Community Banks

FDIC: Results of Summary of Deposits Annual Survey Released

The Federal Deposit Insurance Corporation (FDIC) today released results of its annual survey of branch office deposits for all FDIC-insured institutions as of June 30, 2023.  The FDIC’s Summary of Deposits (SOD) provides deposit totals for each of the more than 77,000 domestic offices operated by more than 4,600 FDIC-insured commercial and savings banks, savings…

FDIC: Eight New Members Named to Advisory Committee on Community Banking

June 1st meeting to address a wide range of community banking issues The Federal Deposit Insurance Corporation (FDIC) today announced eight new members of the agency’s Advisory Committee on Community Banking: Thomas Bates, President & CEO, Legends Bank, Clarksville, Tennessee Michael Culhane, President & CEO, North Cambridge Co-operative Bank, Cambridge, Massachusetts Anita Drentlaw, President & CEO,…

Federal Reserve: Community Depository Institutions Advisory Council Members for 2023 Announced

he Federal Reserve Board on Thursday announced the members of its Community Depository Institutions Advisory Council, or CDIAC, and the president and vice president of the council for 2023. The CDIAC advises the Board on the economy, lending conditions, and other issues of interest to community depository institutions. Members are selected from representatives of commercial…

Joint Release: Agencies Release Annual Asset-Size Thresholds Under Community Reinvestment Act Regulations

The Federal Reserve Board and the Federal Deposit Insurance Corporation today announced the 2023 updated asset-size thresholds used to define “small bank” and “intermediate small bank” under their Community Reinvestment Act (CRA) regulations.   Annual adjustments to these asset-size thresholds are based on the average change in the Consumer Price Index for Urban Wage Earners and…

OCC: New Executive Committee Members Announced

The Office of the Comptroller of the Currency (OCC) today announced three new members of its Executive Committee, effective October 10, 2022. Beverly Cole has been selected as the Senior Deputy Comptroller for Midsize and Community Bank Supervision. She will lead a team of 1,600 people in the supervision of more than 1,000 national banks…

OCC: Research Solicited on Implications of Financial Technology for Banking

The Office of the Comptroller of the Currency (OCC) is soliciting academic-and policy-focused research on the impact of financial technology (fintech) entities and nonbanks on banking and the markets for lending, deposit-taking, and payment services through August 21, 2022. The OCC will invite authors of selected papers to present to OCC staff and invited guests…

FDIC: Advisory Committee on Economic Inclusion to Meet Tuesday, June 28th

Five New Members also Announced The Federal Deposit Insurance Corporation (FDIC) Advisory Committee on Economic Inclusion (ComE-IN) will meet on Tuesday, June 28, to discuss the Notice of Proposed Rulemaking to modernize the Community Reinvestment Act, and issues of equity in residential property valuation and appraisal. The committee members will also discuss key challenges facing…

FDIC: Board of Directors Amends Restoration Plan and Issues a Proposed Rule on Assessments, Revised Deposit Insurance Assessment Rates

The Federal Deposit Insurance Corporation (FDIC) Board of Directors (Board) today issued a notice of proposed rulemaking to increase deposit insurance assessment rates by 2 basis points for all insured depository institutions in order to increase the likelihood that the reserve ratio of the Deposit Insurance Fund (DIF) reaches the statutory minimum of 1.35 percent…

FDIC: Summary of Deposits Survey and Filing for June 30, 2022 Begins

The Summary of Deposits (SOD) is the annual survey of branch office deposits as of June 30 for all FDIC-insured institutions, including insured U.S. branches of foreign banks. All institutions with branch offices are required to submit the survey; institutions with only a main office are exempt. All survey responses are required by July 31,…

FDIC: 2022 Risk Review Published Highlighting Emerging Risks in the Banking System

The Federal Deposit Insurance Corporation (FDIC) today published its 2022 Risk Review, a comprehensive summary of emerging risks in the U.S. banking system as observed in 2021. The 2022 Risk Review expands coverage of risks from prior reports by examining operational risk to banks from cyber threats and illicit activity, and climate-related financial risks faced by…