Marine Midland petitions to drop its national bank charter.

BUFFALO, N.Y. -- Marine Midland Bank, a unit of HSBC Holdings PLC, applied to the New York State Banking Department to convert to a state from a national charter.

The company said Wednesday that its application could be approved by the end of the year.

Marine said it will also apply to remain a member of the Federal Reserve System.

Marine Midland has $16.7 billion of assets.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER