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{\title IN THE SUPREME COURT OF GUAM}{\author lroberto}{\operator blake_r}{\creatim\yr2005\mo8\dy12\hr9\min4}{\revtim\yr2006\mo3\dy10\hr10\min48}{\version4}{\edmins3}{\nofpages14}{\nofwords5981}{\nofchars34094}{\*\company Superior Court of Guam}
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\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\i\f39\fs20\insrsid16269916 Bank of Guam v. Guam Banking Board}{\f39\fs20\insrsid16269916 , Opinion\tab \tab Page }{\field{\*\fldinst {\f39\fs20\insrsid16269916 PAGE }}{\fldrslt {
\f39\fs20\lang1024\langfe1024\noproof\insrsid3739202 14}}}{\f39\fs20\insrsid16269916  of 20
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\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\b\insrsid16269916\charrsid3739202 IN THE SUPREME COURT OF GUAM}{\insrsid3739202 
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\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid16269916\charrsid3739202 BANK OF GUAM, a Guam territorial bank,
\par }{\insrsid16269916\charrsid3739202 Petitioner-Appellant,
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\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid16269916\charrsid3739202 vs.}{\insrsid16269916\charrsid3739202 
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\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid16269916\charrsid3739202 GUAM BANKING BOARD, GEORGE V. CRUZ,
\par CLIFFORD GUZMAN, TOM MICHAELS, ROSITA OWEN,
\par ROBERT H. KONO (IN THEIR OFFICIAL CAPACITIES
\par AS MEMBERS OF THE GUAM BANKING BOARD),
\par }{\insrsid16269916\charrsid3739202 Respondents-Appellees,
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\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid16269916\charrsid3739202 FIRST HAWAIIAN BANK,
\par }{\insrsid16269916\charrsid3739202 Real Party in Interest-Appellee.}{\insrsid3739202 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\insrsid3739202 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\insrsid16269916\charrsid3739202 Supreme Court Case No. CVA02-010
\par Superior Court Case No. SP0234-01}{\insrsid3739202 
\par 
\par }{\b\insrsid16269916\charrsid3739202 OPINION}{\insrsid3739202 
\par 
\par }{\b\insrsid16269916\charrsid3739202 Filed:}{\b\insrsid3739202  }{\b\insrsid16269916\charrsid3739202 May 12, 2003}{\insrsid3739202 
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\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid16269916\charrsid3739202 Cite as:}{\b\insrsid3739202  }{\b\insrsid16269916\charrsid3739202 2003 Guam 9}{\insrsid3739202 
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\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\insrsid16269916\charrsid3739202 Appeal from the Superior Court of Guam
\par Argued and submitted on February 10, 2003
\par Hag\'e5t\'f1a, Guam
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\par }{\ul\insrsid16269916\charrsid3739202 Appearing for the Petitioner-Appellant}{\insrsid16269916\charrsid3739202 :
\par Duncan G. McCully, }{\i\insrsid16269916\charrsid3739202 Esq.}{\insrsid16269916\charrsid3739202 
\par McCully & Beggs, P.C.
\par 139 Murray Blvd.
\par Hag\'e5t\'f1a, Guam 96910
\par 
\par Howard, Rice, Nemerovski, Canady, Falk 
\par }\pard \ql \fi720\li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0\pararsid3739202 {\insrsid16269916\charrsid3739202 & Rabkin, P.C.
\par }\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0\pararsid3739202 {\insrsid16269916\charrsid3739202 Three Embarcadero Center, 7th Floor
\par San Francisco, California 94111\cell 
\par }{\ul\insrsid16269916\charrsid3739202 Appearing for the Real Party in Interest-}{\insrsid16269916\charrsid3739202 
\par }\pard \ql \fi720\li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0\pararsid3739202 {\ul\insrsid16269916\charrsid3739202 Appellees}{\insrsid16269916\charrsid3739202 :
\par }\pard \ql \li0\ri0\nowidctlpar\intbl\faauto\rin0\lin0\pararsid3739202 {\insrsid16269916\charrsid3739202 Richard L. Johnson, }{\i\insrsid16269916\charrsid3739202 Esq.}{\insrsid16269916\charrsid3739202 
\par Klemm, Blair, Sterling & Johnson, P.C.
\par Suite 1008, Pacific News Bldg.
\par 238 Archbishop F.C. Flores St.
\par Hag\'e5t\'f1a, Guam 96910}{\insrsid3739202 
\par 
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\par }{\insrsid16269916\charrsid3739202 BEFORE:}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 PETER C. SIGUENZA, JR., Chief Justice, Acting; RICHARD H. BENSON and ALEXANDRO C. CASTRO, Justices }{\i\insrsid16269916\charrsid3739202 Pro Tempore}{
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{\f39\fs20\insrsid16269916 The Honorable Peter C. Siguenza, Jr. retired as Chief Justice before oral arguments.  He was appointed Justice }{\i\f39\fs20\insrsid16269916 Pro Tempore}{\f39\fs20\insrsid16269916  on January
 29, 2003 and designated Acting Chief Justice in this matter.}}}{\insrsid16269916\charrsid3739202 .}{\insrsid3739202 
\par 
\par }{\b\insrsid16269916\charrsid3739202 BENSON, J.:}{\insrsid16269916\charrsid3739202 
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [1]}{\insrsid16269916\charrsid3739202 \tab The Bank of Guam opposed First Hawaiian Bank}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202 s (}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 First Hawaiian}{\insrsid16269916\charrsid3739202 
{\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 ) application to the Guam Banking Board (}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 Banking Board}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
) for the establishment of a new First Hawaiian branch in Tamuning.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Bank of Guam argues that (1) the opening of an additional branch by an out-of-state bank was prohibited by 11 GCA }{
\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  106601(c), and (2) the acquisition of a branch was prohibited by 11 GCA }{
\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  106355(b).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
First Hawaiian contends that section 106601(c) is preempted by the Riegle-Neal Act, and that section 106355 is inapplicable to its application.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 The Banking Board approved First Hawaiian}{
\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s application and Bank of Guam petitioned the Superior Court for review of that decision.}{
\insrsid3739202  }{\insrsid16269916\charrsid3739202 The Superior Court affirmed the Banking Board}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
s decision and Bank of Guam appealed.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 We affirm, concluding that section 106601(c) is 
preempted by federal law, and that section 106355 is inapplicable to intrastate branching by an out-of-state state bank with an already existing branch in Guam.
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid16269916\charrsid3739202 I.}{\insrsid16269916\charrsid3739202 
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [2]}{\insrsid16269916\charrsid3739202 \tab In May 2001, First Hawaiian entered into two separate agreements with Union Bank of California (}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 Union Bank}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 ).}{
\insrsid3739202  }{\insrsid16269916\charrsid3739202 The first, a Purchase and Assumptions Agreement (}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
P&A Agreement}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 ), involved the sale of Union Bank}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst 
SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s assets to and the assumption of its liabilities by First Hawaiian.}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 See generally}{
\insrsid16269916\charrsid3739202  Appellant}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s Excerpts of Record, vol. 1, p
p. 68-132 (Purchase and Assumption Agreement).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 The second agreement was a sublease by Union Bank of its Tamuning branch premises to First Hawaiian.}{\insrsid3739202  }{
\i\insrsid16269916\charrsid3739202 See generally}{\insrsid16269916\charrsid3739202  Appellant}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
s Excerpts of Record, vol. 1, pp. 119-132 (Loan Sale and Assignment Agreement).
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [3]}{\insrsid16269916\charrsid3739202 \tab The P&A Agreement was submitted to the Federal Deposit Insurance Corporation (}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 FDIC}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 ) for approval pursua
nt to the Federal Deposit Insurance Act }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  18(c).}{\insrsid3739202  }{
\i\insrsid16269916\charrsid3739202 See generally}{\insrsid16269916\charrsid3739202  Appellant}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
s Excerpts of Record, vol. 1, pp. 32-290 (Interagency Bank Merger Application).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 In its application to the FDIC, First Hawaiian stated that the P&A Agreement }{\insrsid16269916\charrsid3739202 
{\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 does not contemplate that [First Hawaiian] will assume Union}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s real property leases for Union}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202 s two branches on Guam.}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 Id.}{
\insrsid16269916\charrsid3739202  at 36.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 However, First Hawaiian stated that it did }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt
\f36\fs24}}}{\insrsid16269916\charrsid3739202 expect to offer employment to some of [UBC}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
s] employees . . . .}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 Id.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
The FDIC approved the application on October 5, 2001. 
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [4]}{\insrsid16269916\charrsid3739202 \tab Prior to receiving FDIC approval of its P&A Agreement, First Hawaiian applied to the Bank
ing Board, seeking approval for the establishment of a First Hawaiian branch at the same location where Union Bank was operating its branch.}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 See generally}{\insrsid16269916\charrsid3739202  Appellant}
{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s Excerpts of Record, vol. 2, pp. 311-66 (Application to Establish a Branch Office).}{\insrsid3739202 
 }{\insrsid16269916\charrsid3739202 In its application, First Hawaiian acknowledged that 11 GCA }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
 106601(c) prohibits its opening of an additional branch, but justified its application by arguing that 12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202  1831a(j)(1) preempts the Guam statute and empowers First Hawaiian to open an additional branch on the same basis as territorial banks.}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 See id.}{
\insrsid16269916\charrsid3739202  at 366 (Exhibit C).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 The Banking Board approved First Hawaiian}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s application on October 30, 2001, bypassing section 106601(c) and relying on the factors set forth in 11 GCA }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  106601(b).}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 See}{\insrsid16269916\charrsid3739202  Appellant}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst 
SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s Excerpts of Record, vol. 2, p. 531-32.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [5]}{\insrsid16269916\charrsid3739202 \tab First Hawaiian followed its application to the Banking Board with an application to the FDIC for approval to establish an additional branch.}{\insrsid3739202  }{
\i\insrsid16269916\charrsid3739202 See }{\insrsid16269916\charrsid3739202 Appellant}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
s Excerpts of Record, vol. 2, pp. 534-67.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 The FDIC agreed with First Hawaiian}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202 s analysis of 12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
 1831a(j)(1), finding that it preempts 11 GCA }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  106601(c) and stating that }{
\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 a
n out-of-State, State-chartered bank with a branch in Guam, including specifically First Hawaiian, may establish additional branches in Guam to the same extent that a Guam-chartered bank may establish additional branches in Guam.}{
\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  Appellant}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s Excerpts of Record, vol. 2, p. 615.
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [6]}{\insrsid16269916\charrsid3739202 \tab Bank of Guam petitioned the Superior Court of Guam for review of the Banking Board decision granting First Hawaiian}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL
 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s application to establish an additional branch.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 The lower court found that 11 GCA }{
\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  106601(c) was preempted by 12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL
 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  36(c) and 12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202  1831a(j)(1).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Because the Banking Board found that First Hawaiian}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s branch met the requirements for branching set by section 106601(b), the lower court affirmed the Banking Board}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s decision to grant First Hawaiian}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202 s application to establish an additional branch and dismissed BOG}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
s petition.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 BOG now appeals from the lower court}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
s judgment.
\par 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid16269916\charrsid3739202 II.}{\insrsid16269916\charrsid3739202 
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [7]}{\insrsid16269916\charrsid3739202 \tab This court has jurisdiction over final judgments of the Superior Court pursuant to Title 7 GCA }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}{\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  3107 and 3108 (1994).
\par 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid16269916\charrsid3739202 III.}{\insrsid16269916\charrsid3739202 
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [8]}{\insrsid16269916\charrsid3739202 \tab The issues before us are: (1) whether federal law preempts 11 GCA }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt
\f36\fs24}}}{\insrsid16269916\charrsid3739202  106601(c), and (2) whether 11 GCA }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
 106355 applies to the establishment by First Hawaiian of an additional, intrastate branch.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 A question of preemption is purely a question of law, and is reviewed }{\i\insrsid16269916\charrsid3739202 
de novo.}{\i\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 See Ada v. Guam Tel. Auth.}{\insrsid16269916\charrsid3739202 , 1999 Guam 10, }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 38 \\f "WP TypographicSymbols" \\s 12}{\fldrslt
\f36\fs24}}}{\insrsid16269916\charrsid3739202  10; }{\i\insrsid16269916\charrsid3739202 see also Bank of Am. v. San Francisco}{\insrsid16269916\charrsid3739202 , 309 F.3d 551, 557 (9th Cir. 2002).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
Moreover, }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 an agency}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s interpretation of a statute is a question of law reviewed de novo.}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 Ada}{\insrsid16269916\charrsid3739202 , 1999 Guam 10 at }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 38 \\f "WP TypographicSymbols" \\s 12}{\fldrslt
\f36\fs24}}}{\insrsid16269916\charrsid3739202  10.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Questions of statutory interpretation are questions of law reviewed de novo.}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 Id.}{
\insrsid16269916\charrsid3739202 
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 A.}{\b\insrsid3739202  }{\b\insrsid16269916\charrsid3739202 Preemption}{\insrsid16269916\charrsid3739202 
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [9]}{\insrsid16269916\charrsid3739202 \tab Preemption arises under the Supremacy Clause of the United States Constitution, which states that }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 [t]he Laws of the United States . . . shall be the supreme Law of the Land; and the Ju
dges in every States shall be bound thereby; any Thing in the Constitution or the Laws of any State to the Contrary notwithstanding.}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid3739202  }{\scaps\insrsid16269916\charrsid3739202 U.S. Const.}{\insrsid16269916\charrsid3739202  art. VI, cl. 2.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 In other words, }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL
 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 state law that conflicts with federal law is }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 62 \\f "WP TypographicSymbols" \\s 12}{\fldrslt
\f36\fs24}}}{\insrsid16269916\charrsid3739202 without effect.}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  }{\i\insrsid16269916\charrsid3739202 Smiley v. Citibank}{\insrsid16269916\charrsid3739202 , 900 P.2d 690, 695-96, (Cal. 1995) (citation omitted), }{
\i\insrsid16269916\charrsid3739202 aff}{\i\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\i\insrsid16269916\charrsid3739202 d}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
517 U.S. 735, 116 S.Ct. 1730 (1996).}{\b\insrsid16269916\charrsid3739202 
\par }{\b\insrsid3739202 
\par }\pard \qj \fi720\li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid16269916\charrsid3739202 1.}{\b\insrsid3739202  }{\b\insrsid16269916\charrsid3739202 Presumption Against Preemption
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [10]\tab }{\insrsid16269916\charrsid3739202 If the state statute in question regulates an area that falls within a state}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s historic police powers, then a presumption arises against the preemption of state law.}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 Id.}{\insrsid16269916\charrsid3739202  at 696.}{
\insrsid3739202  }{\insrsid16269916\charrsid3739202 This presumption can be overcome only by showing that the superceding of state power was the }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt
\f36\fs24}}}{\insrsid16269916\charrsid3739202 clear and manifest purpose of Congress.}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid3739202  }{
\i\insrsid16269916\charrsid3739202 Id.}{\insrsid16269916\charrsid3739202  (citation and quotation omitted); }{\i\insrsid16269916\charrsid3739202 see also Nat}{\i\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\i\insrsid16269916\charrsid3739202 l State Bank v. Long}{\insrsid16269916\charrsid3739202 , 630 F.2d 981, 985 (3d Cir. 1980).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
Thus, this court must first determine whether banking is an area traditionally within a state}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
s police powers. 
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [11]}{\insrsid16269916\charrsid3739202 \tab First Hawaiian, relying on }{\i\insrsid16269916\charrsid3739202 Bank of America v. San Francisco, }{\insrsid16269916\charrsid3739202 asserts that the presumption agai
nst preemption does not apply to the instant matter.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 In that case, the Ninth Circuit stated:
\par }\pard \qj \li0\ri720\nowidctlpar\faauto\rin720\lin0\itap0\pararsid3739202 {\insrsid3739202 
\par }\pard \qj \li720\ri720\nowidctlpar\faauto\rin720\lin720\itap0\pararsid3739202 {\insrsid16269916\charrsid3739202 [T]he presumption is not triggered when the State regulates in an area where there has been a history of significant federal presence.}{
\insrsid3739202  }{\insrsid16269916\charrsid3739202 Congress has legislated in the field of banking from the days of }{\i\ul\insrsid16269916\charrsid3739202 M}{\i\ul\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\i\ul\insrsid16269916\charrsid3739202 Culloch v. Maryland}{\ul\insrsid16269916\charrsid3739202 , 17 U.S. (4 Wheat.) 316, 326-36, 426-27, 4 L. Ed. 579 (1819)}{\insrsid16269916\charrsid3739202 
, creating an extensive federal statutory and regulatory scheme. . . .}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Indeed, since the passage of the National Bank Act in 1864, the federal presence in banking has been significant. 
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\insrsid16269916\charrsid3739202 
\par }{\i\insrsid16269916\charrsid3739202 Bank of Am.}{\insrsid16269916\charrsid3739202 , 309 F.3d at 558 (citations omitted).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 The court concluded by stating that }{\insrsid16269916\charrsid3739202 
{\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 because there has been a }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 62 \\f "WP TypographicSymbols" \\s 12}{\fldrslt
\f36\fs24}}}{\insrsid16269916\charrsid3739202 history of significant federal presence}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
 in national banking, the presumption against preemption of state law is inapplicable.}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid3739202  }{
\i\insrsid16269916\charrsid3739202 Id.}{\insrsid16269916\charrsid3739202  at 559 (citations omitted). 
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [12]}{\insrsid16269916\charrsid3739202 \tab However, }{\i\insrsid16269916\charrsid3739202 Bank of America }{\insrsid16269916\charrsid3739202 involved the state regulation of a }{\b\i\insrsid16269916\charrsid3739202 
national}{\insrsid16269916\charrsid3739202  bank, whereas the instant matter involves the state regulation of an out-of-state }{\b\i\insrsid16269916\charrsid3739202 state}{\insrsid16269916\charrsid3739202  bank.}{\insrsid3739202  }{
\insrsid16269916\charrsid3739202 The Ninth Circuit, in concluding that the presumption would not arise, focused on a state law}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202 s interference with the exercise of a national bank}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s powers.}{
\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 See id.}{\insrsid16269916\charrsid3739202  at 558-59.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 No parallel situation exists here.
\par 
\par }{\b\insrsid16269916\charrsid3739202 [13]}{\insrsid16269916\charrsid3739202 \tab Moreover, the California Supreme Court and the Third Circuit take a position contrary to that of the Ninth Circuit.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
The Third Circuit, in }{\i\insrsid16269916\charrsid3739202 National State Bank v. Long}{\insrsid16269916\charrsid3739202 , stated that }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}
{\insrsid16269916\charrsid3739202 [w]hatever may be the history of federal-state relations in other fields, regulation of banking has been one of dual control since the passage of the first National Bank Act in 1863.}{\insrsid16269916\charrsid3739202 
{\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 National State Bank v. Long}{\insrsid16269916\charrsid3739202 , 630 F.2d 981, 985 (3d Cir. 1980).}{\insrsid3739202 
 }{\insrsid16269916\charrsid3739202 Relying on this language, the California Supreme Court held that the historic police powers of the state extend to banking, and therefore the presumption against preemption applies to state regulation of banks.}{
\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 Smiley}{\insrsid16269916\charrsid3739202 , 900 P.2d at 696; }{\i\insrsid16269916\charrsid3739202 Peatros v. Bank of Am.}{\insrsid16269916\charrsid3739202 , 990 P.2d 539, 543}{\insrsid3739202  }{
\insrsid16269916\charrsid3739202 (Cal. 2000). 
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [14]}{\insrsid16269916\charrsid3739202 \tab Here, we are dealing with a state regulation as applied to a state bank.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 While Congress c
learly regulates the area of banking, including branching by state banks, }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
congressional support remains for dual regulation.}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 Long}{
\insrsid16269916\charrsid3739202 , 630 F.2d at 985.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 In passing the R
iegle-Neal Act, Congress recognized the significant presence of state control in the regulation of banking, including the regulation of national banks, stating that: 
\par }\pard \qj \li0\ri720\nowidctlpar\faauto\rin720\lin0\itap0\pararsid3739202 {\insrsid3739202 
\par }\pard \qj \li720\ri720\nowidctlpar\faauto\rin720\lin720\itap0\pararsid3739202 {\insrsid16269916\charrsid3739202 Under well-established judicial principles, national banks are subject to State law in may significant respects.}{\insrsid3739202  }{
\insrsid16269916\charrsid3739202 The laws of the State in which a national bank is situated will apply to a national bank unless those State laws are preempted by Federal law. . . .}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
Courts generally use a rule of construction that avoids finding a conflict between the Federal and State law where possible.}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 The title does not change these judicially established principles.}{
\insrsid16269916\charrsid3739202 
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\insrsid16269916\charrsid3739202 
\par }{\scaps\insrsid16269916\charrsid3739202 H.R. Rep. No.}{\insrsid16269916\charrsid3739202  103-651, at 53 (1994), }{\i\insrsid16269916\charrsid3739202 reprinted in}{\insrsid16269916\charrsid3739202  1994 U.S.C.C.A.}{\insrsid3739202 
N. 2068, 2074 (emphasis added).}{\insrsid16269916 
\par }{\insrsid3739202\charrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [15]}{\insrsid16269916\charrsid3739202 \tab Since states traditionally possess a sig
nificant amount of authority to regulate the area of banking, and because we are dealing solely with banking at a state level, we find that the presumption against preemption does arise.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
Applying this standard, the issue before us is whether it was the clear and manifest purpose of Congress, in enacting the Riegle-Neal Act, to preempt laws such as 11 GCA }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}{\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  106601(c) and 106355(b).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
The question is one focused on Congressional intent.}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 Smiley}{\insrsid16269916\charrsid3739202 , 900 P.2d at 696; }{\i\insrsid16269916\charrsid3739202 Bank of Am.}{\insrsid16269916\charrsid3739202 
, 309 F.3d at 558.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
\par }{\b\insrsid3739202 
\par }\pard \qj \fi720\li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid16269916\charrsid3739202 2.}{\b\insrsid3739202  }{\b\insrsid16269916\charrsid3739202 Type of Preemption}{\insrsid16269916\charrsid3739202 
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [16]}{\insrsid16269916\charrsid3739202 \tab 
There are three general types of preemption: (1) express preemption, wherein Congress explicitly defines the extent to which its enactment preempts state law; (2) field preemption, wherein Congress}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst 
SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  regulation of
 a field is so pervasive as to leave no room for a State to supplement it; and (3) conflict preemption, wherein a state law actually conflicts with federal law.}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 Smiley}{
\insrsid16269916\charrsid3739202  , 900 P.2d at 696; }{\i\insrsid16269916\charrsid3739202 Bank of Am.}{\insrsid16269916\charrsid3739202 , 309 F.3d at 558.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Because Congress has not expressed an
 intent to exclusively supplant state branching laws, and because we are dealing with an area subject to the dual control of federal and state authority, the first and second types of preemptions are inapplicable.}{\insrsid3739202  }{
\insrsid16269916\charrsid3739202 We focus instead on whether an actual conflict exists between Guam}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
s branching prohibitions and federal regulations.
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [17]}{\insrsid16269916\charrsid3739202 \tab An actual conflict arises when }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202 it is impossible to comply with both state and federal requirements or when state law stands as an obstacle to the accomplishment and execution of the full purposes and objectives underlying federal law.}{
\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 Peatros}{\insrsid16269916\charrsid3739202 , 990 P.2d
 at 543 (internal quotations and citations omitted).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 We must determine whether 11 GCA }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt
\f36\fs24}}{\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  106601(c) and 106355(b) stand as obstacles to the fulfillment of Riegle-Neal.
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 B.}{\b\insrsid3739202  }{\b\insrsid16269916\charrsid3739202 Intrastate Branching
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [18]\tab }{\insrsid16269916\charrsid3739202 Section 106601(c) states:
\par }\pard \qj \li0\ri720\nowidctlpar\faauto\rin720\lin0\itap0\pararsid3739202 {\insrsid3739202 
\par }\pard \qj \li720\ri720\nowidctlpar\faauto\rin720\lin720\itap0\pararsid3739202 {\insrsid16269916\charrsid3739202 
No out-of-state bank having a branch office in Guam as of the effective date of this Act may establish any additional branches except and until it engages in an interstate merger transaction with a territorial bank.
\par }\pard \qj \li0\ri720\nowidctlpar\faauto\rin720\lin0\itap0\pararsid3739202 {\insrsid16269916\charrsid3739202 
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\insrsid16269916\charrsid3739202 11 GCA }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202  106601(c).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 The opening of First Hawaiian}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202 s Tamuning branch clearly violates this provision since First Hawaiian is opening an additional branch without first engaging in an interstate merger transaction with a Guam bank.}{\insrsid3739202  }{
\insrsid16269916\charrsid3739202 However, the Banking Board bypassed this provision and approved First Hawaiian}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202 s application under the standards set forth in section 106601(b), presumably because it agreed with First Hawaiian=s argument that section 106601(c) was preempted by federal law.}{\insrsid3739202  }{
\insrsid16269916\charrsid3739202 The lower court affirmed the Banking Board}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s ruling and found that 1
1 GCA }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  106601(c) was preempted by a combined reading of Title 12 U.S.C. }{
\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}{\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
 36(c) and 1831a(j)(1).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Bank of Guam a
rgues that the lower court erred in finding that section 36(c) can be extended to empower not only national, but also state banks through section 1831a(j)(1), to branch on an equal basis with local banks.
\par }{\b\insrsid3739202 
\par }\pard \qj \fi720\li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid16269916\charrsid3739202 1.}{\b\insrsid3739202  }{\b\insrsid16269916\charrsid3739202 Plain Language}{\insrsid16269916\charrsid3739202 
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [19]}{\insrsid16269916\charrsid3739202 \tab }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
In cases involving statutory construction, the plain language of a statute must be the starting point.}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid3739202  }{
\i\insrsid16269916\charrsid3739202 Pangelinan v. Gutierrez}{\insrsid16269916\charrsid3739202 , 2000 Guam 11, }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 38 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202  23.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 There are several statutory provisions before us dealing with the state regulation of out-of-state banks, each of which requires statutory construction.}{
\insrsid3739202  }{\insrsid16269916\charrsid3739202 Thus, we must begin our analysis with a review of each provision}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202 s plain language.}{\insrsid3739202 
\par 
\par }{\b\insrsid16269916\charrsid3739202 a.}{\b\insrsid3739202  }{\b\insrsid16269916\charrsid3739202 Section 1831a(j)(1)}{\b\insrsid16269916 
\par }{\insrsid3739202\charrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [20]}{\insrsid16269916\charrsid3739202 \tab Title 12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
 1831a(j)(1) is the provision of the Riegle-Neal Act that deals with the establishment of an additional branch, or }{\i\insrsid16269916\charrsid3739202 intra}{\insrsid16269916\charrsid3739202 state branching, by out-of-state state banks.}{\insrsid3739202 
 }{\insrsid16269916\charrsid3739202 This section reads:
\par }\pard \qj \li0\ri720\nowidctlpar\faauto\rin720\lin0\itap0\pararsid3739202 {\insrsid3739202 
\par }\pard \qj \li720\ri720\nowidctlpar\faauto\rin720\lin720\itap0\pararsid3739202 {\insrsid16269916\charrsid3739202 
The laws of a host State, including laws regarding community reinvestment, consumer protection, fair lending, and establishment of intrastate branches, shall apply to any branch in the host State of an out-
of-state State bank to the same extent as such State laws apply to a branch in the host State of an out-of-State national bank.
\par }\pard \qj \li0\ri720\nowidctlpar\faauto\rin720\lin0\itap0\pararsid3739202 {\insrsid16269916\charrsid3739202 
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\insrsid16269916\charrsid3739202 12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202  1831a(j)(1).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 The plain language of this statute permits a host state to impose restrictions on intrastate branching by an out-of-state state bank.}{\insrsid3739202  }{
\insrsid16269916\charrsid3739202 Thus, we agree with Bank of Guam}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
s position that section 1831a(j)(1) recognizes a state}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s 
authority to enact statutes restricting intrastate branching by an out-of-state state bank.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 However, the plain language of section 1831a(j)(1) also demands equal applicability of those restrictions.}{
\insrsid3739202  }{\insrsid16269916\charrsid3739202 Thus, a state can impose restrictions on intrastate branching by an out-of-state state bank, but only to the extent that it also imposes that restriction on an out-of-state national bank.}{
\insrsid16269916 
\par }{\insrsid3739202\charrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [21]}{\insrsid16269916\charrsid3739202 \tab Bank of Guam argues that in enacting the Riegle-Neal Act, }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt
\f36\fs24}}}{\insrsid16269916\charrsid3739202 Congress did not intend to prohibit Guam from continuing to prevent out-of-state state banks with existing branches from establishing additional branches . . . .}{\insrsid16269916\charrsid3739202 
{\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Appellant}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt
\f36\fs24}}}{\insrsid16269916\charrsid3739202 s Brief, p. 7.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 We disagree.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 The plain language of section 1831 reflects Congress}{
\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  desire to take out of a state}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s hands, not the power to regulate, but the power to discriminate.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
This reading is not a finding that the state power to regulate intrastate branching has been }{\i\insrsid16269916\charrsid3739202 rescinded}{\insrsid16269916\charrsid3739202 , only that it has been }{\i\insrsid16269916\charrsid3739202 restricted}{
\insrsid16269916\charrsid3739202 .}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Thus, we find that Congress }{\i\insrsid16269916\charrsid3739202 did }{\insrsid16269916\charrsid3739202 intend to prohibit Gua
m from continuing to prevent out-of-state state banks with existing branches from establishing additional branches, }{\i\insrsid16269916\charrsid3739202 if }{\insrsid16269916\charrsid3739202 
out-of-state national banks were not also prevented from doing so.}{\insrsid16269916 
\par }{\insrsid3739202\charrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [22]}{\insrsid16269916\charrsid3739202 \tab Therefore, a Guam intrastate branching restriction, such as 11 GCA }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  106601(c), applies to an out-of-state state bank such as First Hawaiian only if it also applies to an out-of-state national bank.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
However, section 106601(c) does not apply to out-of-state national banks.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Although the language of section 106601(c) includes all }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 out-of-state}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
 banks, two separate federal laws preclude its application to any out-of-state national bank.}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 See}{\insrsid16269916\charrsid3739202  12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst 
SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}{\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  36(c) and 36(f)(1)(A).
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 b.}{\b\insrsid3739202  }{\b\insrsid16269916\charrsid3739202 Section 36(c)}{\insrsid16269916\charrsid3739202 
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [23]}{\insrsid16269916\charrsid3739202 \tab The first of these two federal statutes is 12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202  36(c), which states:}{\insrsid16269916 
\par }{\insrsid3739202\charrsid3739202 
\par }\pard \qj \li720\ri720\nowidctlpar\faauto\rin720\lin720\itap0\pararsid3739202 {\insrsid16269916\charrsid3739202 
A national banking association may . . . establish and operate new branches . . . (2) at any point within the State in which said association is situated, if such establishment and operation are at the time authorized to State banks by the statut
e law of the State in question . . . .
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\insrsid16269916\charrsid3739202 
\par 12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  36(c).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
This statute empowers national banks to establish an intrastate branch on the same basis as a host state bank.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Since a local bank is not required to comply with 11 GCA }{
\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
 106601(c) and engage in an interstate merger transaction before branching, then a national bank cannot be required to comply with section 106601(c) either.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Thus, section 106601(c) does not app
ly to a national bank; it has been preempted by federal law.
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [24]}{\insrsid16269916\charrsid3739202 \tab Because section 106601(c) does not apply to an out-of-state national bank, it cannot apply to an out-of-state state bank.}{\insrsid3739202  }{
\i\insrsid16269916\charrsid3739202 See}{\insrsid16269916\charrsid3739202  12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  1831a(j)(1).}{
\insrsid3739202  }{\insrsid16269916\charrsid3739202 This interpretation is not, as argued by Bank of Guam, the equivalent of a finding that section 1831a(j)(1) }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 empowers}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  
out-of-state state banks to intrastate branch, nor are we permitting out-of-state state banks to }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
piggyback}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  onto branching rights granted to national banks.}{\insrsid3739202  }{
\insrsid16269916\charrsid3739202 Moreover, contrary to Bank of Guam}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
s assertions, we do not need to find that Congress conveyed affirmative branching rights to state banks in order to find preemption.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 It is a bank}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst 
SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
s home state that empowers its banks to branch, and if a home state authorizes its chartered banks to branch within the state, our interpretation of section 1831a(j)(1) simply prohibits the host state from restricting that bank}{
\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s branching in a manner different from the manner in which it restricts branching by a national bank.}{
\insrsid3739202  }{\insrsid16269916\charrsid3739202 Applying this reading to 11 GCA }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid3739202  }{
\insrsid16269916\charrsid3739202 
106601(c), we find that because an out-of-state national bank cannot be required to engage in an interstate merger transaction with a local bank before intrastate branching, an out-of-state state bank cannot be required to do so either.}{\insrsid3739202  
}{\insrsid16269916\charrsid3739202 In other words, section 106601(c), as applied to intrastate branching by an out-of-state state bank, is preempted by a combined reading of 12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}{\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 1831a(j)(1) and 36(c).
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 c.}{\b\insrsid3739202  }{\b\insrsid16269916\charrsid3739202 Section 36(f)(1)(A)}{\insrsid16269916\charrsid3739202 
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [25]}{\insrsid16269916\charrsid3739202 \tab Preemption of 11 GCA }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202  106601(c) can also be found through a combined reading of 12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}{\field{\*\fldinst SYMBOL 39 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  1831a(j)(1) and 36(f)(1)(A).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Section 36(f)(1)(A) states:
\par }\pard \qj \li0\ri720\nowidctlpar\faauto\rin720\lin0\itap0\pararsid3739202 {\insrsid3739202 
\par }\pard \qj \li720\ri720\nowidctlpar\faauto\rin720\lin720\itap0\pararsid3739202 {\insrsid16269916\charrsid3739202 
The laws of the host State regarding community reinvestment, consumer protection, fair lending, and establishment of intrastate branches shall apply to any branch in the host State of an out-of-State nati
onal bank to the same extent as such State laws apply to a branch of a bank chartered by that State . . . .
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\insrsid16269916\charrsid3739202 
\par 12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  36(f)(1)(A).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
As emphasized by BOG, section 36(f)(1)(A) is another example of federal law expressly authorizing a state to regulate intrastate branching.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
However, the plain language of the section again demands equal application in the exercise of that authority.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 This provision subjects an out-of-state national bank to Guam law
 in the area of intrastate branching, but only to the extent that such law also applies to a host state bank.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Since 11 GCA }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  106601(c) does not apply to a host state bank, then it cannot be applied to an out-of-state national bank.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
If section 106601(c) cannot be applied to an out-of-state national bank, then 12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
 1831a(j)(1) prohibits its application to an out-of-state state bank.}{\insrsid16269916 
\par }{\insrsid3739202\charrsid3739202 
\par }\pard \qj \fi720\li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid16269916\charrsid3739202 2.}{\b\insrsid3739202  }{\b\insrsid16269916\charrsid3739202 Extrinsic Support}{\insrsid16269916\charrsid3739202 
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [26]}{\insrsid16269916\charrsid3739202 \tab We find the plain language of the above statutes to be conclusive and sufficient to decide the instant matter.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 However, }
{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 ascertainment of the meaning apparent on the face of a single statute need not end the inquiry
. . . . [T]he plain\_meaning rule is }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 62 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
rather an axiom of experience than a rule of law, and does not preclude consideration of persuasive evidence if it exists.}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 Watt v. Alaska}{\insrsid16269916\charrsid3739202 
, 451 U.S. 259, 266, 101 S. Ct. 1673, 1677-78 (1981) (internal citations omitted).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 In this instance, an examination of the legislative history of the Riegle-Neal Act, and the decisions of the agenci
es responsible for its implementation and enforcement, are exceedingly strong and reinforce our statutory interpretations.}{\insrsid16269916 
\par }{\insrsid3739202\charrsid3739202 
\par }\pard \qj \fi1440\li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid16269916\charrsid3739202 a.}{\b\insrsid3739202  }{\b\insrsid16269916\charrsid3739202 Legislative Intent}{\insrsid16269916\charrsid3739202 
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [27]}{\insrsid16269916\charrsid3739202 \tab Our interpretation of the plain language of each statue is consistent with the legislative history behind Riegle-Neal. In its current form, 12 U.S.C. }{
\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  1831(a)(j)(1) was passed as part of the Riegle-Neal Clarification Act of 1997.}{\insrsid3739202  }{
\insrsid16269916\charrsid3739202 A review of the changes made to the language of the statute and the testimony accompa
nying those changes reveals that a chief aim in clarifying Riegle-Neal was to provide parity between state and national banks in the face of host state intrastate branching laws.
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [28]}{\insrsid16269916\charrsid3739202 \tab In its original form, section 1831a(j)(1) reads }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202 [t]he laws of a host state regarding . . . establishment of intrastate branches, shall apply to any branch in the host State of an out-of-State State bank to the same extent as such State laws apply to a branch of a ba
nk chartered by that State.}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 
Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994}{\insrsid16269916\charrsid3739202  }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202  102(j), Pub. L. No. 103-328, 108 Stat. 2338 (1994).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 In 1997, Congress amended this section of Riegle-Neal by substituting }{\insrsid16269916\charrsid3739202 
{\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 branch in the host State of an out-of-State national bank}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  for }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 bran
ch of a bank chartered by that State.}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
The effect of this change was to relieve out-of-state state banks from complying with host state laws that national banks were not similarly required to comply with.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [29]}{\insrsid16269916\charrsid3739202 \tab 
National banks are exempted from complying with host state intrastate branching laws in two circumstances: (1) when federal law preempts application of the law to national banks, and (2) when the Comptroller of the Currency determines that the host state 
law has a discriminatory effect on a national bank.}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 See}{\insrsid16269916\charrsid3739202  12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}{\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  36(f)(1)(A)(i) and (ii).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
The 1997 amendments to section 1831a(j)(1) clarify that in those limited circumstances where a federal law precludes application of a host state law to national banks, out-of-state state banks will similarly be exempted from the law of the host State.}{
\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 See }{\insrsid16269916\charrsid3739202 143 }{\scaps\insrsid16269916\charrsid3739202 Cong. Rec.}{\insrsid16269916\charrsid3739202  H3088-02, H3089 (May 21, 1997) (statement of Honorable M
arge Roukema, Chair of}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Subcommittee on Financial Institutions and Consumer Credit) (}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt
\f36\fs24}}}{\insrsid16269916\charrsid3739202 Morever, [the Riegle-Neal Clarification Act] recognizes the importance of host State laws by requiring all out-of-State banks 
to comply with host State laws in . . . intrastate branching, unless the State law has been preempted by national banks.}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202 ); }{\i\insrsid16269916\charrsid3739202 see also}{\insrsid16269916\charrsid3739202  143 }{\scaps\insrsid16269916\charrsid3739202 Cong. Rec.}{\insrsid16269916\charrsid3739202 
 H3088-02, H3094 (May 21, 1997) (statement of Honorable Bruce Vento, ranking member of}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Subcommittee on Financial Institutions and Consumer Credit).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
Thus, because 12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}{\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202  36(c) and 36(f)(1)(A) preempt 11 GCA }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
 106601(c) with respect to national banks, out-of-state state banks such as First Hawaiian are similarly exempted from complying with section 106601(c). 
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [30]}{\insrsid16269916\charrsid3739202 \tab Moreover, the policy underlying federal banking regulations has consistently been one of establishing competitive equality, s}{\i\insrsid16269916\charrsid3739202 ee First Nat
}{\i\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\i\insrsid16269916\charrsid3739202 l Bank of Logan v. Walker Bank & Trust Co.}{\insrsid16269916\charrsid3739202 
, 385 U.S. 252, 261, 87 S. Ct. 492, 497 (1966), and the passage of the 1997 Riegle-Neal Clarification Act was in furtherance of that policy.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
As stated by Ms. Roukema, floor manager and Chairwoman of Subcommittee on Financial Institutions and Consumer Credit, }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202 The essence of this legislation is to provide parity between State-chartered banks and national banks.}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}
{\insrsid3739202  }{\insrsid16269916\charrsid3739202 143 }{\scaps\insrsid16269916\charrsid3739202 Cong. Rec.}{\insrsid16269916\charrsid3739202 
 H3088-02, H3089 (May 21, 1997) (statement of the Honorable Marge Roukema, Chairwoman of Subcommittee on Financial Institutions and Consumer Credit).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
Congress has progressively worked to remove incentives for banks to charter at the federal rather than state level, and vice versa, in order to ensure the health and stability of a dual banking system.}{\insrsid3739202  }{
\i\insrsid16269916\charrsid3739202 See id.}{\insrsid16269916\charrsid3739202 ; }{\i\insrsid16269916\charrsid3739202 see also }{\insrsid16269916\charrsid3739202 143 }{\scaps\insrsid16269916\charrsid3739202 Cong. Rec.}{\insrsid16269916\charrsid3739202 
 H3088-02, H3094 (May 21, 1997) (statement of Honorable Bruce Vento, ranking member of}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Subcommittee on Financial Institutions and Consumer Credit).
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [31]}{\insrsid16269916\charrsid3739202 \tab Bank of Guam}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
s interpretation of 11 GCA }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  106601(c) and 12 U.S.C. }{\insrsid16269916\charrsid3739202 
{\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
 1831a(j)(1) would create a discrepancy between federal and state banks by allowing local and out-of-state national banks to intrastate branch without 
engaging in an interstate merger transaction, while limiting out-of-state state banks to their existing branches unless and until they engage in an interstate merger transaction.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
We conclude, however, from the plain language of the statutes and their inte
nt as found in Congressional history, that the above federal statutes forbid a host state from discriminating between national and state chartered banks in the area of intrastate branching }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL
 66 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  a conclusion which furthers Congress}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202  long standing banking policies. 
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [32]}{\insrsid16269916\charrsid3739202 \tab In addition, we find the remarks and interpretations provided by Ms. Roukema and Mr. Vento are entitled to great weight. }{\insrsid16269916\charrsid3739202 
{\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
In the course of deliberations on a bill, legislators look to the sponsor and to the representative of the committee in charge of it, to be particularly well informed about its purpose, meaning, and intended effect.}{\insrsid16269916\charrsid3739202 
{\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 United States v. Lane}{\insrsid16269916\charrsid3739202 
, 883 F.2d 1484, 1491 n.12 (10th Cir. 1989) (quoting N. Singer, 2A }{\scaps\insrsid16269916\charrsid3739202 Sutherland on Statutory Construction }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt
\f36\fs24}}}{\insrsid16269916\charrsid3739202  48.15).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Those congressmen that
 act as floor managers during debates of the bill and who are members of the congressional committee which conducted hearings and were responsible for formulating the proposed legislation are particularly qualified to comment on the meaning of the bill, a
nd their views are entitled to great weight.}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 See United States v. Oates}{\insrsid16269916\charrsid3739202 , 560 F.2d 45, 70 n.26 (2d Cir. 1977); }{\i\insrsid16269916\charrsid3739202 
see also Pan Am. World Airways, Inc. v. Civil Aeronautics Bd.}{\insrsid16269916\charrsid3739202 , 380 F.2d 770, 782 (2d Cir. 1967); }{\i\insrsid16269916\charrsid3739202 Mills v. United States}{\insrsid16269916\charrsid3739202 , 713 F.2d 1249, 1253 (7th 
Cir. 1983).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 In fact, }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
[t]hese statements are in the nature of supplemental committee reports and are entitled to the same weight accorded to formal committee reports.}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt
\f36\fs24}}}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 Oates}{\insrsid16269916\charrsid3739202 , 560 F.2d at 71 n.26 (citation omitted). }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 Generally, committee reports represent the most persuasive indicia of Congressional intent (with the exception, of course, of the language of the statute itself).}{
\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 Mills}{\insrsid16269916\charrsid3739202 , 713 F.2d at 1252; }{
\i\insrsid16269916\charrsid3739202 see also Lane}{\insrsid16269916\charrsid3739202 , 883 F.2d at 1490 n.9 (}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202 Although not decisive the intent of the legislature as revealed by the committee report is highly persuasive.}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt
\f36\fs24}}}{\insrsid16269916\charrsid3739202 ) (quoting N. Singer, 2A }{\scaps\insrsid16269916\charrsid3739202 Sutherland on Statutory Construction }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  48.06). 
\par }{\b\insrsid3739202 
\par }\pard \qj \fi1440\li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid16269916\charrsid3739202 b.}{\b\insrsid3739202  }{\b\insrsid16269916\charrsid3739202 Deference}{\insrsid16269916\charrsid3739202 
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [33]}{\insrsid16269916\charrsid3739202 \tab Part of the record before this court is a letter issued by the FDIC approving First Hawaiian}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s application to open a new branch.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Appellant}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s Excerpts of Record, vol. 2, tab 5 (FDIC Approval Letters, March 29, 2002).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
The letter deals with the merits of the issues presently before us.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
Bank of Guam argues that this court should not afford the FDIC letter any deference because the FDIC failed to follow the procedures set forth in 12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  43 and because the FDIC}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
s interpretations were not based on a permissible construction of the relevant statutes.
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [34]}{\insrsid16269916\charrsid3739202 \tab We find Bank of Guam}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
s argument, that the FDIC exceeded its authority by rendering a finding of preemption without affording notice and opportunity for comment in accordance with section 43, to be without merit.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
As pointed out by First Hawaiian, the letter from the FDIC was neither an }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
opinion letter or interpretive rule,}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  nor was it issued }{\insrsid16269916\charrsid3739202 
{\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 in response to a request or upon the agency}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s own motion.}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 See}
{\insrsid16269916\charrsid3739202  12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  43(a).}{\insrsid3739202  }{
\insrsid16269916\charrsid3739202 The letter was an approval of a branch application.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Thus, section 43 is not applicable. 
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [35]}{\insrsid16269916\charrsid3739202 \tab We note that both the FDIC and the Banking Board approved First Hawaiian}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s application to open a new branch, but that the decision reviewed by the lower court and this court is that of the Banking Board and not the FDIC.}{\insrsid3739202  }{
\insrsid16269916\charrsid3739202 However, the FDIC}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
s decision discusses and analyzes the issue of preemption, whereas the Banking Board simply approved First Hawaiian=s application based on the standards set forth in 11 GCA }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  106601(b).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 While we recognize that the FDIC}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s letter is not the decision being reviewed, its analysis should nevertheless be afforded some degree of deference.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
Like its Office of the Comptroller of the Currency counterpart, the FDIC is an administrative agency charged with administering the Riegle-Neal Act.}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 See}{\insrsid16269916\charrsid3739202  12 U.S.C. }{
\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  1828(c)(2)(C). }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 It is settled that courts should give }{\i\insrsid16269916\charrsid3739202 great weight }{\insrsid16269916\charrsid3739202 
to any reasonable construction of a regulatory statute adopted by the agency charged with the enforcement of that statute.}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 Clarke v. Securities Industry Ass}{\i\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\i\insrsid16269916\charrsid3739202 n}{
\insrsid16269916\charrsid3739202 , 479 U.S. 388, 403, 107 S. Ct. 750, 759 (1987) (quotation and citation omitted) (emphasis added).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 In addition, }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst 
SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 the Riegle-Neal Act in this case . . . involves }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 62 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 reconciling conflicting policies}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
 and depends }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 62 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 upon more than ordinary knowledge}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst 
SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  about interstate banking.}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 TeamBank, N.A. v. McClure}{\insrsid16269916\charrsid3739202 , 279 F.3d 614, 619 (8th Cir. 2002).
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [36]}{\insrsid16269916\charrsid3739202 \tab We find nothing to indicate that the FDIC}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202 s decision is based on an impermissible reading of the relevant statutes.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
The letter was issued only after the parties were afforded the opportunity to submit arguments on the matter, and therefore the FDIC followed relatively formal administrative procedures.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
Moreover, the FDIC}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s discussion appears to be }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst 
SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 thorough and well reasoned}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202  enough to merit deference.}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 See Teambank}{\insrsid16269916\charrsid3739202 , 279 F.3d at 619.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
Therefore, we accord it a great weight.}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 See Clarke}{\insrsid16269916\charrsid3739202 ,}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 479 U.S. at 403-04, 107 S. Ct. at 759; }{
\i\insrsid16269916\charrsid3739202 see also Bank of Am}{\insrsid16269916\charrsid3739202 ., 309 F.3d at 563.
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [37]}{\insrsid16269916\charrsid3739202 \tab In its approval letter, the FDIC began its analysis by reviewing 12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}{\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  36(c) and 36(f)(1)(A), and finding that }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL
 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 under either section 36(c) or section 36(f)(1)(A) the result 
would be the same, i.e., a national bank with a branch in Guam would be able to establish additional branches to the same extent as a Guam bank.}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt
\f36\fs24}}}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Appellant}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s Excerpts 
of Record, vol. 2, tab 5, p. 615 (FDIC Approval letter, March 29, 2002).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 These statutes therefore preclude 11 GCA }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}{\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  106601(c) and 106355 from applying to a }{\i\insrsid16269916\charrsid3739202 
national }{\insrsid16269916\charrsid3739202 bank with a branch in Guam.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [38]}{\insrsid16269916\charrsid3739202 \tab The FDIC then turns to 12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202  1831a(j)(1), and finds that }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
section 1831a(j)(1) means that since the two Guam statutes that purport to prohibit additional branches by an out-of-State bank (i.e., 11 }{\scaps\insrsid16269916\charrsid3739202 Guam Code Ann.}{\insrsid16269916\charrsid3739202  }{
\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}{\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
 106355 and 106601(c)) would not apply to a national bank, they also do not apply to FHB.}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid3739202  }{
\insrsid16269916\charrsid3739202 Appellant}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
s Excerpts of Record, vol. 2, tab 5, p. 615 (FDIC Approval letter, March 29, 2002).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 In support of its interpretation, the FDIC states, }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL
 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 [section 1831a(j)(1)] provides interstate, State-chartered banks parity with national banks and preserves competitive equality between nation
al banks and State banks.}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Appellant}{\insrsid16269916\charrsid3739202 
{\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s Excerpts of Record, vol. 2, tab 5, p. 615 (FDIC Approval letter, March 29, 2002).}{\insrsid3739202  }{
\insrsid16269916\charrsid3739202 Thus, the FDIC recognizes, as we did, the intent of Congress in enacting section 1831a(j)(1), and finds the above analysis supports such congressional intent.
\par }{\b\insrsid3739202 
\par }\pard \qj \fi720\li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid16269916\charrsid3739202 3.}{\b\insrsid3739202  }{\b\insrsid16269916\charrsid3739202 Applicable law}{\insrsid16269916\charrsid3739202 
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [39]}{\insrsid16269916\charrsid3739202 \tab Now that we have found 11 GCA }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202  106601(c) preempted, we must determine what law applies to First Hawaiian}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202 s branch application. Title 12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
 1831a(j)(1) states that host state law controls intrastate branching, but if host state law is inapplicable, then home state law is applied.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 However, a finding that 11 GCA }{
\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  106601(c) is preempted does not mean that we immediately turn to First Hawaiian}{
\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s home state law.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
Section 106601(b) also regulates intrastate branching on Guam. 
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [40]}{\insrsid16269916\charrsid3739202 \tab Pursuant to section 106601(b), }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202 [a] bank engaging in the banking business in Guam}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  may es
tablish additional branches, subject to the approval of the Banking Board, if it shows: 
\par }\pard \qj \li0\ri720\nowidctlpar\faauto\rin720\lin0\itap0\pararsid3739202 {\insrsid3739202 
\par }\pard \qj \li720\ri720\nowidctlpar\faauto\rin720\lin720\itap0\pararsid3739202 {\insrsid16269916\charrsid3739202 (1)}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
there is sufficient need for such branch; (2) the proposed branch has reasonable opportunity to be economically self-sustaining; and (3) the applicant demonstrate
s by clear and convincing evidence that the establishment and operation of such branch will promote community reinvestment and fair lending.
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\insrsid16269916\charrsid3739202 
\par 11 GCA }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  106601(b).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
In contrast to section 106601(c), the requirements of section 106601(b) are imposed upon local }{\i\insrsid16269916\charrsid3739202 and }{\insrsid16269916\charrsid3739202 out-of-state banks.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
Since its application is uniform and non-discriminatory, there is no federal preemption.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Thus, section 106601(b) sets forth the appropriate standards by which to judge First Hawaiian}{
\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s branch application. 
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [41]}{\insrsid16269916\charrsid3739202 \tab The Banking Board, in its October 30, 2001 decision, found that FHB}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s application met the requirements of section 106601(b).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Specifically, the Board held:
\par }\pard \qj \li0\ri720\nowidctlpar\faauto\rin720\lin0\itap0\pararsid3739202 {\insrsid3739202 
\par }\pard \qj \li720\ri720\nowidctlpar\faauto\rin720\lin720\itap0\pararsid3739202 {\insrsid16269916\charrsid3739202 
[T]here is sufficient need for such branch; the proposed branch has reasonable opportunity to be economically self-sustaining; and the applicant has submitted clear and convincing evidence that the establishment and operation
 of such branch will promote community reinvestment and fair lending.
\par }\pard \qj \li0\ri720\nowidctlpar\faauto\rin720\lin0\itap0\pararsid3739202 {\insrsid16269916\charrsid3739202 
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\insrsid16269916\charrsid3739202 Appellant}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202 s Excerpts of Record, vol. 2, tab 1, p. 531.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 These findings have not been challenged. Thus, the Banking Board}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL
 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s approval under section 106601(b) is affirmed.
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 C.}{\b\insrsid3739202  }{\b\insrsid16269916\charrsid3739202 Branch Acquisition}{\insrsid16269916\charrsid3739202 
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [42]}{\insrsid16269916\charrsid3739202 \tab We now turn to section 106355(b), which states that }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202 [a]n out-of-state bank that does not operate a branch in Guam acquired through an interstate merger transaction under this Title may not establish and operate a branch in Guam through the acquisition of a branch.}{
\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 11 GCA }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  106355(b).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
Bank of Guam argues that First Hawaiian acquired a branch of Union Bank in violation of section 106355(b).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
First Hawaiian contends that section 106355(b) is inapplicable to its transactions with Union Bank for two reasons.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 First, the p
rovision was intended to prohibit an initial branching entry, and not the opening of an additional branch by a bank already within the state.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Second, First Hawaiian argues that it did not }{
\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 acquire}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  a branch.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 It purchased Union Bank}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s assets and liabilities, and then in a separate and unrelated agreement, subleased premises from Uni}{\insrsid3739202 on Bank to open its new branch.}{\insrsid16269916 
\par }{\insrsid3739202\charrsid3739202 
\par }\pard \qj \fi720\li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid16269916\charrsid3739202 1.}{\b\insrsid3739202  }{\b\insrsid16269916\charrsid3739202 Applicability }{\insrsid16269916\charrsid3739202 
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [43]}{\insrsid16269916\charrsid3739202 \tab State restrictions on branch acquisitions are expressly authorized by the Riegle-Neal Act.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 The Act states:
\par }\pard \qj \li0\ri720\nowidctlpar\faauto\rin720\lin0\itap0\pararsid3739202 {\insrsid3739202 
\par }\pard \qj \li720\ri720\nowidctlpar\faauto\rin720\lin720\itap0\pararsid3739202 {\insrsid16269916\charrsid3739202 An interstate merger transaction may involve the acquisition of a branch of an insured bank without the acquisition of the bank only if 
the law of the State in which the branch is located permits out-of-State banks to acquire a branch of a bank in such State without acquiring the bank.
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\insrsid16269916\charrsid3739202 
\par 12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  1831u(a)(4)(A).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
The transaction between First Hawaiian and Union Bank is an interstate merger transaction as referred to in section 1831u(a)(4)(A).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
The federal definition of an interstate merger transaction is broad and encompasses any merger transaction between insured banks with different home states.}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 See}{\insrsid16269916\charrsid3739202 
 12 U.S.C.}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}{\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
 1831u(g)(6)-(g)(7).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 The definition of a merger transaction includes a transaction in which an insured bank }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 acquire[s] the assets of, or assume[s] liability to pay any deposits made in, any other insured depository institution . . . .}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL
 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202  1828(c)(2).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
The transaction between First Hawaiian and Union Bank, which are insured banks with different home states, involved the acquisition of assets and assumption of liabilities.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
Therefore, it constitutes an interstate merger transaction under the Riegle-Neal Act.
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [44]}{\insrsid16269916\charrsid3739202 \tab Title 11 GCA }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
 106355(b) is Guam}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s application of 12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst 
SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  1831u(a)(4)(A).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
Section 106355(b) prohibits branch acquisitions, and instead requires out-of-state banks to engage in an interstate merger transaction as defined under Guam statute in order to establish a branch.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
First Hawaiian argues that section 1831u(a)(4)(A), and by implication section 106355(b), applies only to the initial entry of a bank into a state, and not to the establishment of an intrastate branch by a bank already in that state.}{\insrsid3739202  }{
\insrsid16269916\charrsid3739202 Thus, since First Hawaiian is already established and operating branches on Guam, then section 106355(b) does not restrict its opening of an additional branch.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [45]}{\insrsid16269916\charrsid3739202 \tab Nothing in the language of 12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202  1831u(a)(4)(A) or 11 GCA }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
 106355(b) limits their applications to a bank}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s initial entry.}{\insrsid3739202  }{
\insrsid16269916\charrsid3739202 However, the legislative history behind section 1831u(a)(4)(A), or more broadly, behind Riegle-Neal,}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 indicates that Congress}{\insrsid16269916\charrsid3739202 
{\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  intent may have been to limit the application of section 1831u(a)(4)(A) to a bank}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst 
SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s initial entry.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 According to the House Report that accompanied the passage of the Riegle-Neal Act:

\par }\pard \qj \li0\ri720\nowidctlpar\faauto\rin720\lin0\itap0\pararsid3739202 {\insrsid3739202 
\par }\pard \qj \li720\ri720\nowidctlpar\faauto\rin720\lin720\itap0\pararsid3739202 {\insrsid16269916\charrsid3739202 A State may require that the }{\i\insrsid16269916\charrsid3739202 initial}{\insrsid16269916\charrsid3739202 
 branching entry into the State be by acquisition of an entire bank, and not just the acquisition of a branch of an existing bank.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 An out-of-state bank which has }{\i\insrsid16269916\charrsid3739202 
established}{\insrsid16269916\charrsid3739202  a branch in a State, regardless of how such branch was established, may branch within that State to the same extent as any bank chartered in the State.
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\insrsid16269916\charrsid3739202 
\par }{\scaps\insrsid16269916\charrsid3739202 H.R. Rep. No.}{\insrsid16269916\charrsid3739202  103-448, at 23 (1994), }{\i\insrsid16269916\charrsid3739202 reprinted in}{\insrsid16269916\charrsid3739202  1994 U.S.C.C.A.N. 2039, 2047 (emphasis added).}{
\insrsid3739202  }{\insrsid16269916\charrsid3739202 Moreover, as pointed out by First Hawaiian, other provisions within Riegle-Neal specifically address intrastate branching, namely sections 1831a(j)(1) and 36(f)(1)(A), as discussed previously.}{
\insrsid3739202  }{\insrsid16269916\charrsid3739202 These provisions and our prior analysis indicates that Congress wanted out-of-state banks to be able to branch intrastate as freely as host state banks.}{\insrsid3739202  }{
\insrsid16269916\charrsid3739202 Once a bank obtains its initial entry into a state, restrictions based on out-of-state and in-state banks, and national and state charters, should disappear from host state intrastate branching restric}{\insrsid3739202 
tions.}{\insrsid16269916 
\par }{\insrsid3739202\charrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [46]}{\insrsid16269916\charrsid3739202 \tab This interpretation would also be consistent with other federal banking provisions, such as 12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  36(c).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Section 36(c) permits out-of-state national banks to branch as freely as a host state b
ank once it obtains initial entry into a state.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Bank of Guam}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202 s interpretation of 12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
1831u(a)(4)(A) would restrict the branching rights conferred in section 3
6(c) because a state would then be able to prohibit a national bank from establishing an intrastate branch through a branch acquisition without placing the same prohibition on a host state bank.}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 See}{
\insrsid16269916\charrsid3739202  Appellant}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s Brief, p. 23.}{\insrsid3739202  }{
\insrsid16269916\charrsid3739202 This contradicts the plain language of section 36(c).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 If the application of section 1831u(a)(4)(A) is instead limited to a bank}{\insrsid16269916\charrsid3739202 
{\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s initial entry into a state, then no conflict arises between section 1831u(a)(4)(A) and section 36(c).}{\insrsid3739202  }{
\i\insrsid16269916\charrsid3739202 See Morton v. Mancari}{\insrsid16269916\charrsid3739202 , 417 U.S. 535, 551, 94 S. Ct. 2474, 2483 (1974) (}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt
\f36\fs24}}}{\insrsid16269916\charrsid3739202 [W]hen two statutes are capable of co-existence, it is the duty of the courts, absent a clearly expressed congressional intention to the contrary, to regard each as effective.}{
\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 ).
\par }{\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [47]}{\insrsid16269916\charrsid3739202 \tab Thus, we read 12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202  1831u(a)(4)(A) as being limited to a bank}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
s initial entry into a state.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Given our working presumption against preemption, we interpret 11 GCA }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  106355(b) in the same limited matter.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Therefore, because First Hawaiian ha
s already entered Guam, the opening of its Tamuning branch is not governed by 106355(b) and it is not required to engage in an interstate merger transaction under that section.
\par }{\b\insrsid3739202 
\par }\pard \qj \fi720\li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid16269916\charrsid3739202 2.}{\b\insrsid3739202  }{\b\insrsid16269916\charrsid3739202 Acquisition}{\insrsid16269916\charrsid3739202 
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [48]}{\insrsid16269916\charrsid3739202 \tab Bank of Guam argues the lower court failed to make a factual finding with respect to whether First Hawaiian }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL
 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 acquired}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202  the Union Bank branch, thereby committing reversible error.}{\insrsid3739202  }{\i\insrsid16269916\charrsid3739202 See}{\insrsid16269916\charrsid3739202  Appellant}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst 
SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s Brief, p. 22 n.14.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Because we have determined as a matter of law that 11 GCA }{
\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 106355(b) is inapplicable to the opening of First Hawaiian}{
\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s new branch, the question of whether First Hawaiian}{\insrsid16269916\charrsid3739202 
{\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 s opening of the Tamuning branch constituted an }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 65 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 acquisition}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
 is no longer material to the disposition of this case.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Therefore, we decline to further review the matter.
\par 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid16269916\charrsid3739202 IV.}{\insrsid16269916\charrsid3739202 
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid3739202 {\b\insrsid3739202 
\par }{\b\insrsid16269916\charrsid3739202 [49]}{\insrsid16269916\charrsid3739202 \tab First Hawaiian}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
s opening of a branch in Tamuning was not precluded by either 11 GCA }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}{\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 106601(c) or 106355(b).}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 
While the opening of an additional branch did violate section 106601(c), we find that section 106601(c) was preempted by a combined reading of 12 U.S.C. }{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}{\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  1831a(j)(1) and 36(c), and by a combined reading of 12 U.S. C. }{\insrsid16269916\charrsid3739202 
{\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}{\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202  1831a(j)(1) and 36(f)(1)(A).}{\insrsid3739202  }{
\insrsid16269916\charrsid3739202 Thus, section 106601(c) does not prohibit the First Hawaiian}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid16269916\charrsid3739202 
s intrastate branch.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Section 106355(b) restricts only a bank}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202 s initial entry into Guam through branch acquisition, and does not apply to First Hawaiian}{\insrsid16269916\charrsid3739202 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid16269916\charrsid3739202 s application to establish an additional, intrastate branch.}{\insrsid3739202  }{\insrsid16269916\charrsid3739202 Thus, we find no error by the lower court, and its decision and order is }{
\b\insrsid16269916\charrsid3739202 AFFIRMED}{\insrsid16269916\charrsid3739202 .}{\insrsid3739202 
\par }}