Forty-five banks were deemed “satisfactory” and four “outstanding” in evaluation ratings assigned in November under the federal bank deposit insurer’s anti-redlining Community Reinvestment Act (CRA) rules, according to data released Thursday.
The four banks rated “outstanding” by the Federal Deposit Insurance Corp. (FDIC) were Bankers Trust Company, Des Moines, Iowa; Machias Savings Bank, Machias, Maine; TowneBank, Portsmouth, Va.; and Barclays Bank Delaware, Wilmington, Del.
The FDIC notes that the CRA requires it to assess a bank’s record of meeting the credit needs of its entire community, including those of low- and moderate-income neighborhoods, consistent with safe and sound operations. A bank may receive any of four ratings in a CRA evaluation; the November list included no bank rated “needs to improve” or “substantial noncompliance.”
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