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FDIC Federal Register Citations

Factory Point National Bank
 
From: Debra Pagan [mailto:DDerosia@factorypoint.com]
Sent: Wednesday, September 21, 2005 3:49 PM
To: Comments
Subject: Consolidated Reports of Condition and Income, 3064-0052

Comments regarding proposed revisions to the Reports of Condition and Income, FIL86-2005

Bank Asset size as of June 30, 2005:  $309 million

Section B, Item 1:  Construction Land development and Other Land Loans: 

Currently our system is not set up to enable us to differentiate between 1-4 family Construction Land development and other land loans and all other CLD & OL Loans.  All construction loans are coded the same on our system.  The agencies proposal to split the existing items for CLD & OL  would require us to set up additional codes on our system and would require an extensive amount of manual reclassifications of our construction loans. 

Section B, Item 2:  Loans secured by Non-farm Nonresidential Properties:

The same problem exists as explained above.  Our system is not set up to split out owner occupied, non-farm, nonresidential and all other non-farm nonresidential properties.  Again, the agencies proposal to split the existing items would require us to set up additional codes on our system and would require an extensive amount of manual reclassifications for owner occupied, non-farm, nonresidential loans.

Debbie Pagan

Factory Point National Bank

4928 Main St

PO Box 1567

Manchester Center, VT 05255



Last Updated 09/22/2005 Regs@fdic.gov

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