Pair of banks each earn ‘outstanding’ and ‘needs improvement’ CRA ratings in September

Two banks received “outstanding” ratings for Community Reinvestment Act (CRA) compliance, and two others marked “needs improvement” in their ratings, according to September evaluation results released by the Federal Deposit Insurance Corp. (FDIC) Tuesday.

The evaluations were for state nonmember banks

Bank of Glen Ullin of Glen Ullin, N.D., and Montecito Bank & Trust of Santa Barbara, Calif., received the outstanding ratings. The Berkshire Bank of New York, N.Y., and the State Bank of India (California), of Los Angeles, received the “needs improvement” ratings.

Overall, FDIC said in a release, 63 banks were evaluated during September; 59 banks received ratings of “satisfactory.”

Banks in 30 states were evaluated; Minnesota banks had the most evaluations, at six during the month. That was followed by Illinois (5), and Georgia, Iowa, Pennsylvania and Texas, each with four banks evaluated.

FDIC Issues List of Banks Examined for CRA Compliance