meta_id 3205544

On June 1, 2026, the Georgia Department of Banking and Finance (DBF) issued guidance establishing pre-opening examination procedures and a comprehensive checklist for state-chartered banks, bank holding companies, credit unions, and trust companies. The guidance, designated DBF SUP 26-004, outlines the final major step of the chartering process and sets requirements that organizers must meet before commencing operations. The pre-opening examination determines whether the Board of Directors and management are adequately prepared to begin business. Financial institutions must request the examination at least 30 days in advance, with the examination target date preceding the proposed opening by at least 10 business days. The DBF charges a $5,000 pre-opening examination fee. Examiners assess compliance with all approval letter conditions, verify adherence to the submitted operating plan, confirm establishment of satisfactory operational procedures and policies, and review significant third-party relationships. If deficiencies are identified, the Department may delay the proposed opening date until corrections are completed. Serious deficiencies that raise safety and soundness concerns must be resolved before the financial institution is permitted to open. The guidance requires submission of 27 specific items before examination, including Board minutes, officer oaths, stock documentation, insurance policies, audit programs, fixed asset accounting, and operational systems verification. The checklist covers management and staffing adequacy, compliance officer designation, Bank Secrecy Act procedures, Community Reinvestment Act compliance, capital stock issuance, office systems functionality, premises security, and disaster recovery planning. The DBF may waive or conduct abbreviated pre-opening examinations for institutions sponsored by existing bank holding companies, based on prior experience with the corporate parent. Examiners must coordinate with the FDIC or NCUA and prepare the Permit to Begin Business in conjunction with federal deposit insurance certification. REFERENCES: Georgia Department of Banking and Finance. DBF SUP 26-004: Pre-Opening Examination Procedures and Checklist. June 1, 2026. Available at: [Georgia DBF Official Website]