The regulatory agencies have announced that the asset-size thresholds for CRA was adjusted and will take effect January 1, 2015. These thresholds determine whether an institution will be classified as a small bank, intermediate-small bank or large bank for CRA purposes. In 2015:
- A “small bank” or “small savings association” means assets less than $1.221 billion, for either of the prior two calendar years (December 31, 2014 & December 31, 2013).
- An “intermediate small bank” or “intermediate small savings association” means assets of at least $305 million for both of the two prior calendar years but less than $1.221 billion for either of those same years.
- A “large bank” or “large savings association” means assets of $1.221 billion or more for both of the prior two calendar years.