The Federal Reserve and FDIC today announced the asset-size thresholds that will be used to define “small bank” and “intermediate small bank” under Community Reinvestment Act regulations for 2024. A small bank will be defined as an institution that, as of Dec. 31 of either of the prior two calendar years, had assets of less than $1.564 billion. An intermediate small bank will be an institution with assets of at least $391 million as of Dec. 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. The new thresholds take effect Jan. 1, 2024.
High Plains in Colorado to buy First National Bank of Hugo
High Plains Banking Group in Flagler, Colorado, has agreed to buy First National Bank of Hugo in Colorado.
