Of 31 banks whose Community Reinvestment Act (CRA) evaluation ratings were made public in February, one of them received a rating of “needs to improve,” while six of the institutions were rated “outstanding,” according to information announced Friday by the national bank regulator.
The Office of the Comptroller of the Currency (OCC) said the other 24 institutions were rated “satisfactory” under the anti-redlining statute. Any of four ratings is possible: outstanding, satisfactory, needs to improve, and substantial noncompliance. None of the institutions on Friday’s list had the rating of “substantial noncompliance.”
The one bank rated “needs to improve” was Kentland FS & LA, Kentland, Ind.
The six banks rated “outstanding” under CRA were: Commercial Banking Company, Valdosta, Ga.; The First National Bank of Monterey, Monterey, Ind.; F&M Community Bank, National Association, Preston, Minn.; The First National Bank of Nevada, Missouri, Nevada, Mo.; The Conway National Bank, Conway, S.C.; First National Bank Texas, Killeen, Texas.
The OCC said its list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings.
OCC Releases CRA Evaluations for 31 National Banks and Federal Savings Associations