The remaining 23 banks were rated “satisfactory,” the OCC said.
The CRA evaluations measure the banks’ performance for their record of meeting the credit needs of their entire communities, including low- and moderate-income neighborhoods, consistent with safe and sound operation of the institution. Possible ratings are outstanding, satisfactory, needs to improve, and substantial noncompliance.
The rating of “substantial noncompliance” in the latest list was for The Lemont National Bank, a small bank in Lemont, Ill. The “needs to improve” rating was for Third Federal Savings and Loan Association of Cleveland, a large bank in Cleveland, Ohio.
The CRA rating of “outstanding” went to Old Second National Bank (Aurora, Ill.); Armed Forces Bank, National Association (Ft. Leavenworth, Kan.); The Camden National Bank (Camden, Maine); Charles Schwab Bank, Federal Savings Association (Reno, Nev.); and The Yoakum National Bank (Yoakum, Texas).
OCC Releases CRA Evaluations for 30 National Banks and Federal Savings Associations