FDIC Federal Register Citations

New Washington State Bank

October 1, 2004

Federal Deposit Insurance Corporation
550 17th Street NW
Washington, DC 20429

RE: CRA

Dear FDIC,

It is my pleasure to work for a small community bank in Southern Indiana. We love our communities and our customers that we serve. Most small banks are the pillars of their communities that they serve. Our bank really has no problem with the Community Reinvestment Act. However, as you know, banks are under many regulations passed by the legislators. It would be nice to move the bar up to $1 billion from the $250 million.

The employees at small banks wear a lot of hats. To meet the requirements for a bank over $250 million could require another salary for the bank. To lift this regulatory burden would be appropriate for the small banks that work so hard complying with the regulations. Please consider raising the bar for banks to over $1 billion.

Thank you for your consideration on this matter. The FDIC is taking some really positive actions to help the bank and believe me that is appreciated.

Very truly yours,
Joe Morgan
Executive Vice President