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 December 7, 2024

FilerFiling TypeFiling ProposalEnd of Comment Period
NewspaperFederal Register
LIBERTY BANK* 3A1Application by Liberty Financial Corporation to become a bank holding company by acquiring 100 percent of the voting shares of Liberty Bank, both of Middletown, Connecticut, pursuant to sections 3(a)(1) of the Bank Holding Company Act of 1956, as amended.01/06/2025Not available

* 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 / LocationRSSD IDExam DateCRA Public DateCRA RatingExam Method
CORNERSTONE BK, SPENCER, MASSACHUSETTS44710007/06/202403/04/2024SInt Small Bank
READING CO-OP BK, READING, MASSACHUSETTS100867402/11/202407/31/2023SInt Small Bank
CRA Examinations scheduled for    Quarter of
InstitutionLocationQuarter
NONE
Back to Top
Last Update: December 12, 2024