We recently had to close a branch early for a few hours due to no air conditioning in extreme heat. We posted a notice, but I think that we also should notify the IDFPR. Is that correct, and who should we contact at the IDFPR?

Yes, we recommend contacting the IDFPR and posting a notice for an early closing of a branch due to extreme heat and a nonfunctioning air conditioning system. Even though your branch was not closed for an entire day, we believe use of these procedures is appropriate; an early closing will affect customers who wish to use the bank’s services during those hours.

The Banking Emergencies Act permits the IDFPR to issue a proclamation authorizing a particular bank or branch to close for an emergency affecting just that particular bank or branch (see a recent example here). Notice of the closing and the IDFPR’s proclamation should be posted on your bank’s main entrance doors. If only one branch is affected, we believe that posting is required only at that particular branch — posting the notice at all branches would be confusing to customers and impracticable for banks with large branch networks.

The Act requires a state bank experiencing an emergency requiring closing to notify the Secretary of the IDFPR as promptly as possible. We also believe it would be appropriate to contact the Director of the Division of Banking. If the emergency already has come and gone, we still recommend contacting the IDFPR after the fact (or the OCC, if your bank is a national bank).

For resources related to our guidance, please see:

Banking Emergencies Act, 205 ILCS 610/2(a) (“The Commissioner during an emergency or while an impending emergency exists, which affects, or may affect, a particular bank or banks, or a particular office or offices thereof, but not banks located in the area generally of the said county or municipality, may authorize the particular bank or banks, or office or offices so affected, to close. The office or offices so closed shall remain closed until the Commissioner is notified by a bank officer of the closed bank that the emergency has ended. The Commissioner shall notify, at such time, the officers of the bank that one or more offices, heretofore closed because of the emergency, should reopen and, in either event, for such further time thereafter as may reasonably be required to reopen.”)
Banking Emergencies Act, 205 ILCS 610/3 (“A bank closing an office or offices pursuant to the authority granted herein under this Act shall give as prompt notice of its action as conditions will permit and by any means available, to the Commissioner, or in the case of a national bank, to the Comptroller of the Currency. In addition the bank shall post notice of the temporary closing and the authorization for the closing on the main entrance doors of the bank affected.”)
Banking Emergencies Act, 205 ILCS 610/1 (“‘Commissioner’ means . . . the Secretary of Financial and Professional Regulation.”)