Register January 2006 No. 601
Chapter DFI-SB 4
ANNUAL STATEMENTS
DFI-SB 4.01 Annual printed statements.
DFI-SB 4.02 Method of preparation.
DFI-SB 4.03 Publication requirement.
Ch. DFI-SB 4 Note
Note: Chapter SB 4 was renumbered ch. DFI-SB 4 under s. 13.93 (2m) (b) 1., Stats., and corrections made under s. 13.93 (2m) (b) 6. and 7., Stats.,
Register, November, 1997, No. 503.
DFI-SB 4.01(1)
(1)
Form and content. The printed statement of condition and operations required by s.
214.76 (5) (b), Stats., shall be in substantially the following form and shall contain, at a minimum, the following information: See Figure DFI-SB 4.01 (1)]
DFI-SB 4.01 Note
Note: This section interprets or implements s.
214.76, Stats.
Figure DFI-SB 4.01(1)
DFI-SB 4.01(2)
(2) Deletion of certain prescribed categories. If the balance in any category prescribed under
sub. (1) is zero, that category need not be shown in the statement.
DFI-SB 4.01 History
History: Cr.
Register, February, 1994, No. 458, eff. 3-1-94.
DFI-SB 4.02(1)
(1)
All savings banks. Each statement of condition and operations required under s.
214.76 (5) (b), Stats., shall be prepared in accordance with generally accepted accounting principles.
DFI-SB 4.02(2)
(2) Mutual savings banks. In the case of a mutual savings bank, unless "net income" equals the difference between "total net worth" at the end of the period and "total net worth" at the beginning of the period, the statement of condition and operations shall include:
DFI-SB 4.02(2)(a)
(a) A clearly readable explanation of material adjustments to the net income of prior periods; or
DFI-SB 4.02(3)
(3) National industry standard. The commissioner may require savings banks to prepare statements of condition and operations according to an accounting practice or standard which does not comply with generally accepting accounting principles if the practice or standard is generally used and accepted nationally for mutual or stock savings banks or similar financial institutions as indicated by one or more of the following:
DFI-SB 4.02(3)(a)
(a) The accounting practice or standard is used by a substantial portion of the savings bank industry nationally; or
DFI-SB 4.02(3)(b)
(b) The accounting practice or standard is accepted or required by the federal deposit insurance corporation or the securities and exchange commission.
DFI-SB 4.02(4)
(4) Forms modified. The commissioner may modify the form prescribed in
s. DFI-SB 4.01 to reflect an accounting practice or standard adopted under
sub. (3).
DFI-SB 4.02(5)
(5) When available. Each savings bank shall make available to all members or stockholders and potential members or stockholders the printed statement of condition and operations provided under s.
214.76 (5) (b), Stats., not later than 5 days before the annual meeting of members or stockholders.
DFI-SB 4.02 Note
Note: This section interprets or implements s.
214.76, Stats.
DFI-SB 4.02 History
History: Cr.
Register, February, 1994, No. 458, eff. 3-1-94.
DFI-SB 4.03
DFI-SB 4.03
Publication requirement. The annual report as submitted to the commissioner under s.
214.76 (5), Stats., is designated as the condensed form of the annual report which shall be published as a class 1 notice under
ch. 985, Stats., in the community in which the savings bank maintains its home office. In addition, the notice shall be published in each community in which a savings bank has a branch office or a limited office, in a newspaper of general circulation in that community. Proof of publication of this condensed form shall be submitted to the commissioner within 60 days after the date of the report.
DFI-SB 4.03 Note
Note: This section interprets or implements s.
214.76, Stats.
DFI-SB 4.03 History
History: Cr.
Register, February, 1994, No. 458, eff. 3-1-94.
