Saturday, April 4, 2015

Which Bank In Ohio Failed The FDIC's CRA?

Of all the banks evaluated in the most recent CRA report only one, located in Bellaire, Oh, failed with a rating of "NI" which means "needs improvement". Three banks, however, located in MS, NE, and UT received a rating of "outstanding".

The Federal Deposit Insurance Corporation (FDIC), an institution created in 1933 to restore confidence in the banking system, issued a list of banks that were evaluated in January 2015 for compliance with the Community Reinvestment Act (CRA). The CRA is a 1977 law designed to monitor the financial health of banks. In other words, it's a test of financial health. The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) mandated the public disclosure of CRA evaluations and the most recent evaluation was published last week. Here's a quick summary of what you will find. 

In the Atlanta Region (AL, FL, GA, NC, SC, VA, WV) all 9 banks received a satisfactory grade.

In the Chicago Region (IL, IN, KY, MI, OH, WI) 14 out of the 15 banks received a satisfactory grade. Only Belmont Savings Bank in Bellaire, Ohio (see below) received a rating of "Needs To Improve".

28348Belmont Savings BankP.O. BOX 654BELLAIREOH43906-0000NI

Of the 13 banks in the Dallas Region (AR, CO, LA, MS NM, OK, TN, TX) that were evaluated all were given a satisfactory rating except for the Bank of Morton (see below) in Morton, MS which received a rating of "O" for outstanding.

8556 Bank of Morton P.O. BOX 229 MORTON MS 39117-0000 O

In the Kansas City Region (IA, KS, MO, ND, NE, SD) all but one bank received a satisfactory rating -- Heartland Bank in Geneva NE received an "outstanding".

18740 Heartland Bank P.O. BOX 313 GENEVA NE 68361-0000 O

All eight banks in the New York Region (CT, DE, DC, MA, MD, ME, NH, NJ, NY, PA, PR, RI, VI, VT) received a satisfactory rating, as did all but one of the four banks in the San Fransisco region (AK, AZ, CA, GU, HI, ID, MT, NV, O, UT, WA, WY). Transportation Alliance Bank, Inc. in Ogden, UT received an "outstanding".

34781Transportation Alliance Bank, Inc.4185 HARRISON BOULEVARD, SUITE 200OGDENUT84403-0000O



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