Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received
District 1: Federal Reserve Bank of Boston PDF
Filings received during the week ending April 27, 2024
| Filer | Filing Type | Filing Proposal | End of Comment Period | |
|---|---|---|---|---|
| Newspaper | Federal Register | |||
| HOMETOWN FINANCIAL GROUP MHC | * 3A3 * 3A5 | Application submitted by Hometown Financial Group MHC, Easthampton, Massachusetts and Hometown Financial Group, Inc., Easthampton, Massachusetts ("collectively, "Hometown Financial"), for prior approval of the Board of Governors of the Federal Reserve System (the "Board"), pursuant to Section 3(a)(3) and 3(a)(5) of the Bank Holding Company Act of 1956, as amended, to merge with North Shore Bancorp, Peabody, Massachusetts and thereby indirectly acquire North Shore Bank, Peabody, Massachusetts, which intends to merge with Abington Bank, Abington, Massachusetts, the wholly-owned subsidiary bank of Hometown Financial Group, Inc. | Not available | Not available |
| NORTH SHORE BANK, A CO-OPERATIVE BANK | * 18C | North Shore Bank, a Co-operative Bank, Peabody, Massachusetts, seeking the approval of the Federal Reserve Bank of Boston to merge with Abington Bank, Abington, Massachusetts, with North Shore Bank, a Co-operative Bank as the surviving institution, pursuant to Section 18(c) of the Federal Deposit Insurance Act | Not available | Not applicable |
| NORTH SHORE BANK, A CO-OPERATIVE BANK | Membership | Application by North Shore Bank, a Co-operative Bank, Peabody, Massachusetts, to become a member of the Federal Reserve System pursuant to Section 9 of the Federal Reserve Act. | Not applicable | Not applicable |
* 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 |
|---|---|---|---|---|---|
| READING CO-OP BK, READING, MASSACHUSETTS | 1008674 | 02/11/2024 | 07/31/2023 | S | Int Small Bank |
CRA Examinations scheduled for Quarter of
| Institution | Location | Quarter |
|---|---|---|
| NONE | ||