Five earned ‘outstanding’ CRA evaluations, OCC November report shows

Five financial institutions earned Community Reinvestment Act (CRA) ratings of “outstanding,” while just one earned a “needs to improve” rating, in evaluations released in November, the Office of Comptroller of the Currency (OCC) reported Tuesday.

Those receiving “outstanding ratings” are: Rosedale Federal Savings & Loan Assn., Baltimore; Huron National Bank, Rogers City, Mich.; Sunrise Banks, N.A., St. Paul, Minn.; First-Lockhart National Bank, Lockhart, Texas; Hancock County Savings Bank, F.S.B., Chester, W.V.

The lone bank receiving a “needs improvement” rating is Goldwater Bank, N.A., Phoenix, Ariz.

A total of 29 evaluations were made public in its November report, the OCC said; the balance of the banks received “satisfactory” ratings. No banks received the lowest rating, “substantial noncompliance.” The evaluations include those made for national banks, federal savings associations, and insured federal branches of foreign banks.

All but four of the evaluations released in the report were conducted between May and September of this year; one (for HSBC Bank USA, N.A., of McLean, Va.) was from Dec. 31, 2014.

OCC Releases CRA Evaluations for 29 National Banks and Federal Savings Associations