FDIC grades 8 banks ‘outstanding’ for CRA compliance

Eight of the 58 banks recently evaluated for compliance with the anti-redlining Community Reinvestmet Act (CRA) were deemed ‘outstanding,’ with the rest receiving ‘satisfactory’ ratings, according to data released by the Federal Deposit Insurance Corp. (FDIC).

The FDIC released its latest list of CRA evaluation ratings, those assigned in October, on Monday. A bank may receive one of four ratings from its CRA exam: outstanding, satisfactory, needs to improve, and substantial noncompliance.

The banks rated “outstanding” in October are:

  • Bay Bank, Green Bay, Wis.
  • TriStar Bank, Dickson, Tenn.
  • HomePride Bank, Mansfield, Mo.
  • Comenity Bank, Wilmington, Del.
  • Republic Bank, Philadelphia
  • Montecito Bank & Trust, Santa Barbara, Calif.
  • Comenity Capital Bank, Draper, Utah
  • Sallie Mae Bank, Salt Lake City

FDIC Issues List of Banks Examined for CRA Compliance