Reuters: Regulatory News: Gorham Savings was biggest Fed borrower during Q3 2010

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Gorham Savings was biggest Fed borrower during Q3 2010 Sep 28th 2012, 15:29 Sept 28 | Fri Sep 28, 2012 11:29am EDT Sept 28 (Reuters) - Gorham Savings Bank of Gorham, Maine, took out the largest single loan and had the most outstanding from the Federal Reserve's discount window during the third quarter of 2010, Fed data showed on Friday. Gorham borrowed for three straight days at the Fed's short-term emergency lending window, culminating with a $70 million loan on Aug. 5, 2010. The second-largest borrower was Commerce Bank of Kansas City with $60 million outstanding from a single loan on Sept. 9, 2010, the data showed. On the basis of how many times they went to the discount window, regardless of the size of any loans, the most frequent borrowers of so-called primary credit during the quarter were Signature Bank of Chicago and Bank of Cattaraugus in Cattaraugus, New York.

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