March 13, 2007
Los Alamos National Bank Receives Outstanding CRA Rating for Performance and Service
Los Alamos National Bank (LANB) prides itself in its continuous commitment
to the community, and that commitment has earned them an 'Outstanding' CRA
rating, a national performance measurement.
The CRA (Community Reinvestment Act), which was enacted in 1977, gives federal
regulatory agencies, including the Office of the Comptroller of Currency; Board
of Governors of the Federal Reserve system; Federal Deposit Insurance Corporation;
and Office of Thrift Supervision, the task of assessing every bank's performance
in helping to meet the credit needs of its community. The agencies assigns a
CRA rating to the bank based on its performance, and has the authority to deny
applications for federal charters, mergers, acquisitions, etc., if the bank has
a record of poor performance in meeting these needs.
Banks are evaluated in the three categories of lending, investment and service,
and are assigned one of five ratings: Outstanding, High, Satisfactory, Low
Satisfactory, Needs to Improve and Substantial Noncompliance.
LANB received the highest possible 'Outstanding' rating for demonstrating:
- Excellent responsiveness to credit needs in its assessment area(s), taking into account the number and amount of home mortgage, small business, small farm, and consumer loans, if applicable, in its assessment area(s).
- A substantial majority of its loans are made in its assessment area(s).
- An excellent geographic distribution of loans in its assessment area(s).
- An excellent distribution, particularly in its assessment area(s), of loans among individuals of different income levels and businesses of different sizes, given the product lines offered by the bank.
- An excellent record of serving the credit needs of highly economically disadvantaged areas in its assessment area(s), low-income individuals, or businesses with gross annual revenues of $1 million or less, consistent with safe and sound operations.
- Extensive use of innovative or flexible lending practices in a safe and sound manner to address the credit needs of low- or moderate-income individuals or geographies.
- It is a leader in making community development loans.
"The Outstanding CRA rating demonstrates Los Alamos National Bank's continued
commitment to our customers," said LANB compliance officer Deborah Goodwin.
"I am very proud to work for an organization with such an exceptional standard
of giving back to the community."
For more information on the CRA, visit http://www.occ.treas.gov.
Los Alamos National Bank (LANB) is one of the largest independent banks in
New Mexico with assets of approximately $1.3 billion. Established in 1963 by
a group of local investors, LANB continues to be locally owned and operated by
Trinity Capital Corporation (TCC). TCC provides banking, trust and investment
services, real estate appraisal and title company services to northern New Mexico
and employs approximately 287 people in its offices in Los Alamos, White Rock
and Santa Fe.
|
