Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received
District 2: Federal Reserve Bank of New York PDF
Filings received during the week ending October 29, 2022
| Filer | Filing Type | Filing Proposal | End of Comment Period | |
|---|---|---|---|---|
| Newspaper | Federal Register | |||
| ADIRONDACK TRUST COMPANY EMPLOYEE STOCK OWNERSHIP TRUST, THE | * 3A3 | The Adirondack Trust Company Employee Stock Ownership Trust, Saratoga Springs, New York, to acquire fifty additional shares of 473 Broadway Holding Corporation and two thousand additional shares of The Adirondack Trust Company, both of Saratoga Springs, New York. | 11/02/2022 | 11/12/2022 |
| MANUFACTURERS AND TRADERS TRUST COMPANY | Public Welfare Investment | Manufacturers and Traders Trust Company, Buffalo, New York, seeks prior approval to make a public welfare investment. | Not applicable | Not applicable |
| MANUFACTURERS AND TRADERS TRUST COMPANY | Public Welfare Investment | Manufacturers and Traders Trust Company, Buffalo, New York, seeks prior approval to make a public welfare investment. | Not applicable | Not applicable |
| SR BANCORP, INC | 3A1 | SR Bancorp, Inc. to become a bank holding company by acquiring 100% of the voting shares of Somerset Savings Bank, SLA, both of Bound Brook, New Jersey, pursuant to Section 3(a)(1) of the Bank Holding Company Act of 1956, as amended. | Not available | Not 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 / Location | RSSD ID | Exam Date | CRA Public Date | CRA Rating | Exam Method | NONE |
|---|
CRA Examinations scheduled for Quarter of
| Institution | Location | Quarter |
|---|---|---|
| NONE | ||