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This document evaluates the CRA performance of First State Bank, assessing its record of meeting community credit needs, particularly for low- and moderate-income neighborhoods.
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How to fill out community reinvestment act performance
How to fill out Community Reinvestment Act Performance Evaluation
01
Obtain the Performance Evaluation form from the regulatory agency or relevant authority.
02
Review the institution's prior evaluations and performance context.
03
Gather data on the institution's loan, investment, and service activities.
04
Analyze the demographic and economic characteristics of the community served.
05
Complete each section of the form, detailing the bank's performance in lending, investments, and community services.
06
Provide qualitative and quantitative data to support evaluations.
07
Include any additional documentation that may strengthen the performance appraisal.
08
Review the completed evaluation for accuracy and clarity.
09
Submit the evaluation to the regulatory agency by the specified deadline.
Who needs Community Reinvestment Act Performance Evaluation?
01
Financial institutions that are subject to the Community Reinvestment Act (CRA).
02
Regulatory agencies that evaluate financial institutions for CRA compliance.
03
Community organizations and advocacy groups assessing community investment efforts.
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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 is an assessment conducted by regulatory agencies to evaluate how well financial institutions meet the credit needs of the communities in which they operate, particularly low- and moderate-income neighborhoods.
Who is required to file Community Reinvestment Act Performance Evaluation?
Financial institutions, such as banks and savings associations, that are regulated by federal banking agencies are required to undergo a Community Reinvestment Act Performance Evaluation.
How to fill out Community Reinvestment Act Performance Evaluation?
Filling out the Community Reinvestment Act Performance Evaluation involves compiling data on the institution's lending activities, community development investments, and services offered to assess performance relative to community needs; this is typically guided by the evaluation process set forth by the relevant regulatory agency.
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 are fulfilling their obligations to provide credit and investment opportunities in underserved areas, thus promoting equitable economic development.
What information must be reported on Community Reinvestment Act Performance Evaluation?
The information required for the Community Reinvestment Act Performance Evaluation includes data on lending, investment activities, community services offered, and the geographic distribution of these activities, particularly focusing on low- and moderate-income areas.
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