Banking regulators rated eight banks “outstanding” for their efforts under the anti-redlining Community Reinvestment Act (CRA) and deemed one “needs to improve,” with the remaining institutions deemed satisfactory, the agencies said in releases last week on the most recently available ratings.
The Federal Deposit Insurance Corp. (FDIC) released the CRA ratings of 59 banks Friday, with all but 55 considered “satisfactory.” The data showed that three banks were rated “outstanding” – Movement Bank, Danville, Va.; The Dime Bank, Honesdale, Pa.; and State Bank of Southern Utah, Cedar City, Utah. One bank – The Union Banking Company, West Mansfield, Ohio – was deemed “needs to improve,” it showed.
Of the 19 ratings released by the Office of the Comptroller of the Currency (OCC), 14 were ratings of “satisfactory,” while five were ratings of “outstanding.”
The banks the OCC deemed to be “outstanding” for their CRA performance were Peoples National Bank, N.A., Mcleansboro, Ill.; Lake City Federal Bank, Lake City, Minn.; Mid-Central National Bank, Wadena, Minn.; Lake Shore Savings Bank, Dunkirk, N.Y.; and First Savings Bank, Beresford, S.D.
None of the banks in the agencies’ most recent CRA ratings lists was assigned the rating of “substantial noncompliance.”
The FDIC said the ratings it released last week were assigned in June. The OCC said the ratings it released became public in August.
FDIC Issues List of Banks Examined for CRA Compliance
OCC Releases CRA Evaluations for 19 National Banks and Federal Savings Associations