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 December 21, 2024
| Filer | Filing Type | Filing Proposal | End of Comment Period | |
|---|---|---|---|---|
| Newspaper | Federal Register | |||
| ECSB Financial Corporation | * 3A1 | Application by ECSB Financial Corporation to become a bank holding company by acquiring 100 percent of the voting shares of Eastern Connecticut Savings Bank, both of Norwich, Connecticut, pursuant to sections 3(a)(1) of the Bank Holding Company Act of 1956, as amended. | 01/20/2025 | 01/27/2025 |
| WINCHESTER SAVINGS BANK | * 3A1 | Application by Winchester Bancorp, MHC to become a bank holding company by acquiring at least 50.1% of the common stock of Winchester Bancorp, Inc., a mid-tier holding company, through a mutual holding company reorganization and minority stock issuance, and thereby indirectly acquiring Winchester Savings Bank, all of Winchester, Massachusetts, pursuant to section 3(a)(1) of the BHC Act. | Not available | 01/21/2025 |
* 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 |
|---|---|---|---|---|---|
| CORNERSTONE BK, SPENCER, MASSACHUSETTS | 447100 | 07/06/2024 | 03/04/2024 | S | Int Small Bank |
| 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 | ||