– Bangor Savings Bank has received its Community Reinvestment Act (CRA) Performance Evaluation from the Federal Deposit Insurance Corporation (FDIC) for the time period of July 2015 through October 2018. The bank received an overall rating of “Outstanding” and was characterized by the evaluation as a “leader” in all three of the performance tests: the Lending Test, the Investment Test, and the Service Test. The Outstanding rating is awarded to fewer than 8 percent of banks nationwide and is Bangor Saving’s fifth consecutive rating at the level.
The CRA evaluation assesses the bank’s initiatives and performance designed to help meet the credit needs of its entire community, including low and moderate income individuals, neighborhoods and businesses. The evaluation also includes an assessment of the bank’s community development investments in the bank’s assessment area. Overall, the bank originated community development loans of $233 million for affordable housing, economic development and community service during the three-year evaluation period.
“We are extremely proud of the ‘outstanding’ rating received by the FDIC. This achievement reinforces the bank’s ongoing commitment to meeting the many needs of the communities where we do business in Northern New England,” said James Robbins, senior vice president and CRA officer of Bangor Savings Bank.
For questions or a complete copy of the CRA evaluation, please contact Robbins at email@example.com