Pennsylvania Statutes Title 7 P.S. Banks and Banking § 6020-26. Approval of proposed association by department

(1) The articles and supporting items satisfy the requirements of this act,

(2) The convenience and needs of the public will be served by the proposed association,

(3) The population density or other economic characteristics of the area primarily to be served by the association afford reasonable promise of adequate support for the association,

(4) The character and fitness of the incorporators, of the directors and of the proposed officers are such as to command confidence of the community and to warrant the belief that the business of the association will be honestly and efficiently conducted,

(5) There has not been nor will there be any violation of section 202,  1

(6) The amount of savings, which will be attracted to the association, shall be adequate properly to operate the association with safety to prospective members, and such savings will be insured by the Federal Savings and Loan Insurance Corporation or by any other public or private corporation authorized by law to insure accounts of savings associations and approved by the Department of Banking,

(7) The proposed association will have sufficient personnel with adequate knowledge and experience to administer the business of the association, and

(8) In the case of a permanent reserve fund stock association, the capital and capital surplus thereof are adequate in relation to the amount and character of the anticipated business of the association.