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: 2
Federal Reserve Bank of: New York

Filings received during the week ending March 27, 2021

Filer Filing Type Filing Proposal End of Comment Period
BLUE FOUNDRY BANCORP * 3A1 Blue Foundry Bancorp, Delaware; to become a bank holding company pursuant to Section 3(a)(1) of the Bank Holding Company Act of 1956 by merging with Blue Foundry Bancorp-NJ, and thereby indirectly acquire Blue Foundry Bank, both of Rutherford, NJ. Blue Foundry, MHC, Rutherford, NJ, to convert from mutual to stock form and merge with and into Blue Foundry Bancorp-NJ. As part of the conversion, Blue Foundry, MHC and Blue Foundry Bancorp-NJ, will cease to exist.
Newspaper: Not available
Federal Register: 04/21/2021
MAGYAR BANCORP, INC. * 3A5 Magyar Bancorp, New Brunswick, New Jersey, to become a top-tier bank holding company pursuant to Section 3(a)(5) of the Bank Holding Company Act of 1956 and convert from mutual to stock form and merge with Magyar Bancorp MHC, also of New Brunswick, New Jersey. As part of the conversion, Magyar Bancorp, MHC will cease to exist.
Newspaper: Not available
Federal Register: 04/22/2021
MANUFACTURERS AND TRADERS TRUST COMPANY * 3A5
* 18C
* Branch
* 3A3
M&T Bank Corporation, Buffalo, New York, to acquire People's United Financial Inc., and thereby indirectly acquire People's United Bank, National Association, both of Bridgeport, Connecticut; Manufacturers and Traders Trust Company, Buffalo, New York, to merge with People's United Bank, National Association, Bridgeport, Connecticut, and establish branches at the locations of People's United Bank, National Association.
Newspaper: Not available
Federal Register: Not available


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 Quarter
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