{"id":286128,"date":"2018-10-08T06:00:23","date_gmt":"2018-10-07T20:00:23","guid":{"rendered":"https:\/\/www.saipantribune.com\/?p=286128"},"modified":"2018-10-08T06:00:23","modified_gmt":"2018-10-07T20:00:23","slug":"bank-of-guam-earns-fdic-outstanding-rating","status":"publish","type":"post","link":"https:\/\/www.saipantribune.com\/index.php\/bank-of-guam-earns-fdic-outstanding-rating\/","title":{"rendered":"Bank of Guam earns FDIC \u2018Outstanding\u2019 rating"},"content":{"rendered":"<p><strong>HAGATNA, Guam<\/strong>\u2014Bank of Guam earned its first ever \u201cOutstanding\u201d from the Federal Deposit Insurance Corporation for its Community Reinvestment Act evaluation during a three year period from Oct.15, 2015 to April 25, 2018.   <\/p>\n<p>The Community Reinvestment Act requires banks to meet the credit needs of low- and moderate-income communities. The exam assesses bank practices such as mortgage lending, small business lending, community development lending and investments, bank services to communities and employee community involvement.  For the overall rating and three subcategories, banks are assigned one of four ratings: Outstanding, Satisfactory, Needs to Improve or Substantial Noncompliance.<\/p>\n<p>The bank, now a \u201clarge\u201d institution by CRA measures, is rated \u201cOutstanding,\u201d meaning that the institution has an outstanding record of helping to meet the credit needs of its assessment area including low to moderate income neighborhoods, in a manner consistent with its resources and capabilities.   <\/p>\n<p>According to the rating, Bank of Guam demonstrated an \u201cexcellent responsiveness\u201d to credit needs; the distribution of borrowers reflects, given the product lines offered by the institution, \u201cexcellent penetration\u201d among retail customers of different income levels and business customers of different revenue size; and the institution is a \u201cleader\u201d in providing community development services.<\/p>\n<p>Joaquin P.L.G. Cook, interim president and CEO stated, \u201cEarning a CRA rating of \u201coutstanding\u201d is a reflection of the Bank\u2019s primary mission of serving and giving back to our community.  Since the day we were founded, we have been guided by values of giving back to the community in every way we are able to.  We are deeply grateful to our staff who work in support of our purpose\u2026it is what makes us \u201cThe People\u2019s Bank.\u201d <strong>(PR)<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>HAGATNA, Guam\u2014Bank of Guam earned its first ever \u201cOutstanding\u201d from the Federal Deposit Insurance Corporation&#8230;<\/p>\n","protected":false},"author":28,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[56,20279,51,1806],"class_list":["post-286128","post","type-post","status-publish","format-standard","hentry","category-local-news","tag-business-3","tag-cra","tag-guam","tag-hagatna"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/286128","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=286128"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/286128\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=286128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=286128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=286128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}