HOUSE CONCURRENT RESOLUTION NO. 93
(By Delegate R. M. Thompson, H. White, Angotti, Paxton, Spencer,
Pino, Walters, Cann, Craig, Harrison, Webb and Webster.)
(Introduced April 14, 2001; Referred to
the Committee on Rules.)
Requesting the Joint Committee on Government and Finance to make a
study as to the overall effects on the citizens of our state
of acquisition of community banks by out of state banking
corporations.
Whereas, Currently local, community banks are being acquired
throughout this state by out of state banking corporations; and
Whereas, There is a serious concern that the acquisition of
local community banks has affected the overall economy of our
state, and that such acquisition has had an adverse effect on
smaller banks in our state and those banks chartered in our state;
and
Whereas, As a result of the foregoing the citizens and banking
public of our state may be paying higher costs for less services;
therefore, be it
Resolved by the Legislature of West Virginia:
That the Joint Committee on Government and Finance is hereby
directed to review, examine and study the overall effect on the economy of the State of West Virginia of the acquisition of
community banks by out of state bank corporations and the effect of
these acquisitions on banks chartered in West Virginia and on
smaller banks in our state; and, be it
Further Resolved, That the Joint Committee on Government and
Finance report to the regular session of the Legislature, 2002, on
its findings, conclusions and recommendations, together with drafts
of any legislation necessary to effectuate its recommendations;
and, be it
Further Resolved, That the expenses necessary to conduct this
study, to prepare a report and to draft necessary legislation be
paid from legislative appropriations to the Joint Committee on
Government and Finance.