11. The Community Reinvestment Act
enacted by Congress in 1977 is
intended to encourage financial
institutions to meet the credit needs of
communities, including LMI
neighborhoods consistent with safe and
sound banking practices.
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Confidential. For internal use only.
12. Compliance Obligation
or
Business Opportunity?
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Confidential. For internal use only.
13. Business Objectives
Grow CRA lending, investment, and service
Serve LMI populations and communities
Leverage public sector programs
Develop affordable housing
Support local economic development
Invest in community facilities
Practice “ABCD”
13
Confidential. For internal use only.
14. Target Market
Non-profits
Community development corporations
Public housing authorities
Social service agencies
Local government
State agencies
14
Confidential. For internal use only.
17. The Results
2009-2012 Lending
$225 Million - First time homeowner mortgage loans
$900 Million - Total residential mortgage loans
$450 Million - Small business loans
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Confidential. For internal use only.
18. 2009-2012 Lending
$150 Million - Community Development loans :
$20 Million - LIHTC projects
$22 Million - NMTC projects
$5 Million – Native American Reservation projects
330 Units of affordable housing
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Confidential. For internal use only.
19. 2009-2012 Investments
$18.8 million new CRA investments
$31.7 million total CRA investment balances
CRA Mortgage Backed Securities
LIHTC Funds
NMTC Equity Investments
Qualified School Construction Bonds
CRA Bond Funds
Socially Responsible Venture Capital Funds
19
Confidential. For internal use only.
20. PUBLIC DISCLOSURE
April 30, 2012
COMMUNITY REINVESTMENT ACT
PERFORMANCE EVALUATION
INSTITUTION RATING
INSTITUITION’S CRA RATING:
This institution is rated Outstanding.
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Confidential. For internal use only.
21. Success Stories:
Maine businesses are succeeding and Maine
Communities are achieving sustainable prosperity
with investments of private sector capital
encouraged by public sector development
programs.
Historic Preservation Tax Credits
New Markets Tax Credits
Case Studies
21
Confidential. For internal use only.