Of 74 CRA-rated banks, six are ‘outstanding,’ FDIC data show

Sixty-eight “satisfactory” and six “outstanding” ratings were awarded to banks in July for their performance under rules implementing the anti-redlining Community Reinvestment Act (CRA), according to the October list of banks examined for CRA compliance released Monday by the Federal Deposit Insurance Corp. (FDIC).

The six banks rated “outstanding” were Northeast Bank (Minneapolis, Minn.); The Tri-County Bank (Stuart, Neb.); Lakeland Bank (Oak Ridge, N.J.); The Bank of Castile (Batavia, N.Y.); Israel Discount Bank of New York (New York, N.Y.); and Columbia State Bank (Tacoma, Wash.).

The 1977 CRA is intended to encourage insured banks and thrifts to meet local credit needs, including those of low- and moderate-income neighborhoods, consistent with safe and sound operations. A bank examined for CRA compliance may earn a rating of outstanding, satisfactory, needs to improve, or substantial noncompliance.

FDIC Issues List of Banks Examined for CRA Compliance

October 2020 List of Banks Examined for CRA Compliance

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