The rating, released by the federal agency on
The "satisfactory" rating was unchanged from
Bank ratings issued in the review by the OCC can range from outstanding and satisfactory to substantial noncompliance. Banks are evaluated for performance with lending, investment and service.
Reasons given for
Adequate geographic distribution of home mortgage loans and excellent distribution of small loans to business.
Excellent distribution of home loans among borrowers of different income levels and businesses of different sizes.
Adequate level of community development investment given its size, resources and opportunities.
Accessible bank branch system.
Adequate level of community development services.
Besides Provident, ratings for 40 other national banks, federal savings associations and insured federal branches of foreign banks were made public. All together, five banks were rated outstanding and 36 were rated satisfactory. No institution received a rating of noncompliance or in need of improvement.
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