Latest releases of CRA ratings show 17 out of 97 banks were ‘outstanding’; 4 rated ‘needs to improve’

Federal banking agencies released their latest batch of Community Reinvestment Act (CRA) evaluation ratings Thursday, and of the 97 banks on the two lists, none was labeled for “substantial noncompliance.”

Instead, 17 of the institutions were rated “outstanding,” 76 were “satisfactory,” and four were rated “needs to improve.”

The anti-redlining Community Reinvestment Act, enacted in 1977, is aimed at encouraging insured banks and thrifts to meet local credit needs, including those of low- and moderate-income neighborhoods, consistent with safe and sound operations.

The CRA ratings were reported by the Federal Deposit Insurance Corp. (FDIC) and the Office of the Comptroller of the Currency (OCC). The OCC’s release says the ratings noted were those which became publicly available in June. The FDIC’s release says that agency’s ratings were assigned in April.

“Outstanding” ratings were assigned as follows:

By the FDIC –

  • Vermont State Bank, Vermont, Ill.
  • FNB Bank, Inc., Mayfield, Ky.
  • First Citizens State Bank, Whitewater, Wis.
  • Greenfield Banking Company, Greenfield, Tenn.
  • Alliance Bank, Sulphur Springs, Texas
  • Hills Bank and Trust Company, Hills, Iowa
  • Barclays Bank Delaware, Wilmington, Del.
  • Middlesex Savings Bank, Natick, Mass.

By the OCC –

  • Legacy National Bank, Springdale, Ark.
  • United Bank & Trust National Association, Marshalltown, Iowa
  • Chester National Bank, Chester, Ill.
  • The Fairfield National Bank, Fairfield, Ill.
  • Home Federal Savings Bank, Rochester, Minn.
  • First S & LA, Mebane, N.C.
  • First FS & LA, Newark Ohio
  • Metabank, Sioux Falls, S.D.
  • Wells Fargo Bank, National Association, Sioux Falls, S.D.

A “needs to improve” rating was assigned by the OCC to Cfsbank, Charleroi, Pa. The FDIC rated as “needs to improve” Merchants and Manufacturers Bank, Joliet, Ill.; Greenfield Banking Company, Greenfield, Ind.; and NBKC Bank, Overland Park, Kan.

FDIC July 2020 List of Banks Examined for CRA Compliance

OCC CRA Performance Evaluations, June 2020

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