Nebraska lawmakers have given final approval to a statewide branching/deposit cap bill, sending it to the governor for signature. The bill authorizes all Nebraska banks to branch statewide on a de novo basis. The bill also increases the deposit cap from 14% to 22% and expands mobile branching rights to counties contiguous to the bank's home county.
An amendment seeking to delay the effective date until May 15, 2003, was defeated. If signed by the governor, the bill will become effective July 20, 2002.
Once a bank exceeds the 22% deposit cap, it would be prohibited from acquiring another institution, merging with another …
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