Section 303.62 - Transactions requiring prior approval(a)Merger transactions. The following merger transactions require the prior written approval of the FDIC under this subpart: (1) Any merger transaction, including any corporate reorganization, interim merger transaction, or optional conversion, in which the resulting institution is to be an FDIC-supervised institution; and(2) Any merger transaction, including any corporate reorganization, or interim merger transaction, that involves an uninsured bank or institution.(b)Related regulations. Transactions covered by this subpart also may be subject to other regulations or application requirements, including the following: (1)Interstate merger transactions. Merger transactions between insured banks that are chartered in different states are subject to the regulations of section 44 of the FDI Act (12 U.S.C. 1831u ) . In the case of a merger transaction that consists of the acquisition by an out of state bank of a branch without acquisition of the bank, the branch is treated for section 44 purposes as a bank whose home state is the state in which the branch is located.(2)Deposit insurance. An application for deposit insurance will be required in connection with a merger transaction between a state-chartered interim institution and an insured depository institution if the related merger application is being acted upon by a Federal banking agency other than the FDIC. If the FDIC is the Federal banking agency responsible for acting on the related merger application, a separate application for deposit insurance is not necessary. Procedures for applying for deposit insurance are set forth in subpart B of this part. An application for deposit insurance will not be required in connection with a merger transaction (other than a purchase and assumption transaction) of a federally-chartered interim institution and an insured institution, even if the resulting institution is to operate under the charter of the Federal interim institution.(3)Branch closings. Branch closings in connection with a merger transaction are subject to the notice requirements of section 42 of the FDI Act (12 U.S.C. 1831r-1 ), including requirements for notice to customers. These requirements are addressed in the "Interagency Policy Statement Concerning Branch Closings Notices and Policies" (1 FDIC Law, Regulations, Related Acts (FDIC) 5391; see§ 309.4(a) and (b) of this chapter for availability).(4)Undercapitalized institutions. Applications for a merger transaction by applicants subject to section 38 of the FDI Act (12 U.S.C. 1831o ) should also provide the information required by § 303.204 . Applications pursuant to sections 38 and 18(c) of the FDI Act (12 U.S.C, 1831o and 1828(c) ) may be filed concurrently or as a single application.(5)Certification of assumption of deposit liability. Whenever all of the deposit liabilities of an insured depository institution are assumed by one or more insured depository institutions by merger, consolidation, other statutory assumption, or by contract, the transferring insured depository institution, or its legal successor, shall provide an accurate written certification to the FDIC that its deposit liabilities have been assumed, in accordance with 12 CFR part 307 .85 FR 3243, Jan. 21, 2020