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FDIC Federal Register Citations



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FDIC Federal Register Citations


Springs Valley Bank and Trust

From: Darren Patterson [mailto:dpatterson@svbt.com]
Sent: Thursday, September 23, 2004 3:35 PM
To: Comments
Cc: psmith@aba.com; Debbe Beatty
Subject: RIN No. 3064-AC50

FDIC’s Proposal to Increase the CRA Small Bank Threshold to $1 Billion

1500 Main Street
Jasper, IN 47546

September 23, 2004


Mr. Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th Street, NW Washington, DC 20429

Re: RIN Number 3064-AC50: FDIC Proposed Increase in the Threshold for the Small Bank CRA Streamlined Examination

Dear Sir:

My name is Darren Patterson of Springs Valley Bank and Trust, located in Jasper, Indiana, which is a small town of 12,000 residents. My bank is $222 Million is assets. I am writing to strongly support the FDIC’s proposal to raise the threshold for the streamlined small bank CRA examination to $1 billion without regard to the size of the bank’s holding company. This would greatly relieve the regulatory burden imposed on many small banks such as my own under the current regulation, which are required to meet the standards imposed on the nation’s largest $1 trillion banks.

I understand that this is not an exemption from CRA and that my bank would still have to help meet the credit needs of its entire community and be evaluated by my regulator. However, I believe that this would lower my current regulatory burden significantly. I also support the addition of a community development criterion to the small bank examination for larger community banks.

In conclusion, I believe that the FDIC has proposed a major improvement in the CRA regulations, one that much more closely aligns the regulations with the Community Reinvestment Act itself, and I urge the FDIC to adopt its proposal.

Sincerely,

Darren C. Patterson
Credit Analyst
Springs Valley Bank and Trust

Last Updated 10/05/2004 regs@fdic.gov

Last Updated: August 4, 2024