Agencies Update CRA Asset-Size Thresholds

The financial regulatory agencies announced the annual adjustment to the asset-size thresholds they will use to differentiate small and intermediate banks and savings associations under the Community Reinvestment Act.  A “small bank” or “small savings association” will be defined as an institution that, as of December 31st of either of the prior two calendar years, had assets of less than $1.284 billion.  An “intermediate small bank” or “intermediate small savings association” will be defined as a small institution with assets of at least $321 million as of December 31st of both of the prior two calendar years, and less than $1.284 billion as of December 31st either of the prior two calendar years. These adjustments will be effective January 1, 2019.