Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received
District 1: Federal Reserve Bank of Boston PDF
Filings received during the week ending June 3, 2023
| Filer | Filing Type | Filing Proposal | End of Comment Period | |
|---|---|---|---|---|
| Newspaper | Federal Register | |||
| PROVIDENT BANCORP, INC. | Change in Bank Control | Stilwell Activist Investments, L.P., Stilwell Activist Fund, L.P., and Stilwell Partners, L.P., known as The Stilwell Group, all of New York, New York; Stilwell Value LLC, New York, New York, the general partner of each of the limited partnerships; Joseph D. Stilwell, San Juan, Puerto Rico, managing member of Stilwell Value LLC, a group acting in concert, to acquire additional common stock of Provident Bancorp, Inc., Amesbury, Massachusetts, parent of Provident Bank, Amesbury, Massachusetts. | 06/22/2023 | 06/23/2023 |
| STATE STREET BANK AND TRUST COMPANY | Investment | State Street Bank and Trust Company ("SSBT"), Boston, Massachusetts, and SSBT's Edge corporation subsidiary, State Street International Holdings ("SSIH" and, together with its and SSBT's subsidiaries and State Street Corporation ("SSC") and its subsidiaries, "State Street"), Boston, Massachusetts, hereby provide this thirty days' prior notice, pursuant to Section 211.9(f) of Regulation K, of their intention to make an additional investment in certain Edge corporation subsidiaries. More specifically, this notice is being made in connection with a proposal to provide additional capital to State Street Bank International GmbH ("SSBI"), a wholly-owned, indirect subsidiary of SSIH. | ||
* Subject to the provisions of the Community Reinvestment Act
Availability of CRA Public Evaluations
The Community Reinvestment Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted by the Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulation BB (12 CFR 228). The regulation was revised in May 1995.
The CRA requires that each depository institution's record in helping meet the credit needs of its entire community be evaluated periodically. That record is taken into account in considering an institution's application for deposit facilities.
A copy of an institution's CRA evaluation may be obtained directly from the institution or Reserve Bank.
Federal bank regulators use the following performance levels to rate an institution's performance under CRA:
O = Outstanding
S = Satisfactory
NI = Needs to improve
SN = Substantial noncompliance
The following state member banks have been examined and their CRA public evaluations are now available.
| Institution / Location | RSSD ID | Exam Date | CRA Public Date | CRA Rating | Exam Method |
|---|---|---|---|---|---|
| ABINGTON BK, ABINGTON, MASSACHUSETTS | 61476 | 12/18/2022 | 07/18/2022 | S | Int Small Bank |
CRA Examinations scheduled for Quarter of
| Institution | Location | Quarter |
|---|---|---|
| NONE | ||