Federal Reserve Release, H2, Actions of the Board, its Staff, and the Federal Reserve Banks; Applications and Reports Received

District: 2
Federal Reserve Bank of: New York

Filings received during the week ending December 17, 2016

Filer

Filing Type

Filing Proposal

End of Comment Period

COMMUNITY BANK SYSTEM, INC.

* 3A3

Community Bank System, Inc., Dewitt, New York, to acquire 100 percent of Merchants Bancshares, Inc. and thereby indirectly acquire Merchants Bank, both of South Burlington, Vermont, pursuant to Section 3(a)(3) of the BHC Act of 1956, as amended, and Section 225.15 of Regulation Y.

Newspaper:	01/08/2017
Federal Register:	01/19/2017

MANUFACTURERS AND TRADERS TRUST COMPANY

* Branch

Manufacturers and Traders Trust Company, Buffalo, New York, to establish a branch office to be located at 2460 Grand Concourse, Borough of Bronx, Bronx, New York.

Newspaper:	Not available
Federal Register:	Not applicable

ORANGE BANK & TRUST COMPANY

* Branch

Orange Bank & Trust Company, New York, to establish a branch office to be located at 510 South Columbus Avenue, Mount Vernon, New York.

Newspaper:	Not available
Federal Register:	Not applicable

ORANGE BANK & TRUST COMPANY

Premises

Orange Bank & Trust Company, Middletown, New York, provides notice to increase its investment in bank premises (510 South Columbus Avenue), pursuant to Section 24A of the Federal Reserve Act and Section 208.21 of Regulation H.

Newspaper:	Not applicable
Federal Register:	Not applicable

PCSB FINANCIAL CORPORATION

* 3A1

PCSB Financial Corporation, Yorktown Heights, New York, to become a bank holding company by acquiring 100 percent of the voting shares of PCSB Bank, Brewster, New York, pursuant to Section 3(a)(1) of the BHC Act of 1956, as amended, and Section 225.15 of Regulation Y.

Newspaper:	Not available
Federal Register:	01/19/2017

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
NONE

CRA Examinations scheduled for Quarter of

Institution	Location
NONE

* Subject to the provisions of the Community Reinvestment Act

District: 2 Federal Reserve Bank of: New York

Filings received during the week ending December 17, 2016

Availability of CRA Public Evaluations

CRA Examinations scheduled for Quarter of

District: 2
Federal Reserve Bank of: New York