Six banks earn highest mark in CRA evaluations; still nothing less than ‘satisfactory’

Six banks received “outstanding ratings” – and none received less than “satisfactory” – among the 28 evaluations of banks for compliance with anti-redlining laws and rules made public last month, the federal regulator of national banks said Wednesday.

In a release, the Office of the Comptroller of the Currency (OCC) said the list of national banks, federal savings associations and insured federal branches of foreign banks that received “outstanding” ratings for their Community Reinvestment Act (CRA) compliance made public in March included:

  • E*TRADE Bank of Arlington, Va.;
  • The Granville National Bank of Granville, Ill.;
  • Westfield Bank of Westfield, Mass.;
  • Evans Bank, N.A., of Angola, N.Y.;
  • Texas Heritage National Bank of Daingerfield, Texas;
  • Titan Bank of Mineral Wells, Texas.

The agency provides four evaluations for financial institutions in gauging CRA compliance: outstanding, satisfactory, needs improvement and substantial non-compliance. Since July of 2019, the agency has issued no “needs improvement” or “substantial non-compliance” rating among the 127 CRA evaluation ratings made public. However, 28 of those evaluations were “outstanding,” according to OCC.

OCC Releases CRA Evaluations for 28 National Banks and Federal Savings Associations