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Interpretations and Actions: January 2016

Vol. 29, No. 1

Conditional Approvals

Letter No. Topic
1143 (PDF) Notice of Change in Bank Control involving Barclays Wealth Trustees (U.S.), NA, Wilmington, Delaware, filed by Stifel Financial Corp., St. Louis, Missouri and the request for multiple director waivers of residency requirement  (Control Numbers:  2015 NE-CBCA-144361 & 2015-NE-DirectorWaiver-145420), 11/30/2015
1144 (PDF) Applications filed by Grand Bank, National Association, Hamilton, New Jersey, to (i) prepay subordinated debt totaling $5 million, and (ii) issue new subordinated debt, in the principal amount of $3 million  (Control Numbers:  2015-NE-Capital&Div-144460 & 144461), 12/14/2015
1145 (PDF) Applications filed by Citizens Bank, National Association, Providence, Rhode Island, for the reduction of $175 million in Tier 1 capital and issuance of $175 million in subordinated debt for inclusion in Tier 2 capital  (Control Numbers:  2015-NE-Capital&Div-145647 & 145648), 12/15/2015
1146 (PDF) Termination of 12 U.S.C. 1818 condition imposed in connection with a capital increase by Patriot National Bank, Stamford, Connecticut, now known as Patriot Bank, National Association  (Control Number:  2015-NE-LicensingOther 145883), 12/22/2015

Community Reinvestment Act (CRA) Performance Evaluations

See OCC News Release 2016-1 announcing all CRA performance evaluations that became public from December 1, 2015 through December 31, 2015. A search of all public CRA evaluations can be done at http://apps.occ.gov/crasearch/default.aspx.

Final Enforcement Actions

See OCC News Release 2016-4 announcing the availability of enforcement actions. All final enforcement actions are searchable at http://apps.occ.gov/EnforcementActions/.

PLEASE NOTE: Interpretive Letters and No-Objection Letters reflect the views of the Office of the Comptroller of the Currency’s (OCC) legal staff. Corporate Decisions, CRA Decisions and Conditional Approvals are from the office of Licensing Activities. The Community Development Investment Letters are from the office of Community Affairs. The Supervisory Conditions Letters are from the Special Supervision Division. The list of CRA Ratings is from the Communications Division.

You can obtain copies of CRA evaluations or enforcement actions by writing to the Freedom of Information Act Officer, Disclosure Services, Communications Division, OCC, 400 7th Street, SW, Suite 3E-218, Washington, DC 20219. You may also submit a request electronically at the OCC’s online FOIA site, https://foia-pal.occ.gov/palMain.aspx. Please provide all identifying information when requesting documents. You may also contact the bank directly for copies of the CRA evaluations.

The OCC publishes INTERPRETATIONS AND ACTIONS monthly. Send suggestions, comments or questions to Jacqueline England, Disclosure Services, Communications Division, OCC, 400 7th Street, SW, Suite 3E-218, Washington, DC 20219.