Community Reinvestment Act
Purpose of the Community Reinvestment Act
The Community Reinvestment Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low and moderate-income neighborhoods, consistent with safe and sound banking operations. It was enacted by the Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulations 12 CFR parts 25, 228, 345, and 563e.
Our Community Reinvestment Act Statement
In compliance with the Community Reinvestment Act (CRA), Premier Bank makes the following CRA statement:
The Board of Directors and senior management will take an active role in assuring overall compliance with the Community Reinvestment Act. The Board of Directors of the Bank will review and approve the Bank's CRA Policy, including the reasonableness of the delineated assessments area, at least annually and after each material change. All CRA related discussions are to be documented in minutes of the Board of Directors meetings. Further, the Board of Directors will review periodic self-assessments of the Bank's CRA compliance efforts. The Bank will make reasonable effort to ascertain the credit needs of the community and to develop and market products and service to meet those needs. All of the Bank's directors, officers and employees are encouraged to be familiar with the Bank's CRA goals and responsibilities. It is the Bank's policy to complete the standards imposed by CRA and related regulation by making safe and sound loans and investments and producing safe and sound services on which the Bank can expect to make a profit. The Bank will develop and apply flexible underwriting standards for loans that benefit low or moderate income geographies or individuals which are consistent with safe and sound banking practices.
Our Assessment Area
The philosophy of Premier Bank will be to invest available funds into the community to further community improvements and growth. The Bank has recognized, and will continue to recognize, that it has an affirmative obligation to serve the convenience and needs of the community it was charted to serve.
Although the Bank may obtain a part of its business from customers located in other areas of Florida and in other states, it is the local community which the Banks' Board of Directors and management believe the Bank has the greatest obligation to serve.
While the Bank seeks to meet and exceed the provisions of the Community Reinvestment Act, it also seeks to consistently meet the standards of its own mission statement:
The Mission of Premier Bank is to create a pleasant banking and work environment while achieving outstanding financial performance. Our bankers seek to be distinguished by their servant's heart and their sincere desire to treat others as they wish to be treated.
