Bank and Savings Bank Supervisory and Trust Fees

Issued and entered this 9th day of June 2005
By Linda A. Watters, Commissioner

This bulletin supersedes OFIS Bulletin No. 2004-02-BT, dated June 16, 2004.

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, 2005.

* 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, except if this would produce a total fee less than the minimum fee of $3,000.00.

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 schedule of fees for trust examination fee is as follows:

* $1,000 for banks holding limited trust powers.