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: 1
Federal Reserve Bank of: Boston

Filings received during the week ending May 21, 2022

Filer Filing Type Filing Proposal End of Comment Period
1854 BANCORP * 18C
* Branch
* 3A3
Application by 1854 Bancorp (Bancorp), and its subsidiary bank, East Cambridge Savings Bank (ECSB), both of Cambridge, Massachusetts, to acquire Patriot Community Bank, Woburn, Massachusetts (Patriot), and thereby establish a branch at the location of Patriot's main office, in a multi-step transaction. As part of the transaction, Bancorp would create an interim bank, to be known as, 1854 Interim Bank, which will merge with and into Patriot, with Patriot as the survivor; immediately followed by the merger of Patriot with and into ECSB, with ECSB as the survivor and with Patriot's main office becoming a branch office of ECSB.
Newspaper: Not available
Federal Register: 04/28/2022
ABINGTON BANK * 18C Abington Bank, Abington, Massachusetts, to acquire through merger Envision Bank, Randolph, Massachusetts, pursuant to section 18(c) of the Federal Deposit Insurance Act.
Newspaper: Not available
Federal Register: Not applicable


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 Third Quarter of 2022 (July 1, 2022 - September 30, 2022) and Fourth Quarter of 2022 (October 1, 2022 - December 31, 2022)

Institution Location Quarter
ABINGTON BK ABINGTON, MASSACHUSETTSThird Quarter of 2022
HOMETOWN BK OXFORD, MASSACHUSETTSThird Quarter of 2022
MARBLEHEAD BK MARBLEHEAD, MASSACHUSETTSThird Quarter of 2022
NEEDHAM BK NEEDHAM, MASSACHUSETTSFourth Quarter of 2022
NORTH BROOKFIELD SVG BK NORTH BROOKFIELD, MASSACHUSETTSFourth Quarter of 2022

* 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