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Interpretations and Actions: May 2004

Vol. 17, No. 5

Community Development Investment Letters

Letter No. Topic
2003-2 A national bank may make an investment in a foundation that will use the funds to help capitalize a loan pool, which makes loans that support affordable housing, community services, or permanent jobs for low- and moderate-income individuals, financing for small businesses; area revitalization or stabilization; or other activities, services or facilities that primarily promote the public welfare. 04/06/2003
2003-3 A national bank may purchase preferred shares in a trust that acquires and owns tax-exempt participating and nonparticipating first mortgage bonds and other tax-exempt instruments that are issued by various state or local government, agencies, or authorities. The proceeds from the bonds are used for financing affordable housing development and rehabilitation, and most of those properties also benefit from the use of federal low-income housing tax credits. 09/30/2003
2003-4 A national bank may purchase preferred stock in a foundation that operates crime prevention programs in the nation's nursing homes. The foundation uses the bank's funds to purchase government and agency securities. Interest earned on these securities is used to fund crime prevention activities in nursing homes located in low- and moderate-income areas or occupied by low- and moderate-income residents. 11/17/2003

Corporate Decisions

Letter No. Topic
2004-8 Application to merge First National Bank of Sumner, Olney, Illinois, into a nonbank affiliate, RH Financial Corporation, Olney, Illinois. (Control Number 2004 CE 12 0012), 03/15/2004

Approvals with Conditions Enforceable under 12 U.S.C. 1818

Letter No. Topic
632 Application to establish a new national bank with the title of First National Bank of Decatur County, Bainbridge, Georgia. (Control Number 2003 SW 01 0008), 04/02/2004
633 Application to establish a new national bank with the title of T Bank, National Association, Dallas, Texas and the application by T Bank to establish a branch in Plano, Texas. (Control Numbers 2003 SW 01 0011 & 2003 SW 05 0218), 04/16/2004
634 Application by Commerce Bank/Pennsylvania, N.A., Philadelphia, Pennsylvania, to establish a branch at 1060 Second Street Pike, Richboro, Bucks County, Pennsylvania. (Control Number 2003 NE 05 0036), 04/27/2004
635 Application to establish a new national bank with the title of Red Mountain Bank, National Association, Hoover, Alabama. (Control Number 2003 SO 01 0006), 04/27/2004
636 Application to establish a new national bank with the title of Excel National Bank, Beverly Hills, California. (Control Number 2003 WE 01 0010) 04/28/2004
637 Application to establish a new national bank with the title of Peoples Community National Bank, Bremen, Georgia. (Control Number 2003 SE 01 0010), 04/29/2004

Final Enforcement Actions

Enclosed is a copy of the OCC's news release number 2004-39, announcing the availability of enforcement actions. Copies of the final actions are available by writing to the OCC, Public Reference Room, Mailstop 1-5, Washington, D.C. 20219. When ordering, specify the appropriate enforcement action number.

Community Reinvestment Act (CRA) Performance Evaluations

Enclosed is a list of CRA performance evaluations that became public during the period of April 15 through May 14, 2004.

PLEASE NOTE: Interpretive Letters and No-Objection Letters reflect the views of the Comptroller's legal staff. Corporate Decisions, CRA Decisions and Conditional Approvals are from the office of Licensing. The Community Development Investment Letters are from the office of Community Affairs. The list of CRA Ratings is from the Communications Division. For copies of the CRA evaluations, you may either contact the bank directly, or you may write to the Office of the Comptroller of the Currency (OCC) in any of three ways: by mail to the OCC, Attn: Public Information Room, Mail Stop 1-5, Washington, D.C. 20219; by fax to (202) 874-4448; or by e-mail to You may also write to the OCC for copies of enforcement actions and charters with standard conditions.

Members of the news media are encouraged to cite the letter number when reporting or summarizing documents from this package. This helps us to process single requests based upon your citation in a more timely manner.

The Office of the Comptroller of the Currency publishes INTERPRETATIONS AND ACTIONS monthly. Subscriptions are available at a rate of $175 per year by writing to the Comptroller of the Currency, ATTN: Accounts Receivable, Mail Stop 4-8, 250 E Street, S.W., Washington, DC 20219. Prepayment is requested. Suggestions, comments or questions may be sent to Jacqueline J. England, Comptroller of the Currency, Communications Division, Mail Stop 3-2, Washington, DC 20219.