Interpretations and Actions: July 2022
Vol. 35, No. 7
Conditional Approval Letters
|1292||Application by National Bank of New York City’s (NBNYC) to make a dividend payable in property other than cash in the form of the Bank’s owned property located at 136-29 38th Avenue, Flushing, New York, to Gelman LLC and operating subsidiary application to form Gelman LLC to facilitate the distribution of the Bank’s owned property in accordance with the Stock Purchase Agreement, dated August 2, 2021, in which Newtek Business Services Corp., Boca Raton, Florida, will acquire NBNYC (Control No.: 2022-NE-Capital&Div-327017 and 2022-NE-Subs&Equities-327050, 06/06/2022)|
|1293||Application by The Bancorp Bank, Wilmington, Delaware, to convert to a national bank with the title of The Bancorp Bank, National Association; application to charter The Bancorp Interim National Bank; Sioux Falls, South Dakota; application to merge The Bancorp Bank, National Association with and into The Bancorp Interim National Bank under the title of The Bancorp Bank, National Association; and applications for residency waivers (Control No.: 2022-WE-Conversion-326414, 2022-WE-Combination-326441 and 2022-WE-Waiver-327313, 06/27/2022)|
|1294||Application of Patriot Bank, National Association, Stamford, Connecticut, to change the composition of its balance sheet through the expansion of operations and acquisition of American Challenger Development Corporation (Control No.: 2021-NE-5.53-324647 and 2022-NE-Waiver-326018, 06/30/2022)|
Community Reinvestment Act (CRA) Performance Evaluations
See OCC News Release 2022-80 announcing all CRA performance evaluations that became public from June 1, 2022 through June 30, 2022. A search of all public CRA evaluations can be done at http://apps.occ.gov/crasearch/default.aspx.
Final Enforcement Actions
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.
If you are unable retrieve the CRA evaluations or enforcement actions online, you can submit a request to obtain copies 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.