I'm reading through Regulation U and I noticed that for "Banks", the FR U-1 form needs to be completed for any loan over $100,000 secured by margin stock.

We are a federal savings bank, and it appears we would fall under the definition of a "nonbank lender". It looks like we have to complete the FR U-1 form (or FR G-3) on any loan that is secured by stock, not just loans over $100,000.

Am I reading this correctly, or am I missing something?

No - you are a bank under the definiton:

Regulation U

221.2(1) Bank. Has the meaning given to it in section 3(a)(6) of the Act (15 U.S.C. 78c(a)(6)).....

15 USC 78c(a)(6)The term “bank” means

(A) a banking institution organized under the laws of the United States or a Federal savings association, as defined in section 1462(5) [1] of title 12,....

That's the missing piece! Thank you so much!