A total of 394 banking institutions are on the federal bank deposit insurer’s anti-redlining Community Reinvestment Act (CRA) evaluation schedule over the second and third quarters of this year, the agency said Monday.
Of those, 220 banks are slated for these evaluations in the second quarter; another 174 are scheduled for the third quarter.
The largest numbers of banks to be reviewed in the second quarter are in Illinois (12), Georgia (10), Missouri (10), and Texas (9). In the third quarter, the largest numbers of banks slated are in Georgia (13), Texas (13), Iowa (11), Illinois (11), California (10), and Missouri (9).
The FDIC noted that CRA examinations are scheduled based on an institution’s asset size and CRA rating. It said that absent reasonable cause, an institution with $250 million or less in assets and a CRA rating of satisfactory can be subject to a CRA examination no more frequently than once every 48 months; and an institution with $250 million or less in assets and a CRA rating of outstanding can be subject to a CRA examination no more frequently than once every 60 months.