First Shore Federal Savings & Loan Association has again been awarded a rating of “outstanding” in a Community Reinvestment Act (CRA) performance evaluation conducted by the federal Office of the Comptroller of the Currency.
The public rating, which covers the period through mid-2019, is an evaluation of the institution’s record of meeting the credit needs of the entire community, including low- and moderate- income neighborhoods, consistent with the safe and sound operation of the institution. The rating is determined after a detailed examination process conducted by the agency.
The CRA rating takes into account the association’s lending and community development activities. The report cited the association’s record and geographical distribution of mortgage lending and particularly noted that the association’s performance in community development loans, investments and services elevated its performance to outstanding. The evaluation report is available at any branch of First Shore.
“We are honored to again be recognized for our community reinvestment activities,” said Marty Neat, president and CEO. “For many years, we’ve used the advertising slogan ‘community minded – just like you’. It’s a fundamental part of what First Shore is and this report adds credibility to that mission.”
Approximately 20 percent of federally insured banks and thrifts hold an outstanding rating for CRA at any one time. First Shore has now held an outstanding rating continuously for 25 years.
First Shore Federal is headquartered in Salisbury, Md., and has eight branches on the Lower Maryland Shore and in Sussex County.