OCC rates 2 banks ‘outstanding,’ 15 ‘satisfactory’ for CRA

Of the 17 banks whose evaluation ratings under the anti-redlining Community Reinvestment Act (CRA) were released in April by the national bank regulator, two received ratings of “outstanding” and the remainder were rated “satisfactory.”

The two banks rated “outstanding” were First National Bank of Coffee County, Douglas, Ga.; and St. Martin National Bank in St. Martin, Minn. Both are listed as “small” banks.

The OCC said its list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings. The possible ratings are “outstanding,” “satisfactory,” “needs to improve,” and “substantial noncompliance.” None of the banks on the April list received either of the two poorest ratings.

OCC Releases CRA Evaluations for 17 National Banks and Federal Savings Associations