2 banks in MN, PA rated ‘outstanding’ for CRA, OCC reports; 14 are ‘satisfactory’

Two of the 16 banks whose evaluations under the anti-redlining Community Reinvestment Act (CRA) became public in January were given “outstanding” marks, the Office of the Comptroller of the Currency (OCC) said Tuesday.

The outstanding ratings for their efforts under the CRA went to Minnesota National Bank, Sauk Centre, Minn., and First National Bank of Pennsylvania, Greenville, Pa. The OCC said the remaining 14 banks were rated satisfactory.

A bank may receive any of four ratings in connection with their CRA evaluations: outstanding, satisfactory, needs to improve, and substantial noncompliance. The OCC said its list includes only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings.

OCC Releases CRA Evaluations for 16 National Banks and Federal Savings Associations