Identification of Branches

PURPOSE: In 1983, the general assembly amended the Missouri bank facility law, section 362.107, RSMo, to permit two or more banks located in the same county to merge and retain all branching rights possessed by the respective banks prior to the merger. The numerous mergers which have occurred since the change have heightened the questions which have been raised concerning the public’s perception of banking offices. Some concern has been expressed that depositors may exceed the limit of Federal Deposit Insurance Corporation insurance coverage by depositing excess amounts in two offices of the same bank which they perceive to be different banks. These questions arise because of the understandable wish of banks to identify with the community in which the branch is located by naming the branch after that community or retaining the name of the merged bank. This rule sets standards for accurate marketing policies concerning branches of banks and it not intended to curtail creative marketing by banks. (1) A bank shall avoid the use of any marketing tools including, but not limited to, signs, print media or broadcast media which foster a belief that any branch is a separately chartered or organized bank. (2) All official bank documents, including, but not limited to, checks, cashier’s checks, loan applications and certificates of deposit, must bear the name of the bank, reference to any branch name on an official document may not be more prominent than the name of the bank. AUTHORITY: section 361.105, RSMo 1986.* This rule originally filed as 4 CSR 140-2.120. Original rule filed June 12, 1984, effective Nov. 15, 1984. Amended: Filed Aug. 7, 1992, effective Feb. 26, 1993. Moved to 20 CSR 1140-2.120, effective Aug. 28, 2006. *Original authority: 361.105, RSMo 1967.