Of the eight members of the Board representing banking institutions, one member shall represent institutions in each of the following groups:

Group One – Credit unions.

Group Two – Foreign banking corporations licensed to maintain a branch or an agency in this State.

Group Three – Banks, trust companies, private bankers, savings banks, and savings and loan associations (collectively, for purposes of this section, banks) having total assets of more than $3 billion as shown by the last periodical report of condition received by the superintendent.

Group Four – Banks located in New York City or the Counties of Nassau, Suffolk, Sullivan, Westchester, Rockland, Putnam, Orange, Dutchess or Ulster, and having total assets of less than $500 million as shown by the last periodical report of condition received by the superintendent.

Group Five – Banks, other than those in Group Four, having assets of less than $500 million as shown by the last periodical report of condition received by the superintendent.

Group Six – Banks located in New York City and having total assets of $500 million to $3 billion as shown by the last periodical report of condition received by the superintendent.

Group Seven – Banks located in the Counties of Nassau, Suffolk, Rockland, Westchester, Orange, Putnam, Sullivan, Ulster, Dutchess, Delaware, Greene, Columbia, Otsego, Schoharie, Albany, Rensselaer, Herkimer, Montgomery, Schenectady, Fulton, Saratoga, Washington, Warren, Hamilton, Essex, Clinton, Franklin, or St. Lawrence, and having total assets of $500 million to $3 billion as shown by the last periodical report of condition received by the superintendent.

Group Eight – Banks, other than those in Group Six and Group Seven, having total assets of $500 million to $3 billion as shown by the last periodical report of condition received by the superintendent.