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Federal regulators announced the 2024 updated asset-size thresholds used to define "small banks" and "intermediate small banks" under their current Community Reinvestment Act regulations.
Details: Effective Jan. 1:
“Small bank” means an institution that had assets of less than $1.564 billion, as of Dec. 31 of either of the prior two calendar years.
“Intermediate small bank” means a small institution with assets of at least $391 million as of Dec. 31 of both of the prior two calendar years and less than $1.564 billion as of Dec. 31 of either of the prior two calendar years.
New CRA Rule: The changes will not affect the asset-threshold increases to $600 million and $2 billion under the new CRA rule. Those thresholds are scheduled to take effect Jan. 1, 2026.
Previous News
The Independent Community Bankers of America (ICBA) today expressed opposition to President Joe Biden’s veto of a bipartisan resolution that would nullify the Consumer Financial Protection Bureau’s Section 1071 small-business data collection and reporting requirements.
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Dec 20, 2023
Never has ICBA’s community bank-focused mission been more important than in 2023, ICBA President and CEO Rebeca Romero Rainey said in a message to the nation’s community bankers.
ImageDec 20, 2023
President Joe Biden vetoed an ICBA-advocated bipartisan resolution to overturn the Consumer Financial Protection Bureau’s Section 1071 rule.
ImageDec 20, 2023
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