Bangor Savings Bank earns distinction

    Bangor Savings Bank has received its Community Reinvestment Act (CRA) Performance Evaluation from the Federal Deposit Insurance Corporation (FDIC). The Bank received an overall rating of “Outstanding” and was characterized by the evaluation as a “leader” in all three of the performance tests:  the Lending Test, the Investment Test, and the Service Test. This rating is awarded to fewer than five percent of banks nationwide and is Bangor Savings Bank’s second consecutive outstanding rating.
    The CRA evaluation assesses the Bank’s initiatives and performance designed to help meet the credit needs of its entire community, including low and moderate income individuals, neighborhoods and businesses. The evaluation also includes an assessment of the Bank’s community development investments in the Bank’s assessment area. Overall, the Bank originated community development loans of $144 million for affordable housing and economic development from May 2006 through June 2009.
    “We are proud of the ‘outstanding’ rating received by the FDIC. This achievement reinforces the Bank’s commitment to meeting the needs of the communities where we do business” said John Moore, Senior Vice President and CRA Officer of Bangor Savings Bank.
    In addition, Bangor Savings Bank was one of 12 banks in the country selected and profiled by the FDIC in a report to the U.S. Congress for its record of service to low to moderate income individuals and responsiveness to the barriers to access within its largely rural and difficult to service assessment area in a report “Bank’s Efforts to Serve the Unbanked and Underbanked” published in December of 2008.