Federal Reserve Release, H2, Actions of the Board, its Staff, and the Federal Reserve Banks; Applications and Reports Received

Release dates | Full version (300 KB PDF)
Actions by the Board | Actions under delegated authority
Applications and reports:
Boston | New York | Philadelphia | Cleveland | Richmond | Atlanta
Chicago | St. Louis | Minneapolis | Kansas City | Dallas | San Francisco

District: 3
Federal Reserve Bank of: Philadelphia

Filings received during the week ending June 28, 2008

Filer Filing Type Filing Proposal End of Comment Period
RELIANCE BANCORP,MHC * 3A1 Reliance Bancorp, MHC, (in formation), Altoona, PA, and Reliance Bancorp, Inc., (in formation) Altoona, PA, each to become a bank holding company in connection with the reorganization of Reliance Savings Bank, Altoona, PA, from a state chartered mutual savings bank into a state chartered stock savings bank.
Newspaper: 07/18/2008
Federal Register: 07/17/2008
ROYAL BANCSHARES OF PENNSYLVANIA, INC. CIC Evelyn Rome Tabas, Narberth, Pennsylvania, requests permission to acquire 25 percent or more of the shares and thereby control of Royal Bancshares of Pennsylvania, Inc., Narberth, PA. Royal Bancshares of Pennsylvania controls Royal Bank of Pennsylvania, Narberth, PA. Once acquired, the shares will be sold to six individual trusts: (i) Lee E. Tabas Trust, (ii) Susan Tabas Tepper Trust, (iii) Robert Royal Tabas Trust, (iv) Linda Jane Tabas Stempel Trust, (v) Carol Tabas Trust, and (vi) Jo Ann Wurzak Trust, (collectively the ?Trusts?). As such, the Trusts, and Nicholas Anthony Randazzo, Clifton Heights, PA; Robert Royal Tabas, Bryn Mawr, PA; and Linda Jane Tabas Stempel, Haverford, PA, as co-trustees of each of the six trusts, also request permission for the trusts to acquire 25 percent or more of the shares and thereby control of Royal Bancshares of Pennsylvania, Inc., and indirectly control of Royal Bank of Pennsylvania.
Newspaper: 07/06/2008
Federal Register: 07/14/2008


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
NONE


CRA Examinations scheduled for     Quarter of

Institution Location
NONE

* Subject to the provisions of the Community Reinvestment Act

Release dates | Full version (300 KB PDF)
Actions by the Board | Actions under delegated authority
Applications and reports:
Boston | New York | Philadelphia | Cleveland | Richmond | Atlanta
Chicago | St. Louis | Minneapolis | Kansas City | Dallas | San Francisco