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 October 15, 2022

Filer Filing Type Filing Proposal End of Comment Period
BANGOR BANCORP, MHC 4c8 Bangor Bancorp, MHC (the "MHC") submitted notice for approval pursuant to Section 225.24(a)(2) of Regulation Y for MHC to acquire forty percent (40%) voting securities in IncumbentFI, Inc., ("IncumbentFI"), through a joint venture, to engage in activities pursuant to Section 225.28 of Regulation Y.
Newspaper: Not applicable
Federal Register: Not available
SOUTH SHORE BANK * Branch Application by South Shore Bank, Weymouth, Massachusetts, for approval to establish a branch office at 1280 Belmont Street, Brockton, Massachusetts, pursuant to Section 208.6 of Regulation H.
Newspaper: Not available
Federal Register: Not applicable
STATE STREET BANK AND TRUST COMPANY Investment State Street Bank and Trust Company, Boston, Massachusetts, (SSBT) and SSBT's Edge corporation subsidiary, State Street International Holdings, Boston, Massachusetts (SSIH) and, together with its and SSBT's subsidiaries and State Street Corporation, Boston, Massachusetts (SSC) and its subsidiaries, (State Street), Boston, Massachusetts, submit a 30 day's prior notice pursuant to Section 211.9(f) of Regulation K, notifying their intention to make additional investments in certain subsidiaries of SSIH.
Newspaper: Not applicable
Federal Register: Not applicable
VANGUARD GROUP INC, THE CIC Notification submitted by The Vanguard Group, Inc., Malvern, PA, on behalf of itself, its subsidiaries and affiliates (together with The Vanguard Group, Inc., "Vanguard"), and the investment companies registered under the Investment Company Act of 1940, other pooled investment vehicles, and institutional accounts that are sponsored, managed, or advised by Vanguard (the "Vanguard funds"), intend to apply to the Federal Reserve Board for permission to increase the aggregate ownership position of the Vanguard funds to more than 15% of the common stock of Berkshire Hills Bancorp, Inc., Boston, Massachusetts, parent of Berkshire Bank, Pittsfield, Massachusetts.
Newspaper: Not available
Federal Register: 10/21/2022
VANGUARD GROUP INC, THE CIC Notification submitted by The Vanguard Group, Inc., Malvern, PA, on behalf of itself, its subsidiaries and affiliates (together with The Vanguard Group, Inc., "Vanguard"), and the investment companies registered under the Investment Company Act of 1940, other pooled investment vehicles, and institutional accounts that are sponsored, managed, or advised by Vanguard (the "Vanguard funds"), intend to apply to the Federal Reserve Board for permission to increase the aggregate ownership position of the Vanguard funds to more than 15% of the common stock of Brookline Bancorp, Inc., Boston, Massachusetts, parent of Brookline Bank, Brookline, Massachusetts and Bank Rhode Island, Providence, Rhode Island.
Newspaper: 10/21/2022
Federal Register: 10/21/2022


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