The OCC has released a list of 15 OCC-supervised institutions evaluated for compliance with the Community Reinvestment Act whose evaluations became public in March. Of those evaluations, six have been rated as “outstanding” including Pyramax Bank, FSB in Greenfield. Congratulations to Pyramax Bank for earning this commendable evaluation.
The evaluation report noted that the major factors that support this rating include:
- The Lending Test rating is based on reasonable performance in the state of Wisconsin.
- The Community Development (CD) Test is based on excellent performance in the state of Wisconsin.
- The LTD ratio is more than reasonable given the bank’s size, financial condition, and the credit needs of its AA.
- PyraMax Bank, FSB (PyraMax) originated a substantial majority of loans in its assessment area (AA). The bank originated or purchased 81.9 percent of its total loans by number and 82.3 percent by dollar amount inside its AAs during the evaluation period.
- The borrower distribution of loans among borrowers of different incomes and small loans to businesses is considered reasonable.
- The geographic distribution of home mortgage loans reflects reasonable distribution among geographies and excellent distribution of small loans to businesses.
- PyraMax demonstrated excellent responsiveness to CD needs by engaging in a combination of CD loans, qualified investments, and CD services.
By, Alex Paniagua