9 banks get ‘outstanding’ CRA ratings in evals by FDIC, OCC; 1 ‘needs to improve’

Nine out of 69 federally supervised banks evaluated recently for their efforts under the anti-redlining Community Reinvestment Act (CRA) were rated “outstanding,” according to information released Tuesday by regulators, while one was deemed “needs to improve.”

The remaining 59 institutions were considered “satisfactory,” according to the agencies.

The Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corp. (FDIC) announced the ratings in separate releases. The OCC said the 23 ratings it released became public in April; the FDIC said the 46 ratings it released were assigned in February.

The OCC said it gave “outstanding” CRA ratings to Quantum National Bank, Suwanee, Ga.; Barrington Bank & Trust Company, National Association, Barrington, Ill.; Lake Forest Bank & Trust Company, National Association, Lake Forest, Ill.; Old Plank Trail Community Bank, National Association, Mokena, Ill.; Security National Bank of Omaha, Omaha, Neb.; and Chain Bridge Bank, National Association, McLean, Va.

The FDIC rated as “outstanding” the CRA performance of Security State Bank, Sutherland, Iowa; First Commerce Bank, Lakewood, N.J.; and ANZ Guam, Inc., Hagatna, Guam.

The rating of “needs to improve” was assigned to American Bank of Oklahoma, Collinsville, Okla., by the FDIC.

The FDIC notes that the 1977 CRA is intended to encourage insured banks and thrifts to meet local credit needs, including those of low- and moderate-income neighborhoods, consistent with safe and sound operations.

A bank may receive one of four ratings in a CRA evaluation: “outstanding,” “satisfactory,” “needs to improve,” or “substantial noncompliance.” None of the banks in Tuesday’s lists was given the “substantial noncompliance” rating.

OCC Releases CRA Evaluations for 23 National Banks and Federal Savings Associations

FDIC Issues List of Banks Examined for CRA Compliance