Agencies update CRA asset-size thresholds

The Federal Reserve Board and the Federal Deposit Insurance Corporation announced in late December the 2024 updated asset-size thresholds used to define “small bank” and “intermediate small bank” under their current Community Reinvestment Act regulations.

The CRA regulations establish the framework and criteria by which the relevant agencies assess a financial institution’s record of helping to meet the credit needs of its community, including low- and moderate-income neighborhoods, consistent with safe and sound operations.

Small bank means an institution that, as of Dec. 31 of either of the prior two calendar years, had assets of less than $1.564 billion.
Intermediate small bank means a small institution with assets of at least $391 million as of Dece. 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.

These asset-size thresholds are effective Jan. 1, 2024.