Five earn ‘outstanding’ scores for CRA compliance; one dinged with ‘needs improvement’

Five banks earned “outstanding” Community Reinvestment Act (CRA) ratings – but one bank earned a “needs improvement” score – in evaluation ratings issued Friday by the federal insurer of bank deposits.

The Federal Deposit Insurance Corp. (FDIC) said 44 other banks received “satisfactory” ratings in the CRA ratings. (CRA is an anti-redlining law intended to encourage banks to meet local credit needs, including those of low- and moderate-income neighborhoods, consistent with safe and sound operations.)

Banks receiving the “outstanding” rating were: Mt. McKinley Bank, Fairbanks, Alaska; Bank of Lindsay, Lindsay, Neb.; Citizens Tri-County Bank, Dunlap, Tenn.; Pinnacle Bank, Fort Worth, Texas; Southside Bank, Tyler, Texas.

The sole bank receiving a “needs improvement” rating was First Bank of Ohio, Tiffin, Ohio.

No banks earned the “substantial noncompliance” rating from the agency.

FDIC Issues List of Banks Examined for CRA Compliance