Among the other banks whose evaluations were made public in July, nine were rated “satisfactory” and none were rated “needs to improve” or “substantial noncompliance,” the OCC said in a Friday (Aug. 1) press release.
“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 release said.
The CRA rules were enacted in 1977 to combat discriminatory lending practices in minority neighborhoods.
The six banks rated “outstanding” in CRA compliance in July include Wilmington, Delaware-based TD Bank, N.A.; Las Vegas, Nevada-based Credit One Bank, N.A.; West Union, Ohio-based The National Bank of Adams County of West Union; McMinnville, Oregon-based First Federal Savings and Loan Association of McMinnville; Ladysmith, Wisconsin-based Ladysmith Federal Savings and Loan Association; and Greybull, Wyoming-based Big Horn Federal Savings Bank.
The nine banks rated “satisfactory” include Hartford, Alabama-based The First National Bank of Hartford; Chino, California-based Chino Commercial Bank, N.A.; Beverly Hills, California-based EH National Bank; Mattoon, Illinois-based First Mid Bank and Trust, N.A.; Brazil, Indiana-based The Riddell National Bank; Baxter, Minnesota-based American National Bank of Minnesota; Reno, Nevada-based Farm Bureau Bank, FSB; Greenville, Ohio-based Greenville Federal; and Houston, Texas-based Texas Gulf Bank, N.A.
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The OCC determines the CRA rating based on performance tests and standards outlined in the CRA rule and based on information about the institution and the community it serves, according to a questions and answers page about the program.
The OCC’s list includes national banks, federal savings associations and insured federal branches of foreign banks, per the release.
Two other banking regulators oversee and provide CRA ratings and performance evaluations for other types of banks. The Federal Reserve Board does so for state-chartered banks that are members of the Federal Reserve System, while the Federal Deposit Insurance Corp. does so for state-chartered banks that are not members of the Federal Reserve System.
