PROVIDENCE – Rockland Trust received an “outstanding” rating by the Federal Deposit Insurance Corp. and Mass. Division of Banks in a recent evaluation of its Community Reinvestment Act performance, according to a news release.
The designation, which is the highest possible rating, reflects its performance in the community through meeting credit needs of low- and middle-income borrowers, neighborhoods and businesses.
Factors that contributed to the bank’s strong rating, as noted in the evaluation, included:
- Originating $331.7 million across 1,013 residential loans, including through flexible and innovative loan programs.
- Originating $56.3 million across 134 small-business loans through the U.S. Small Business Administration Loan Program.
- Originating or renewing $276.6 million in 37 community-development loans.
- Donating $1.5 million to charitable organizations.
- Originating and maintaining $136.6 million across 451 community-development investments.
Nancy Lavin is a staff writer for the PBN. Contact her at Lavin@PBN.com.
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