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This document evaluates the performance of First State Bank of Mineral Wells, Texas, under the Community Reinvestment Act, assessing its record in meeting the credit needs of the community, particularly
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How to fill out community reinvestment act performance
How to fill out Community Reinvestment Act Performance Evaluation
01
Gather necessary financial and demographic data relevant to the lending institution's activities.
02
Review regulations and guidelines provided by the Office of the Comptroller of the Currency (OCC), Federal Reserve, or other regulatory bodies.
03
Evaluate the institution's lending, investment, and service activities within the assessment area.
04
Collect performance data on home mortgage loans, small business loans, and community development activities.
05
Assess the institution's efforts to meet the credit needs of low- and moderate-income (LMI) neighborhoods.
06
Complete the evaluation form by accurately entering quantitative and qualitative information.
07
Submit the completed Performance Evaluation to the appropriate regulatory agency for review.
Who needs Community Reinvestment Act Performance Evaluation?
01
Banks and financial institutions subject to the Community Reinvestment Act (CRA) evaluations.
02
Regulatory agencies responsible for overseeing compliance with the CRA.
03
Community organizations and advocacy groups interested in assessing a bank's performance in serving LMI communities.
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What is an outstanding CRA rating?
The following ratings definitions are to be used. “Outstanding” An institution in this group has an outstanding record of helping to meet the credit needs of its assessment area, including low- and moderate-income neighborhoods, in a manner consistent with its resources and capabilities.
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 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 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 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 areas of CRA?
Those four areas include Affordable Housing, Community Services, Economic Development, and Revitalization/Stabilization or rather fighting blight.
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 4 ratings of CRA?
Upon completion of a CRA examination, an overall CRA Rating is assigned using a four-tiered rating system. These ratings are: Outstanding, Satisfactory, Needs to Improve, and Substantial Noncompliance.
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What is Community Reinvestment Act Performance Evaluation?
The Community Reinvestment Act (CRA) Performance Evaluation assesses a financial institution's record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods.
Who is required to file Community Reinvestment Act Performance Evaluation?
All depository institutions, including commercial banks and savings associations, that meet certain asset thresholds and are engaged in providing financial services to their communities are required to file CRA Performance Evaluations.
How to fill out Community Reinvestment Act Performance Evaluation?
Institutions typically must gather data on their lending practices, community development activities, and other relevant metrics related to their service area. The evaluation usually includes comprehensive quantitative and qualitative analyses to demonstrate compliance with CRA requirements.
What is the purpose of Community Reinvestment Act Performance Evaluation?
The purpose of the CRA Performance Evaluation is to ensure that financial institutions are meeting the credit needs of their communities, particularly for low- and moderate-income individuals, and to prevent discriminatory lending practices.
What information must be reported on Community Reinvestment Act Performance Evaluation?
Institutions must report their lending activities, investment activities, and services provided in low- and moderate-income areas, as well as gather demographic data and other indicators of community involvement.
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