Four of the 18 banks whose performance ratings under the federal anti-redlining Community Reinvestment Act (CRA) were made public in May received the rating of “outstanding,” according to a release Monday by the Office of the Comptroller of the Currency (OCC).
The remaining 14 banks were rated “satisfactory,” the information shows, with none receiving the poorer ratings of “needs to improve” or “substantial noncompliance.”
In its release Monday, the OCC said the four banks rated “outstanding” were Armed Forces Bank, National Association, Ft. Leavenworth, Kan.; Trustmark National Bank, Jackson, Miss.; DSRM National Bank, Albuquerque, N.M.; and First National Bank of Scotia, Scotia, N.Y.
The OCC said that under the CRA, it assesses an institution’s record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with the safe and sound operation of the institution.
Monday’s list includes national banks, federal savings associations, and insured federal branches of foreign banks that have received CRA ratings, the agency said.
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