WASHINGTON — The Federal Deposit Insurance Corporation has evaluated scores of non-member banks throughout the nation, including more than 50 in Oklahoma, to gauge their compliance with the Community Reinvestment Act.
The CRA is a 1977 law intended to encourage insured banks and thrifts to meet local credit needs, including those of low- and moderate-income neighborhoods, consistent with safe and sound operations. As part of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, Congress mandated the public disclosure of an evaluation and rating for each bank or thrift that undergoes a CRA examination.
Among the Oklahoma institutions evaluated over the past two years and rated “satisfactory” were Duncan’s Bank of Commerce, The Farmers Bank of Carnegie, Legacy Bank in Hinton, First Bank and Trust Co. in Duncan, Peoples State Bank in Blair, Walters Bank and Trust Co., and Peoples Bank and Trust Co. in Ryan.
In addition, Washita Valley Bank of Fort Cobb and Community Bank of Oklahoma in Verden were both rated “satisfactory” in May 2019.
A copy of an individual bank’s Community Reinvestment Act evaluation is available directly from the bank, which is required by law to make the material available upon request, or from the FDIC’s Public Information Center.