2 banks rated ‘needs to improve,’ 2 ‘outstanding’ in FDIC’s latest CRA ratings list

Of the 37 banks that received evaluation ratings under the anti-redlining Community Reinvestment Act (CRA) in June, two were rated “needs to improve” and two were deemed “outstanding,” their federal regulator said.

The Federal Deposit Insurance Corp. (FDIC) list shows the remaining 33 banks on this list were deemed “satisfactory.” None was shown with the fourth of the possible ratings, “substantial noncompliance.”

Rated “needs to improve” were Bank of Crocker, Waynesville, Mo., and American Trust and Savings Bank, Lowden, Iowa. Rated “outstanding” were First State Community Bank, Farmington, Mo., Boonville Federal Savings Bank, Boonville, Ind.s

The FDIC notes that the 1977 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.

FDIC Issues List of Banks Examined for CRA Compliance