FDIC 6200/09 (10-05) Page 3
SPECIFIC INSTRUCTIONS
INFORMATION REQUIRED FOR CONSENT TO EXERCISE TRUST POWERS
Applications from "Eligible Depository Institutions" for expedited processing should include the cover page and questions 1
through 4 below. Applications from all other institutions for standard processing should include the cover page and all of the
questions below. The term "eligible depository institutions" is defined in the General Instructions of this form.
1. Adoption of Statement of Principles. Provide a certified copy of the resolution of the applicant's board of directors
adopting the Statement of Principles of Trust Department Management.
2. State Trust Powers. Indicate (a) the trust powers granted by the state authority, (b) the date(s) those powers were
granted, and (c) the status of any application(s) filed with the state authority regarding the granting of, or consent to exercise,
trust powers.
3. Trust Officer. Identify the individual designated to be the primary Trust Officer. Indicate their age, proposed title, and
proposed annual salary, and the percentage of time to be devoted to fiduciary activities. Indicate the candidate's current
position and responsibilities, employment history, and business and educational qualifications in the fiduciary, employee benefit
and tax areas. Also indicate any professional licenses or similar certificates. Note: In lieu of this descriptive information, the
proposed Trust Officer may complete the biographical information portion of the Interagency Biographical and Financial Report.
4. Servicing Arrangements. If the institution intends to use another organization to manage the administration of its trust
accounts and/or to manage trust investments, please provide: (a) the name, address and phone number of each such
organization; (b) the organization's relationship (if any) to the applicant and its directors and officers; (c) the type of service(s)
to be provided; (d) the basis for selecting each such organization; (e) whether such service(s) will be governed by a written
agreement; (f) the projected annual cost of such service(s); and (g) how the applicant intends to monitor the outside
organization's performance and compliance with the scope and terms of fiduciary responsibilities and the written agreement.
Please note: This question does not
cover EDP servicing or custody of trust assets by correspondent banks.
5. Trust Committee. List proposed members of the Trust Committee and specify their trust-related experience and
knowledge. For each person, provide: Name, position with the applicant, number of years associated with the applicant,
principal occupation, and qualifications in fiduciary, investment, employee benefit, and tax areas.
6. Trust Counsel. Identify the attorney or legal firm which will serve as trust counsel, and describe their qualifications in
fiduciary matters. Provide: (a) name and location of firm [if individual attorney include name], (b) experience in probating
estates and administering other fiduciary business, (c) any present professional services performed for the applicant, and (d) any
present fiduciary services performed for competing trust institutions.
7. Projection of Trust Activity. Provide a projection of trust accounts, assets, and profitability for the first three calendar years
after the trust department begins operations.
• Trust Accounts and Assets: As of each year-end, show the number of accounts expected to be generated, broken down
by general type(s) of trust activity (personal trust, employee benefit accounts, corporate trust, etc.), together with the
dollar volume of trust assets expected to be under the trust department's administration for each general type of trust
activity.
• Trust Profitability: For each of the three calendar years, show gross trust account fees, other income, and a breakdown
of direct and allocated expenses (such as salaries and benefits, audits, data processing, advertising, operations, legal,
overhead, etc.). If the bank intends to provide an internal credit for bank earnings generated by trust deposits, the
credit for deposits should be included as a separate item for each year.
8. Impact on Applicant. For years where the trust profitability projections indicate a net operating loss from offering trust
services, discuss the extent of the adverse impact of these losses on the condition of the applicant.