community financial institution
Defined in 1 place of the United States Code.
In general.—The term "community financial institution" means a member—
(i) the deposits of which are insured under the Federal Deposit Insurance Act [12 U.S.C. 1811 et seq.]; and
(ii) that has, as of the date of the transaction at issue, less than $1,000,000,000 in average total assets, based on an average of total assets over the 3 years preceding that date.
Source
- 2008–present12 U.S.C. § 1422Banks and Banking · Definitions · for the purposes of this chapter
In general.—The term “community financial institution” means a member—
(i) the deposits of which are insured under the Federal Deposit Insurance Act [12 U.S.C. 1811 et seq.]; and
(ii) that has, as of the date of the transaction at issue, less than $500,000,000 in average total assets, based on an average of total assets over the 3 years preceding that date.
Source
- 1999–200812 U.S.C. § 1422Banks and Banking · Definitions · for the purposes of this chapter
The term “community financial institution” means a member—
(i) the deposits of which are insured under the Federal Deposit Insurance Act [12 U.S.C. 1811 et seq.]; and
(ii) that has, as of the date of the transaction at issue, less than $1,000,000,000 in average total assets, based on an average of total assets over the 3 years preceding that date.
Source
- 201312 U.S.C. § 1422Banks and Banking · Definitions · for the purposes of this chapter