Pennsylvania Statutes Title 7 P.S. Banks and Banking § 1007. Approval of proposed institution by department

(i) the articles and supporting items satisfy the requirements of this act;

(ii) the convenience and needs of the public will be served by the proposed institution;

(iii) the population density or other economic characteristics of the area primarily to be served by the proposed institution afford reasonable promise of adequate support for the institution;

(iv) the character and fitness of the incorporators, of the directors or trustees and of the proposed officers are such as to command the confidence of the community and to warrant the belief that the business of the proposed institution will be honestly and efficiently conducted;

(v) there has been or will be any violation of section 1003;  1

(vi) except in the case of a mutual savings bank, the capital structure of the proposed institution is adequate in relation to the amount and character of the anticipated business of the institution and the safety of prospective depositors; and

(vii) the proposed institution will have sufficient personnel with adequate knowledge and experience to administer fiduciary accounts, if the institution were authorized to act as fiduciary.