CRA – Knowing the competition

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Question:

Because small and intermediate small banks are not required to report annually for CRA, how can they assess their performance against that of similarly sized bank?

Answer:

CRA performance evaluations (examination reports) are publicly available. Banks of any size can review the performance evaluations of other banks in their area by downloading the reports from the regulators’ websites. Make a list of banks in your area(s) of similar size and product set as your bank and pull their reports. Review those rated satisfactory and outstanding, but also look at those rates needs to improve and substantial non-compliance for tips on what not to do.
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Learn more about Kathleen Blanchard’s webinar CRA Success: Business and Ag Lending