FNB Bank was recently awarded the “Outstanding” rating by the Federal Deposit Insurance Corporation (FDIC) for its commitment to the Community Reinvestment Act (CRA).
The bank reported the FDIC recently conducted an examination process from April 2017 to April 2020. During that time the FDIC examined the bank’s lending and community development services based on the bank’s service area.
By being awarded the rating, the organization acknowledged that FNB is continuing to meet the needs of their communities, including low and moderate-income neighborhoods and are consistent with safe and sound banking operations.
FNB’s Marketing Director Brooke Wiles says they are honored to receive the Outstanding rating again from the FDIC. She adds it’s a great accomplishment to have the continued efforts of their staff recognized with the distinction that very few banks achieve.
Banks are evaluated on a variety of information pertaining to the communities they serve and how they rate against their competitors and peers in the areas of lending, investments, and community services. Regulators usually spend several weeks reviewing each bank’s loans and the community services they provide, while also interviewing a variety of people within the communities about economic development trends, etc. An overall CRA rating is then assigned to each bank using a four-tiered rating system of Outstanding, Satisfactory, Needs to Improve, or Substantial Noncompliance.