FDIC bestows 2 ‘needs to improve,’ 3 ‘outstanding’ CRA ratings in January

Two banks were rated “needs to improve” and three were rated “outstanding” this January for their performance under the Community Reinvestment Act (CRA), the Federal Deposit Insurance Corp. (FDIC) said Wednesday.

The agency said it issued evaluation ratings for 50 banks this January under the anti-redlining statute. Except for the five noted above, all of the institutions were deemed to be “satisfactory” (there were no ratings of “substantial noncompliance in the batch).

Those rated outstanding were The Bank of New Glarus, New Glarus, Wis.; Rockland Trust Company, Rockland, Mass.; and First General Bank, Rowland, Heights, Calif.

Banks rated “needs to improve” included SouthStar Bank, S.S.B, Moulton, Texas; and Champion Bank, Parker, Colo.

FDIC Issues List of Banks Examined for CRA Compliance – April