FDIC Federal Register Citations

Gogebic Range Bank

From: Best, Valerie
Sent: Friday, September 17, 2004 2:37 PM
To: Comments
Subject: FW: CRA Comment

First: The idea of letting $ 1 billion banks go through a streamlined
process is just ridiculous. I can see a $ 250 million bank doing it but
with all the mergers and acquisitions, I feel that it completely defeats
the purpose of the exam. They have too many branches in small outlying
areas that they suck deposits out of and lend in metropolitan areas and
hurting the small communities.

Second: The CRA exam does not do what it was supposed to do. This exam has
been so politically corrupted that it is ridiculous. If you truly want CRA
to have an impact all you have to do is set two rules and have the
examiners check them.

1: 85% of all deposits from every branch and/or location must be put to
use in that branch/or location in some form.

2: Must maintain at least and 85% loan to deposit ratio.

Problems solved.

This is too simple but it would definately work.

Take the politicians out of the process and get back to doing what the
hell you are supposed to be doing.

Thanks

Neil J. Beckman
President
Gogebic Range Bank
300 S. Sophie St.
Bessemer, MI 49911