ARM 2.60.804. BUSINESS PLAN AND PRO FORMA STATEMENT

(1) An application under ARM 2.60.802 shall be accompanied by a business plan and pro forma statement, containing at a minimum: (a) a three-year projected comparative balance sheet, income statement and statement of cash flows, showing projections of income, costs, profits and cash flows; (b) a three-year estimate of the volume of deposits to be made with the proposed depository, with an explanation of the applicant's reasons for believing it will develop such volume of business; and (c) a statement of proposed expenditures for fixed assets such as premises, fixtures, furniture and equipment, a statement of estimated start-up costs and evaluation of relevant changes in financial markets.