In evaluating the applications filed under this part, the commissioner shall consider the following factors:

(1) Whether immediate action is necessary;
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Terms Used In Hawaii Revised Statutes 412:2-504

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Commissioner: means the commissioner of financial institutions of this State. See Hawaii Revised Statutes 412:1-109
  • Company: means any corporation, partnership, trust (business or otherwise), association, joint venture, pool syndicate, unincorporated organization, or any form of business entity not specifically listed herein and, unless specifically excluded, a financial institution; provided that "company" does not mean any trust existing on July 1, 1993, which under its terms must terminate within twenty-five years, or not later than twenty-one years and ten months after the death of individuals living on the effective date of the trust. See Hawaii Revised Statutes 412:1-109
  • Failing financial institution: means a Hawaii financial institution or a federal financial institution whose operations are principally conducted in this State, and which:

    (1) Is insolvent or has failed to make good an impairment of its capital and surplus as provided in § 412:2-314;

    (2) Has incurred or is likely to incur losses that will deplete all or substantially all of its capital and surplus, and there is no reasonable prospect for such capital and surplus to be replenished without federal assistance; or

    (3) Has violated or is violating laws, rules or regulations, or has committed or is committing an unsafe or unsound practice, and such violation or practice is likely to cause insolvency or a substantial dissipation of assets or is likely to severely weaken the institution's condition or otherwise seriously prejudice the interests of its depositors. See Hawaii Revised Statutes 412:2-500

  • Federal: means belonging to, part of, or related to the government of the United States of America. See Hawaii Revised Statutes 412:1-109
  • Financial institution: means a Hawaii financial institution, and unless the context indicates otherwise, a federal financial institution or foreign financial institution. See Hawaii Revised Statutes 412:1-109
(2) The financial and managerial resources of the applicant and its holding company, if any;
(3) The probable viability of the failing financial institution after the acquisition or merger has been completed;
(4) Whether any federal agency is prepared to offer financial assistance to facilitate the acquisition or merger, and the amount of such assistance;
(5) Whether the effect of the proposed acquisition or merger may be substantially to lessen competition, or tend to create a monopoly or restraint of trade in any section of the country that includes the State or a part thereof, and whether these anti-competitive effects would be clearly outweighed in the public interest by the probable effect of the acquisition in meeting the convenience and needs of the community to be served;
(6) The convenience and needs of the public;
(7) The welfare of the depositors and creditors of the failing financial institution;
(8) The principal place of business of the applicant, the state where its operations and those of its affiliates are principally conducted, and their current business relationships with Hawaii-based businesses; and
(9) Any other factors which the commissioner may deem relevant.

The commissioner may negotiate with all or any of the applicants to modify any proposal, may accept more than one proposal if one involves only part of the assets or stock of the failing financial institution, and may condition any approval of an application upon the observance of such requirements as the commissioner deems appropriate. Nothing in this section shall require the commissioner to approve any application or accept any proposal made pursuant to this part.

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