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This document evaluates the Community Reinvestment Act (CRA) performance of F & M Bank-Keyser, Inc. It assesses the institution's efforts to meet the credit needs of its community, particularly for
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How to fill out community reinvestment act performance
How to fill out Community Reinvestment Act Performance Evaluation
01
Gather all necessary data about the financial institution's lending, investment, and service activities.
02
Identify and compile the demographic and socioeconomic information of the communities served.
03
Review the previous CRA Performance Evaluation to understand past performance and expectations.
04
Document community needs through assessments, surveys, or reports from local organizations.
05
Complete the evaluation forms accurately, providing quantitative and qualitative data as required.
06
Assess performance categories, including lending, investment, and service delivery.
07
Provide context for any initiatives undertaken by the institution that support CRA objectives.
08
Submit the evaluation to the appropriate regulatory agency by the deadline.
Who needs Community Reinvestment Act Performance Evaluation?
01
Banks and financial institutions subject to the Community Reinvestment Act (CRA) requirements.
02
Regulatory agencies that oversee CRA compliance and performance evaluations.
03
Community organizations and advocacy groups that monitor financial institution activities in the community.
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People Also Ask about
What are the 4 general ratings on the CRA evaluation?
The Overall CRA rating is established by weighting the institution's State CRA rating, providing an overall CRA rating. CRA ratings are assigned using a four-tiered rating system: Outstanding, Satisfactory, Needs to Improve, and Substantial Noncompliance.
What are the three tests used in a CRA examination?
Streamlined procedures with an emphasis on lending were adopted for small institutions, while large banks are evaluated under a three-part lending, service and investment test. Wholesale and limited purpose banks are evaluated under a community development test.
What three tests are used to evaluate CRA performance?
This performance evaluation assesses the bank's CRA performance under the large retail bank Lending, Investment, and Service Tests.
What is included in a CRA performance evaluation?
The CRA performance evaluation (PE) generally includes a description of the institution and its assessment area(s); conclusions about the bank's performance in each of its assessment areas: its CRA rating(s); and the facts, data, and analyses supporting the bank's conclusions and rating(s).
What are the factors in evaluating an institution's CRA performance?
The bank's product offerings and business strategy. Institutional capacity and constraints. The bank's past performance and the performance of similarly situated lenders. The bank's public file and any written comments about the bank's CRA performance submitted to the bank or the FDIC.
What are the four rating categories used to report Community Reinvestment Act CRA examination results?
A2. RatingTotal points Outstanding 20 or over Satisfactory 11 through 19 Needs to Improve 5 through 10 Substantial Noncompliance 0 through 4
What are the 4 general ratings on the CRA evaluation?
The Overall CRA rating is established by weighting the institution's State CRA rating, providing an overall CRA rating. CRA ratings are assigned using a four-tiered rating system: Outstanding, Satisfactory, Needs to Improve, and Substantial Noncompliance.
What is included in a CRA performance evaluation?
The CRA performance evaluation (PE) generally includes a description of the institution and its assessment area(s); conclusions about the bank's performance in each of its assessment areas: its CRA rating(s); and the facts, data, and analyses supporting the bank's conclusions and rating(s).
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What is Community Reinvestment Act Performance Evaluation?
The Community Reinvestment Act Performance Evaluation assesses a financial institution's record of meeting the credit needs of its local community, particularly low- and moderate-income neighborhoods.
Who is required to file Community Reinvestment Act Performance Evaluation?
Financial institutions, including banks and savings associations, that are federally insured and have assets above a certain threshold are required to file the Community Reinvestment Act Performance Evaluation.
How to fill out Community Reinvestment Act Performance Evaluation?
To fill out a Community Reinvestment Act Performance Evaluation, institutions must collect data on their lending, investment, and service activities, then analyze this information against the standards set by the regulatory agencies.
What is the purpose of Community Reinvestment Act Performance Evaluation?
The purpose of the Community Reinvestment Act Performance Evaluation is to ensure that financial institutions provide fair and equitable access to credit for all segments of their communities, promoting investment in underserved areas.
What information must be reported on Community Reinvestment Act Performance Evaluation?
Institutions must report information related to their lending activities, investments in community development, and the availability and accessibility of their services, particularly in low- and moderate-income areas.
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