Four banks ‘outstanding,’ 63 ‘satisfactory’ under CRA, FDIC reports

Of the 67 banks whose Community Reinvestment Act (CRA) ratings were assigned in April, none was found wanting, with four rated ‘outstanding’ and 63 rated ‘satisfactory,’ the federal bank deposit insurer reported Friday.

In April, the Federal Deposit Insurance Corp. (FDIC) rated as “outstanding” for compliance with the 1977 anti-redlining law the following: First Texas Bank, Lampasas, Texas; Community First Banking Company, West Plains, Mo.; Chelsea Groton Bank, Norwich, Conn.; and Magyar Bank, New Brunswick, N.J.

One of four ratings is possible in a bank’s evaluation under the CRA: outstanding, satisfactory, needs improvement, and substantial noncompliance. No bank was rated below satisfactory in April, the FDIC lists show.

April 2020 List of Banks Examined for CRA Compliance

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