No, a bank may choose to offer a limited menu of available services at the temporary location.
A: No, a notice to the Department is not required to relocate branch operations to a temporary facility that will be located on the parking lot or excess property of the damaged branch. If, however, for some reason the physical address of the temporary branch will be different than the damaged branch, please contact our office to discuss.
A: Yes, a bank may establish a temporary branch at a location shared with another financial institution. As with other temporary relocations, the Department must be notified of the relocation within five days.
A: Yes, the Department requests to be notified upon ceasing operations at the temporary location.
OpenQ: What happens if the original location cannot be reopened before the end of the effective date of the Texas Banking Commissioner’s Order Authorizing Temporary Branches or Offices (November 27, 2017 per Order 2017-013)?
A: The Banking Commissioner may extend the time for operating a temporary location if he finds that the conditions requiring the temporary office continue to exist. If you believe that to be true, notify the Department. Each request will be considered on a case by case basis.
A: Yes, a bank wishing to convert a temporary location to a permanent location this must obtain prior written approval of the banking commissioner. This will require submitting a branch application per Texas Finance Code, Section 32.203 and paying the designated fee.