The regulatory agencies recently announced that the asset-size thresholds for CRA were adjusted and will become effective January 1, 2014.
These thresholds determine whether an institution will be classified as a small bank, intermediate-small bank or large bank for CRA purposes. For either of the prior two calendar year-ends (December 31, 2013 & December 31, 2012):
- A “small bank” or “small savings association” means assets less than $1.202 billion.
- An “intermediate small bank” or “intermediate small savings association” means assets of at least $300 million but less than $1.202 billion.
- A “large bank” or “large savings association” means assets of $1.202 billion or more.