By the Division of Banks



 

First Quarter 20171
Financial InstitutionLocation
Align Credit UnionLowell
Belmont Savings BankBelmont
Brookline Municipal Credit UnionBrookline
East Cambridge Savings BankCambridge
Enterprise Bank & TrustLowell
Lee BankLee
Middlesex Savings BankNatick
Norwood Co-operative BankNorwood
Pittsfield Co-operative BankPittsfield
Randolph Savings BankRandolph
State Street Bank and Trust CompanyBoston
The Cooperative BankRoslindale
Winchester Co-op BankWinchester

1 The schedule of institutions to be examined between January 1, 2017 and March 31, 2017 is based upon the best information now available.  Examination schedules may change; unanticipated complex issues could arise, for example, that may require more time and resources than originally allotted, thus delaying completion of an examination and delaying other scheduled examinations.  For supervisory reasons, the listing of institutions does not include credit unions with assets under $5 million.  However, the Division will continue to publish the public CRA ratings and make available all CRA public evaluations for all state-chartered institutions. 

The Division established alternative examination procedures for the CRA at depository institutions under Regulatory Bulletin 1.3-105.  The alternative examination procedures are applicable to all banks and credit unions who received a rating "High Satisfactory" or "Outstanding" at their most recent CRA examination conducted by the Division, or by the appropriate federal banking regulatory agency (if applicable). This procedure is designed to reduce cost to the institution, decrease regulatory burden, and provide incentive for superior CRA performance. Best efforts will be employed by the Division to grant scheduling accommodations requested by the institution should conflicts arise.

Large Institutions and Intermediate Small Institutions

The Division will extend the examination cycle for all "Outstanding" and "High Satisfactory" rated Large Institutions and Intermediate Small Institutions, conducting the CRA examination no sooner than 36 months following the prior Division CRA examination, and no sooner than 12 months following the prior federal regulator's examination. The Division will continue to examine all other institutions at least once every 24 months.

Small Institutions

The Division will extend the examination cycle for all "Outstanding" and "High Satisfactory" rated Small Institutions, conducting the CRA examination no sooner than 60 months following the prior Division CRA examination and no sooner than 12 months following the prior federal regulator's examination. The Division will continue to examine all other institutions at least once every 48 months.

The Division reserves the right to examine an institution on a shorter interval if interim data received from an institution indicates a deviation from the previous CRA rating or to accommodate a request from the institution to coordinate with an examination being conducted by another supervisory agency.

Public Participation

The alternative examination procedure shall in no way limit public participation. Examiners will continue to conduct meetings with area community organizations as part of the regular CRA examination process. The quarterly publication of the planned examination schedule will also apply, and the Division encourages written comments regarding the institution's CRA performance as detailed in 209 CMR 46.21.

Exceptions

The Division reserves the right to examine any institution at any time due to written complaints, regulatory concerns, or any other issues which would require on-site examination or follow-up.

If you have any questions regarding the Division’s examination schedule, please call (617) 956-1546.

 


 

Fourth Quarter 20162
Financial InstitutionLocation
Charles River BankMedway
Martha’s Vineyard Savings BankEdgartown
OneUnited BankBoston
Pilgrim BankCohasset
Reading BankReading
Walpole BankWalpole
Commonwealth Utilities Credit UnionMarion
Mass Bay Credit UnionSouth Boston
Watertown Municipal Credit UnionWatertown
Workers Credit UnionFitchburg

2 The schedule of institutions to be examined between October 1, 2016 and December 31, 2016 is based upon the best information now available.  Examination schedules may change; unanticipated complex issues could arise, for example, that may require more time and resources than originally allotted, thus delaying completion of an examination and delaying other scheduled examinations.  For supervisory reasons, the listing of institutions does not include credit unions with assets under $5 million.  However, the Division will continue to publish the public CRA ratings and make available all CRA public evaluations for all state-chartered institutions. 

The Division established alternative examination procedures for the CRA at depository institutions under Regulatory Bulletin 1.3-105.  The alternative examination procedures are applicable to all banks and credit unions who received a rating "High Satisfactory" or "Outstanding" at their most recent CRA examination conducted by the Division, or by the appropriate federal banking regulatory agency (if applicable). This procedure is designed to reduce cost to the institution, decrease regulatory burden, and provide incentive for superior CRA performance. Best efforts will be employed by the Division to grant scheduling accommodations requested by the institution should conflicts arise.

Large Institutions and Intermediate Small Institutions

The Division will extend the examination cycle for all "Outstanding" and "High Satisfactory" rated Large Institutions and Intermediate Small Institutions, conducting the CRA examination no sooner than 36 months following the prior Division CRA examination, and no sooner than 12 months following the prior federal regulator's examination. The Division will continue to examine all other institutions at least once every 24 months.

Small Institutions

The Division will extend the examination cycle for all "Outstanding" and "High Satisfactory" rated Small Institutions, conducting the CRA examination no sooner than 60 months following the prior Division CRA examination and no sooner than 12 months following the prior federal regulator's examination. The Division will continue to examine all other institutions at least once every 48 months.

The Division reserves the right to examine an institution on a shorter interval if interim data received from an institution indicates a deviation from the previous CRA rating or to accommodate a request from the institution to coordinate with an examination being conducted by another supervisory agency.

Public Participation

The alternative examination procedure shall in no way limit public participation. Examiners will continue to conduct meetings with area community organizations as part of the regular CRA examination process. The quarterly publication of the planned examination schedule will also apply, and the Division encourages written comments regarding the institution's CRA performance as detailed in 209 CMR 46.21.

Exceptions

The Division reserves the right to examine any institution at any time due to written complaints, regulatory concerns, or any other issues which would require on-site examination or follow-up.

If you have any questions regarding the Division’s examination schedule, please call (617) 956-1546.

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