For the purpose of determining limitations on loans and investments the following items are to be disregarded:
(1) The sale of excess reserve funds by one (1) bank to another bank;
(2) The purchase of securities by a bank, under an agreement to resell at the end of a stated period; and
(3) The purchase of mortgage loans by a bank, under agreement to resell at the end of a stated period.
The director may, upon application by a bank, approve loans and investments in excess of the limitations provided in this chapter.