The list of 25 Community Reinvestment Act (CRA) ratings of banking institutions that became public during the month of March includes 18 ratings of “satisfactory” and seven ratings of “outstanding,” the Office of the Comptroller of the Currency (OCC) said Tuesday.
The list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings. The possible ratings are outstanding, satisfactory, needs to improve, and substantial noncompliance.
The CRA, enacted in 1977, prohibits redlining and encourages efforts to meet the credit needs of all community members, including residents of low- and moderate-income neighborhoods.
The seven institutions rated as “outstanding” for CRA performance are:
- Security Federal Savings Bank, Jasper, Ala.;
- First National Bank, Hamilton, Ala.;
- First National Bank and Trust, Phillipsburg, Kan.;
- TCF National Bank, Sioux Falls, S.D.;
- First National Bank in Philip, Philip, S.D.;
- Amarillo National Bank, Amarillo, Texas;
- First National Community Bank, New Richmond, Wis.
Most of the March ratings were based on evaluations conducted between September 2018 and January 2019. However, the evaluation date for TCF National Bank was in December 2016.
OCC Releases CRA Evaluations for 25 National Banks and Federal Savings Associations