3 banks rated ‘outstanding,’ 1 ‘needs to improve,’ according to OCC’s latest batch of CRA evaluations

Of the 13 banks whose Community Reinvestment Act (CRA) ratings became public in February, three were rated “outstanding” while one was deemed “needs to improve,” according to a release Tuesday by the Office of the Comptroller of the Currency (OCC).

Rated outstanding were The First National Bank at St. James, St. James, Minn.; The First National Bank of Fairfax, Fairfax, Minn.; and TCF National Bank, Sioux Falls, S.D.; Third FS&LA of Cleveland, Cleveland, Ohio, was rated needs to improve.

The remaining nine banks rated were deemed “satisfactory,” the OCC said.

The February list of ratings contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings, the agency said. Evaluations under the anti-redlining CRA can yield any of four ratings: outstanding, satisfactory, needs to improve, and substantial noncompliance. No rating of substantial noncompliance was included in the February list.

OCC Releases CRA Evaluations for 13 National Banks and Federal Savings Associations

February 2021 evaluations