FDIC Federal Register Citations

Bank of Essex

From: George Longest [mailto:glongest@bankofessex.com]
Sent: Tuesday, October 05, 2004 3:41 PM
To: Comments
Subject: RIN Number 3064-AC50

To Whom It May Concern:

I am writing on behalf of my bank and our industry to comment on the FDIC's
proposed changes to its CRA regulation. First, we applaud the FDIC's
proposal to raise the definition of small bank streamlined examination
standards from $250 million in assets to $1 billion. We urge you to
finalize the proposal and make it effective as soon as possible.

Community banks are unique in the services that we provide to our customers.
Quite frankly, we comply with the intent of CRA on a daily basis. It is the
very nature of our business to lend to all segments of the communities that
we serve. CRA loans are a very important and critical part of our business.
By raising this threshold and reducing the regulatory burden, this will only
allow our lending personnel more time to seek out and work with borrowers.

I believe this proposed change is in harmony with the FDIC's stated goal of
reducing regulatory burden where appropriate and feasible. Community banks
will continue to provide CRA type lending to our communities regardless of
how closely it is monitored. It is, has been, and will continue to be an
important element in our business plan. I urge you to support this
proposal.

Sincerely,

George M. Longest, Jr.
President
Bank of Essex