Five earn ‘outstanding,’ one ‘needs improvement’ for compliance with anti-redlining law

Five banks earned “outstanding” ratings for their compliance with anti-redlining laws and rules – and one bank earned a “needs improvement” score – out of 77 ratings for fulfillment of the requirements issued in July, the federal insurer of bank deposits said Friday.

In its monthly report of banks recently evaluated for compliance with the Community Reinvestment Act (CRA) – with ratings assigned in July – the Federal Deposit Insurance Corp. (FDIC) said the five banks receiving the “outstanding” ratings were: Bedford Loan & Deposit Bank of Bedford, Ky.; Wisconsin Bank & Trust of Madison, Wis.; Citizens Bank of Butler, Mo.; Newtown Savings Bank of Newton, Conn.; and Beneficial State Bank, Oakland, Calif.

First Bank of Ohio in Tiffin, Ohio, was the only bank to receive a “needs improvement” rating, the FDIC said.

The remaining 71 banks received ratings of “satisfactory” from the agency.

FDIC Issues List of Banks Examined for CRA Compliance