Bulletin 2002-04-BT

Bank and Savings Bank Supervisory fees

Issued and entered June 28, 2002 by Frank M. Fitzgerald, Commissioner of Financial and Insurance Services 

This bulletin supersedes Bank Bulletin No. 2, dated July 1, 1999, and supervisory fee schedules previously issued pursuant to the Michigan Savings Bank Act.

Section 2203 of the Michigan Banking Code of 1999 and Section 210 of the Michigan Savings Bank Act require the Commissioner periodically to establish a schedule of supervisory fees and require each bank and savings bank to pay an annual supervisory fee. The following supervisory fee schedule has been established by the Commissioner and is effective July 1, 2002.

Bank and Savings Bank Supervisory Fees
Total Assets Blank Cell Annual Supervisory Fee Blank Cell Blank Cell
Over (millions) But less than (millions) This amount Plus Of assets Over (millions)
$ 0 $ 4 (Minimum fee = $1,000.00) Blank Cell Blank Cell
4 20 1,000.00 .000159730 4
20 100 3,405.69 .000125049 20
100 200 13,409.64 .000081281 100
200 1,000 21,537.77 .000068768 200
1,000 2,000 76,551.81 .000056272 1,000
2,000 6,000 132,823.51 .000050020 2,000
6,000 20,000 332,903.31 .000042561 6,000
20,000 40,000 928,760.11 .000040038 20,000
40,000 Blank Cell 1,729,528.11 .000035904 40,000

NOTE: MCL 487.12203(1) and 487.3210(1) limit the annual supervisory fee to not more than 25 cents for each $1,000 of total assets of the bank. This limitation does not apply to the minimum fee, established this year at $1,000.00.

Holding company subsidiary banks and savings banks which are not the lead banks in their holding companies will receive a 10% discount from the fees scheduled above.

Section 2203(6) of the Banking Code of 1999 and Section 210(6) of the Savings Bank Act require the Commissioner periodically to establish a schedule of fees beyond those charged for normal supervision. Accordingly, the Commissioner has established a surcharge, to be calculated as a percentage of the annual supervisory fee, that will be assessed as follows to banks and savings banks that have been rated by this agency or federal regulators as composite CAMELS 3, 4, or 5.

Composite CAMELS 3     10%
Composite CAMELS 4     25%
Composite CAMELS 5     50%

Any questions regarding this bulletin should be directed to:

Office of Financial and Insurance Services
Bank and Trust Division
611 West Ottawa Street
P.O. Box 30220
Lansing, Michigan 48909-7720

Phone: (517) 373-6950
Toll Free (877) 999-6442