Looking at 2013 for the state of Kentucky, CRA performance was Satisfactory. During 2013, a total of 40 CRA examinations were conducted for banks operating in the state. Of the 40 examinations, 34 were conducted by the FDIC, 4 by the Federal Reserve and 2 by the OCC.
Within this population of CRA examinations, 30 were conducted in small institutions and 9 in intermediate small institutions with only 1 large institution reviewed during the year.
Let’s start with the good news, none of the institutions examined for CRA performance fell to the Needs to Improve or Substantial Non-Compliance rating designations. However, no Kentucky institution examined in 2013 achieved an Outstanding CRA rating.
Now, there have been whispers among CRA Officers that it’s easier to track down Big Foot than an elusive Outstanding rating; but that is not the case. Of the 1,375 CRA examinations completed nationally in 2013, a total of 69 institutions (or 5%) earned this admirable distinction. Looking at the national data, all 3 regulators were willing to bestow this honor across varying bank sizes and numerous states.
While Kentucky banks should be proud of their performance, the 2013 exam results show that there is still room to enhance CRA efforts and pursue new opportunities in the state.