Division of Banking and Financial Institutions

The State Banking Board is composed of six members. The members of the Board must be appointed with consideration given banks of small, medium and large size banks and to geographical distribution. Two of the six members must be active officers in state banks of Montana; one must be an active officer of a national bank doing business in Montana; and three must be members of the public, none of whom is an officer, director, or shareholder of any state or national bank.

 

The board shall elect a presiding officer from its members. The members must be appointed by the governor, with the consent of the senate, for terms of 3 years.  Vacancies must be filled by appointment for the unexpired term.  A member may not serve more than two consecutive terms. The board is allocated to the department of administration for administrative purposes only as provided in 2-15-121.

 

The powers and duties of the board are to make final determinations upon applications for certificates of authorization for new banks, act in an advisory capacity with respect to the duties and powers given by statute or otherwise to the department as the duties and powers relate to banking, upon request of an applicant or the department, review a decision of the department on an application for the formation or closure of branch banks, sales of branch banks, or the consolidation, merger, or relocation of banks and branch banks and conduct hearings as provided in 32-1-204.