ARM 2.59.2204. PRO FORMA STATEMENT

(1) An operational projection must be submitted as part of the application for proposed new depository bank charters, in order to show that the new bank will remain solvent while meeting the requirements set forth in 32-1-240 through 32-1-245, MCA, and ARM 2.59.2203. The pro forma statement will include, at a minimum: (a) a projected three-year comparative balance sheet and income projection based on reasonable market conditions and a supportable business and marketing plan that addresses the factors in ARM 2.59.2205(2); (b) information on start-up costs, including legal fees, and other costs that may be amortized; and (c) costs associated with fixed assets and their maintenance. (2) The statement will reasonably estimate the volumes of business the new bank anticipates in the first three-year period, as supported by a business and marketing plan, and will show its reasons for believing it will develop such business aggregates.