Three banks earn ‘outstanding’ CRA ratings, but two ‘need to improve’

Three banks received anti-redlining compliance ratings of “outstanding,” but two others received “needs to improve ratings,” according to evaluations released Monday by the federal bank deposit insurance agency.

The Federal Deposit Insurance Corp. (FDIC) said a total of 56 banks received ratings in July for compliance with the Community Reinvestment Act (CRA). In addition to the five banks receiving the outstanding (O) and needs to improve (NI) ratings, 51 other banks received ratings of “satisfactory” (S). No bank received a rating of “substantial non-compliance” (SN), according to the FDIC.

The three banks with “O” ratings are: Security Federal Bank of Aiken, S.C.; Carver State Bank, Savannah, Ga.; and First Hawaiian Bank, Honolulu, Hawaii.

The two banks with the “NI” ratings are: The Northern State Bank of Gonvick, Gonvick, Minn.; and ESSA Bank & Trust, Stroudsburg, Pa.

FDIC Issues List of Banks Examined for CRA Compliance