The Federal Deposit Insurance Corp. gave "substantial noncompliance" Community Reinvestment Act ratings to two banks with histories of poor CRA compliance, Oakwood State Bank in Texas and Saint Casimir's Savings Bank in Baltimore.
Oakwood State Bank - which does not offer interest-bearing deposits and has just one office - received a "substantial noncompliance" rating during a 2005 evaluation, and "needs to improve" ratings in 2003, 2001, 1999, and 1998.
In the latest evaluation of the $2.5 million-asset Oakwood, released Thursday by the FDIC, examiners noted an "unacceptable record" in lending. The Community Reinvestment Act requires banks and thrifts to offer services and make loans in areas with low and moderate income.
Oakwood State's president, R.R. Wiley, said its lending programs are so limited that it has a hard time meeting CRA requirements.
