Three banks – including two in Utah – earned “outstanding” ratings in December for their compliance with anti-redlining rules, the federal insurer of bank deposits said Friday.
Another 49 banks, the Federal Deposit Insurance Corp. (FDIC) reported, earned “satisfactory” ratings for their fulfillment of regulations implementing the Community Reinvestment Act (CRA), a 1977 law that encourages banks to meet local credit needs, including those of low- and moderate-income neighborhoods.
Winning the “outstanding” ratings – the highest of those conferred on banks in their CRA compliance exams – were:
- Nelnet Bank, Draper, Utah;
- Prime Alliance Bank, Woods Cross, Utah;
- Santa Cruz County Bank, Santa Cruz, Calif.
No bank in December received either of the lowest two ratings, needs to improve and substantial noncompliance, the FDIC reported.