1 out of 11 banks evaluated for CRA rated ‘outstanding,’ OCC says

Of the 11 banks whose Community Reinvestment Act (CRA) evaluation ratings became public in February, one received the rating of outstanding and the other 10 were rated satisfactory, the national bank regulator said Tuesday.

The bank rated outstanding under the anti-redlining statute was Peoples National Bank of Kewanee, Ill., according to the data released by the Office of the Comptroller of the Currency (OCC).

The agency noted that Tuesday’s list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings. The possible ratings are outstanding (O), satisfactory (S), needs to improve (NI), and substantial noncompliance (SN). None of the 11 banks in this round was rated either NI or SN.

OCC Releases CRA Evaluations for 11 National Banks and Federal Savings Associations