FDIC Federal Register Citations

From: Bill L. Baker [mailto:WLBaker@fnbsf.com]
Sent: Thursday, September 02, 2004 11:13 AM
To: Regs
Cc: Theresa Hanson; Tracy M. Landsem; Calvin E. Willemssen; Debra L. Thompson; Dick J. Corcoran; Ira D. Frericks; James W. Schnatterly; Jan B. Ritter; Jerry B. Feldhaus; Philip F. Johnson
Subject: Comment on "Small-Bank" CRA Threshold

Dear Members of the FDIC Board of Directors:

The First National Bank in Sioux Falls, South Dakota, and its sister bank under common ownership, the Farmers State Bank, Flandreau, South Dakota, are community banks serving their communities and the surrounding area in southeastern South Dakota for 119 and 93 years, respectively. The First National Bank in Sioux Falls is currently about $800 million in assets; Farmers State Bank, approximately $92 million. While Comptroller Hawke announced on August 16 that the OCC is not yet ready to follow suite, I write to give our heartfelt endorsement to your proposal to increase the “Small-Bank” CRA Threshold from $250 million to $1 billion, regardless of holding company affiliation.

Most community banks our size not only “reinvest” in the communities they serve; in many cases, by their devotion of time, energy, and financial resources, community banks and their employees form, or are an integral part of, the very backbone of the economic, social and cultural lives of their communities.

William L. Baker
Chairman, President & CEO
The First National Bank in Sioux Falls
Director
Farmers State Bank, Flandrea
Secretary/Treasure
Minnehaha Banshares, Inc.
100 South Phillips Avenue
Sioux Falls, SD 57104
Phone: 605-335-5149
Fax: 605-335-5274
Email: wlbaker@fnbsf.com
Web: www.fnbsf.com