To repeal section 362.915, RSMo 1994, relating to bank holding companies, and to enact in lieu thereof one new section relating to the same subject.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF MISSOURI, AS FOLLOWS:

Section A. Section 362.915, RSMo 1994, is repealed and one new section enacted in lieu thereof, to be known as section 362.915, to read as follows:

362.915. It is unlawful for any bank holding company to obtain control of any bank if the total deposits in the bank together with the total deposits in all banks in Missouri controlled by the bank holding company exceed [thirteen] thirty percent of the total deposits in all depository financial institutions in the state, determined as of December thirty-first of the most recent year for which totals are available, preceding the date the bank holding company files an application with the division of finance as required by sections 362.910 to 362.940. For the purposes of this section, "depository financial institution" shall mean any financial institution which accepts deposits and which may protect its customers' funds by insurance through an agency of the federal government. In computing the total bank deposits in all banks controlled by the bank holding company and the bank which the holding company seeks to acquire, there shall be deducted from total deposits, certificates of deposit in the face amount of one hundred thousand dollars or more, deposits from sources outside the United States, and deposits of banks other than banks controlled by the bank holding company.