Community bankers who want to seek an exemption to the FDIC’s three-year prepaid assessment should e-mail applications to firstname.lastname@example.org or fax them to (202) 898-6676 by Dec. 1. For an application to be accepted and considered by the FDIC, the application must contain a full explanation of the need for the exemption with supporting documentation, to include current financial statements, cash flow projections and any other relevant information that the FDIC deems appropriate. Any application for exemption will be deemed to be denied unless the FDIC notifies the applying institution by Dec. 15. The FDIC may postpone determination of the application until no later than Jan. 14, 2010. Additionally, the FDIC will proactively exempt banks based on regulatory data by Nov. 23. Under the final rule approved last week, banks would prepay their estimated regular quarterly assessments for the fourth quarter of 2009 and all of 2010-2012 on Dec. 30, when the regular third-quarter assessment payment is due. The prepayment would be based on an institution’s assessment rate and assessment base for the third quarter of 2009. It assumes a 5 percent annual growth in deposits each year. Banks would book the total prepayment as a “prepaid expense” asset and draw it down as each quarterly payment comes due.