Bulletin 2003-03-BT

Bank and Savings Bank Supervisory fees

Issued and entered June 18, 2003 by Linda A. Watters, Commissioner of Financial and Insurance Services 
 

This bulletin supersedes Bulletin No. 2002-04-BT, dated June 28, 2002.

Section 2203 of the Michigan Banking Code of 1999, MCL 487.12203, and Section 210 of the Michigan Savings Bank Act MCL 487.3210, 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, 2003.

Total Assets
Annual Assessment
Over(millions) But less than(millions)   This Amount Plus Of assets Over(millions)
$ 0 $ 20   $3,000.00 *    
20 50   $3,000.00 .000127784 20
50 100   6,833.52 .000100039 50
100 500   11,835.48 .000062586 100
500 1,000   36,870.03 .000052951 500
1,000 2,000   63,345.71 .000043329 1,000
2,000 6,000   106,675.15 .000035514 2,000
6,000 20,000   248,731.95 .000030218 6,000
20,000 40,000   671,788.29 .000026825 20,000
40,000     1,208,297.49 .000024056 40,000
* Minimum fee is $3,000.00, $1,500.00 for limited-purpose trust banks.

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 supervisory fee.

Holding company subsidiary banks which are not the lead banks in their holding companies will receive a 10% discount from the schedule 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  • The trust examination fee set forth in the schedule established on October 1, 1999 is superseded by the following schedule.
Total Trust Assets1 Annual Assessment
Over (millions) But less than (millions)   This Amount Plus (per million) Of assets over (millions)
$0 $50   $3,000* 0 $0
50 100   3,000 0.000024000 50
100 500   4,200 0.000017000 100
500 1,000   11,000 0.000009700 500
1,000 30,000   15,850 0.000001550 1,000
30,000 70,000   60,800 0.000000150 30,000
70,000 200,000   66,800 0.000000050 70,000
* $1,000 for banks holding limited trust powers.
  • The Commissioner has established a surcharge to be assessed as a percentage of the annual supervisory fee to banks whose composite CAMELS rating is 3, 4, or 5 and as a percentage of the annual trust fee for banks whose Uniform Interagency Trust Rating is 3, 4, or 5. The following percentages will be applied.

3-rated 10%
4-rated 25%
5-rated 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