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 February 22, 2025
| Filer | Filing Type | Filing Proposal | End of Comment Period | |
|---|---|---|---|---|
| Newspaper | Federal Register | |||
| FIRST CENTRAL BANCORP, INC. | * 3AC | First Central Bancorp, Inc., to become a bank holding company by acquiring 100 percent of First Central Savings Bank, both of Glen Cove, New York. | Not available | Not available |
| MANUFACTURERS AND TRADERS TRUST COMPANY | Public Welfare Investment | Manufacturers and Traders Trust Company, Buffalo, New York, to make a public welfare investment, pursuant to Section 208.22(d) of Regulation H. | 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 |
|---|---|---|---|---|---|
| FIELDPOINT PRIV B&TC, GREENWICH, CONNECTICUT | 3664588 | 08/18/2024 | 01/16/2024 | NI | Int Small Bank |
| SOLVAY BK, SOLVAY, NEW YORK | 722816 | 02/04/2024 | 06/26/2023 | S | Int Small Bank |
CRA Examinations scheduled for Second Quarter of 2025 (April 1, 2025 - June 30, 2025) and Third Quarter of 2025 (July 1, 2025 - September 30, 2025)
| Institution | Location | Quarter |
|---|---|---|
| ADIRONDACK TC | SARATOGA SPRINGS, NEW YORK | Second Quarter of 2025 |
| BANCO POPULAR DE PR | SAN JUAN, PUERTO RICO | Second Quarter of 2025 |
| FIELDPOINT PRIV B&TC | GREENWICH, CONNECTICUT | Third Quarter of 2025 |
| NAVE BK | SAN JUAN, PUERTO RICO | Third Quarter of 2025 |
| POPULAR BK | NEW YORK, NEW YORK | Third Quarter of 2025 |