Four of the 18 banks that received Community Reinvestment Act (CRA) evaluation ratings in March from the national bank regulator were deemed “outstanding,” with the remaining 14 rated “satisfactory,” according to information released Wednesday.
The four “outstanding” ratings under the anti-redlining statute went to Evergreen National Bank, Evergreen, Colo.; The First National Bank of Jeanerette, Jeanerette, La.; The First National Bank and Trust Co., Chickasha, Okla.; and Gilmer National Bank, Gilmer, Texas.
Under the CRA, the OCC 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 such institution, the agency noted.
A bank may get one of four ratings in a CRA evaluation: “outstanding,” “satisfactory,” “needs to improve,” or “substantial noncompliance.” No bank rated “needs to improve” or “substantial noncompliance” was on Wednesday’s list from the Office of the Comptroller of the Currency (OCC).
The OCC said the list includes the national banks, federal savings associations, and insured federal branches of foreign banks that have received CRA ratings.
OCC Releases CRA Performance Evaluations for 18 National Banks and Federal Savings Associations
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