Two banks earn ‘outstanding’ CRA ratings, while a third slapped with ‘significant non-compliance’

Two banks received “outstanding” ratings for compliance with anti-redlining rules, while one received a rating of “significant non-compliance” in recent evaluations by the federal insurer of bank deposits.

The Federal Deposit Insurance Corp. (FDIC) said 62 other banks received ratings of “satisfactory.”

Banks receiving “outstanding” ratings for their compliance with rules implementing the anti-redlining Community Reinvestment Act were Seaman’s Bank of Provincetown, Mass., and Liberty Bank of Middletown, Conn.

Receiving the only “significant noncompliance” rating was a Salt Lake City institution, Liberty Bank, Inc. There was no indication from the FDIC that the Connecticut and Utah banks were associated in any way.

FDIC Issues List of Banks Examined for CRA Compliance