BNC and HPBC are both well capitalized and the combined entity would remain so on consummation of the proposed transaction.
In addition, the Board has considered information provided by BNC; the Board's supervisory experiences with BNC and HPBC and those of other relevant bank supervisory agencies with the organizations; and the organizations' records of compliance with applicable banking, consumer protection, and anti-money-laundering laws; as well as information provided by the commenter.
Based on all the facts of record, including BNC's supervisory record, managerial and operational resources, plans for operating the combined institution after consummation, and the comments received on the proposal, the Board concludes that considerations relating to the financial and managerial resources and future prospects of the organizations involved in the proposal, as well as the records of effectiveness of BNC and HPBC in combatting money-laundering activities, are consistent with approval.
HPBC operates the 8th largest depository institution in the same market, controlling deposits of approximately $623.
HPBC operates the 15th largest depository institution in the same market, controlling deposits of approximately $22.