Maine Financial Institution Application Fee Increases

ME BFI Bulletins

Published August 3rd, 2022

Detected March 18th, 2026

Summary

The Maine Bureau of Financial Institutions has revised its schedule of application fees for financial institutions. Most significantly, the fee to charter new financial institutions, including nondepository trust companies, merchant banks, and uninsured banks, has been increased to the statutory maximum of $5,000.

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What changed

The Maine Bureau of Financial Institutions issued Bulletin 9 on August 3, 2022, to announce revised application fees for various financial institution activities. The most notable change is the increase in the fee for chartering new financial institutions, including nondepository trust companies, merchant banks, and uninsured banks, from previous amounts to the statutory maximum of $5,000. Other fees for branch applications, conversions, mergers, acquisitions, and engaging in closely related activities have also been updated, with specific amounts listed for each.

Financial institutions and holding companies seeking to charter new entities or engage in various other regulated activities in Maine must now pay the updated fee schedule. These revised fees are intended to more accurately reflect the costs associated with processing these applications. Compliance officers should review the bulletin to identify any new or increased fees applicable to their institution's current or planned activities and ensure the correct fees are submitted with future applications.

What to do next

Review revised application fee schedule in Bulletin 9
Ensure correct fees are submitted with all future financial institution applications

Source document (simplified)

BUREAU OF FINANCIAL INSTITUTIONS Department of Professional and Financial Regulation, State of Maine August 3, 2022 BULLETIN 9 FINANCIAL INSTITUTION FEES FOR VARIOUS APPLICATIONS To the Chief Executive Officer Addressed: Various sections of Title 9-B M.R.S. grant the superintendent discretionary authority to establish fees for the various applications required by statute. The revised schedule increases the application fees to charter new financial institutions, including the fees to charter nondepository trust companies, merchant banks, and uninsured banks, to the statutory maximum of $5,000. The increased fees more accurately recoup the costs of processing such applications. The following is a revised schedule of application fees: 9-B M.R.S. APPLICATION FEE Chapter 31 New Financial Institution $5,000 Chapter 33 Branch Applications: New Branch Branch Relocation or Closing $1,000* $1,000* Notification Procedure: New Branch Branch Relocation or Closing $500* $500* Recording Procedure: New Branch Relocation or Closing $100 $100 Chapter 34 Chapter 35 Chapter 37 Conversions or changes in ownership form Merger, consolidation, and acquisition BY IN-STATE FINANCIAL INSTITUTION De novo interstate branch application De novo interstate branch notification Interstate branch acquisition or combination application BY OUT-OF-STATE FINANCIAL INSTITUTION: De novo interstate branch notification Interstate branch acquisition or combination notification $2,000 $2,500 $1,000 $250 $2,500 $250 $2,500

9-B M.R.S. APPLICATION FEE Chapter 44 Engage in a closely related activity: Application $2,500 Notification $250 Service Application $2,500 corporation: Notification $500 Chapter 81 Credit Union: Organization $1,000 Chapter 87 Credit Union: Merger, acquisition or $2,000 conversion Chapter 101 Engage in a closely related activity: Application $2,500 Notification $250 Acquisition of/by a Maine financial institution or holding company: By/of a Maine financial institution or holding $2,500 company By/of a non-Maine financial institution holding $2,500 company Chapter 105 Mutual Holding Company $2,500 Chapter 121 Nondepository Trust Company $5,000 Chapter 122 Merchant Bank Establishment $5,000 Chapter 123 Uninsured Bank Establishment $5,000 *The filing fee for these applications or notifications is per banking market, as defined by the Federal Reserve Bank of Boston, regardless of the number of branches or facilities per market. Should you have any questions regarding this Bulletin, please contact the Bureau at (207) 624 -8574, or by email at bfi.info@maine.gov. This Bulletin replaces Bulletin #9 issued February 6, 2001. /s/ Lloyd P. LaFountain, III Superintendent Gardiner, Maine June 10, 2022