FDIC: 4 banks ‘outstanding,’ 1 ‘needs to improve’ among 72 rated for CRA in January

Of 72 banks rated for Community Reinvestment Act (CRA) performance in January, four were rated “outstanding,” one was rated “needs to improve,” and the rest – 93% of those rated – were deemed “satisfactory,” according to a Federal Deposit Insurance Corp. (FDIC) release issued Friday.

The FDIC assigned CRA ratings in January to 72 banks distributed among six regions: seven in the Atlanta region; 11 in the Chicago region; 11 in the Dallas region; 21 in the Kansas City region; 14 in the New York City region; and eight in the San Francisco region.

Those rated “outstanding” were the Bank of Bluffs, Bluffs, Ill.; Spring Bank, Bronx, N.Y.; First Hawaiian Bank, Honolulu; and Freedom Bank, Columbia Falls, Mont.

Rated “needs to improve” was the Bank of Baroda in New York City.

The anti-redlining CRA is aimed at encouraging banks and thrifts to meet local credit needs, including those of low- and moderate-income neighborhoods. Possible CRA ratings from the FDIC include “outstanding,” “satisfactory,” “needs to improve,” and “substantial noncompliance.”

FDIC Issues List of Banks Examined for CRA Compliance

April 2019 List of Banks Examined for CRA Compliance

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