Public Comment EGRPRA3, St. Joseph Capital Bank, Misawaka, IN

October 7,2004 Robert E. Feldman, Exec. Secretary Attention: CornmentslLegal ESS Federal Deposit Insurance Corporation 550 1 7th street, NW Washington, DC 20429 comrnents@fdic.~ov Re: 12 CFR Chapter Ill Dear Mr. Feldman: St. Joseph Capital Bank (SJCB) strongly supports the proposed reduction in regulatory burden facing the banking industry. Many of the regulations have become so burdensome and complicated that they no longer serve their original purpose of informing and protecting the consumer. The consumers are more confused than ever by the volume of information issued in complex legal terms. Meanwhile, the ST.JOSEPH costs to implement the regulations are overwhelming community banks. Even the CAPITAL regulators appear overwhelmed with the task of consistently enforcing the BANK regulations, and are unable to review all of the information currently reported. St. Joseph Capital Corporation is a one-bank holding company whose headquarters 3820 Edison Lakes Parkway are located in Mishawaka, Indiana. With total assets of $313.7 million at the end of hlisha~i~aka, I~ldia~~n 411545 June 2004, we are now classified as a "large" bank for CRA examination purposes. However, our size is misleading, as we currently operate out of a single location, with %lepholIe 574-273-9700 less than 100 full time employees. Our primary service area is defined as a 12-mile Facsimile: 574-273-0794 radius around our office. We are a true community bank. Web Site: www.sjch ...