Payment of Capital Stock (PDF)
- Oath of Directors (PDF)
- Director's Affiliations Form (PDF)
- Taxpayer ID Form (PDF)
Organization of a Trust Company for the limited purpose of exercising fiduciary powers
Statutory requirements for the organization of a bank or trust company are contained in Article XV of the Banking Law. To assist you in meeting these requirements, we provide material outlining the procedures to be followed and the information which incorporators should provide in a "Certificate of Merit" supporting an application.
Prior to the preparation of a formal application, an outline of the proposed business plan should be submitted to the Department of Financial Services. At a minimum, the outline should include the rationale for organizing the proposed institution, the market segment it expects to serve, the names and occupations of the incorporators, the name and experience of the candidate for the position of Chief Executive Officer and the proposed capitalization. If available, financial projections should also be included.
Upon review of the plan, a Department representative will contact you to arrange a mutually convenient time to discuss the proposal.
- Fingerprinting Procedure
- Information and Procedure/Certificate of Merit
- Provisions relating to the formation of Limited Liability Trust Companies
The following forms are in PDF format.
- Affidavit of Payment of Capital Stock
- Articles of Organization
- Authority to release information
- Director's affiliations form
- Financial Projections
- Financial report
- Financial statements for individuals owning 10% or more of proposed institution's capital stock
- Litigation affidavit
- Matters to be completed prior to the issuance of an Authorization Certificate
- Oath of Directors
- Organization Certificate
- Questionnaire
- Surety Bond for Limited Purpose Trust Company
- Taxpayer ID Form
- Verified list of stockholders