Montana banks in flood-affected areas may close, agency proclaims

Flooding in Montana has spurred the national bank regulator to allow banks and federal savings association affected by the inundation to close, the agency said Wednesday.

In a proclamation, the Office of the Comptroller of the Currency (OCC) said it expects that only those bank offices directly affected by potentially unsafe conditions will close. However, the agency said, “those offices should make every effort to reopen as quickly as possible to address the banking needs of their customers.”

The agency pointed bankers to its Bulletin 2012-28, “Supervisory Guidance on Natural Disasters and Other Emergency Conditions” (issued Sept.  21, 2012), which it said provides guidance on actions bankers could consider taking when their institution operates or has customers in areas affected by a natural disaster or other emergency.

OCC Allows National Banks and Federal Savings Associations Affected by Flooding in Montana to Close