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Part 347
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First Commercial Bank of Huntsville

May 4, 2001

Mr. Charles E. Kettle
President and Chief Executive Officer
First Commercial Bank of Huntsville
Post Office Box 040002
Huntsville, Alabama 35804

Dear Mr. Kettle:

Subject: Application for Consent to Establish a Shell Foreign Branch in Georgetown, Grand Cayman, Grand Cayman Islands

The application for consent to establish a shell (nameplate) foreign branch in Georgetown, Grand Cayman, Grand Cayman Islands, in care of Canadian Imperial Bank of Commerce, Bank and Trust Company, P. O. Box 694GT, Edward Street, Georgetown, Grand Cayman, Grand Cayman Islands, is approved subject to the following conditions:

1. In addition to the records, controls, and reports required by Section 347.110(a) of the FDIC's Rules and Regulations, First Commercial Bank of Huntsville shall take all steps within its control to ensure that the Cayman branch and its officers, employees and agents, independent contractors and affiliates provide First Commercial Bank of Huntsville access to information and records concerning First Commercial Bank of Huntsville Cayman business operations and transactions as is permitted under Cayman law. In addition to the requirements of Sections 347.110(b) of the FDIC's Rules and Regulations, First Commercial Bank of Huntsville shall, upon request in connection with a FDIC examination of First Commercial Bank of Huntsville or otherwise, provide such information to the FDIC.

2. First Commercial Bank of Huntsville shall ensure that consent provisions are included in appropriate and relevant documents and instruments governing its Cayman customer relationships to permit First Commercial Bank of Huntsville to disclose to the FDIC all documents and information concerning customer relationships and accounts.

3. All necessary and final approvals shall have been obtained from the Alabama Department of Banking and the appropriate foreign authorities.

4. If the proposed branch has not opened within 12 months from the date of this approval, or unless, in the meantime, a request for an extension of time has been approved by the FDIC, the consent granted herein shall expire at the end of the said 12-month period.

5. First Commercial Bank of Huntsville shall ensure that the foreign branch develop and maintain an enhanced due diligence program acceptable to the FDIC. The program should be designed to identify and monitor those customers and their transactions that pose a heightened risk to the bank.

6. The consent granted herein is based on facts, circumstances and commitments presented to the FDIC in connection with this request. First Commercial Bank of Huntsville shall notify the FDIC of any significant change in facts or circumstances. The FDIC's action is conditioned on its ability to alter, suspend, or withdraw its approval should any development be deemed to warrant such action.

Please advise the Atlanta Regional Office of the exact date on which the branch is established.

Sincerely.

John M. Lane
Associate Director



Last Updated 03/24/2011 Legal@fdic.gov