Relating to bank merger by interstate branching and providing clarity regarding the disclosure required when an out of bank acquires a West Virginia state-chartered bank

HB 4789 clarifies the disclosure requirements for out-of-state banks acquiring West Virginia state-chartered banks or their branches. The bill requires such banks to submit written confirmation to the West Virginia Division of Financial Institutions that they will comply with state consumer protection laws, maintain proper deposit insurance, and meet capital standards if the resulting bank is state-chartered. This applies specifically to mergers where an out-of-state bank takes control of a West Virginia bank or its branches. The bill does not change existing merger rules but makes the required disclosure process more explicit and standardized. Its purpose is to reduce ambiguity in the application process for interstate bank acquisitions.