Seven of the 23 banks whose Community Reinvestment Act (CRA) ratings became public in August were rated “outstanding,” with the remaining 16 rated “satisfactory,” according to data released by the national bank regulator.
The August list, released Tuesday by the Office of the Comptroller of the Currency (OCC), included no institution rated “needs to improve” or “substantial noncompliance” under the anti-redlining statute. (The only ratings available are “outstanding,” “satisfactory,” “needs to improve,” and “substantial noncompliance.”)
The seven banks rated “outstanding” were:
- United National Bank, Cairo, Ga.
- The First National Bank of Litchfield, Litchfield, Ill.
- Golden Belt Bank, FSA, Hays, Kan.
- Macatawa Bank, National Association, Holland, Mich.
- The First National Bank of Fairfax, Fairfax, Minn.
- VeraBank, National Association, Henderson, Texas
- Morgan Stanley Bank, N.A., Salt Lake City, Utah
The OCC said that under the anti-redlining CRA, it assesses an institution for its record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with safe, sound operations.
OCC Releases CRA Performance Evaluations for 23 National Banks and Federal Savings Associations
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