Four “needs to improve,” two “outstanding,” and 58 “satisfactory” Community Reinvestment Act (CRA) evaluation ratings for banks were disclosed in a release Monday by the Federal Deposit Insurance Corp. (FDIC).
The FDIC said these ratings under the anti-redlining statute were assigned to the evaluated banks in April. The four rated “needs to improve” were: The Peoples Bank, Gambier, Ohio; Union Bank, Lake Odessa, Mich.; Bank of Crocker, Waynesville, Mo.; and Forbright Bank, Potomac, Md. Rated “outstanding” was Bank of Charles Town, Charles Town, W.Va.
A batch of 21 CRA ratings announced one week ago by the Office of the Comptroller of the Currency (OCC) included one rating of “needs to improve,” six “outstanding,” and 14 “satisfactory.” It said the ratings became public in June.
Included in this group was a rating of “needs to improve” for American Commercial Bank & Trust, National Association, Ottawa, Ill. Rated “outstanding” were First National Bank Alaska, Anchorage, Alaska; Webster Bank, National Association, Stamford, Conn.; Falcon National Bank, Foley, Minn.; Dollar Bank, Federal Savings Bank, Pittsburgh, Pa.; Home FS & LA, Bamberg, S.C.; and First National Community Bank, New Richmond, Wis.
A bank can receive one of four ratings from a CRA evaluation: “outstanding,” “satisfactory,” “needs to improve,” or “substantial noncompliance.” None of the banks in the above-noted groups were assigned the rating of “substantial noncompliance.”
FDIC Issues List of Banks Examined for CRA Compliance
OCC Releases CRA Evaluations for 21 National Banks and Federal Savings Associations