First Bank & Trust received the highest possible rating from the Federal Reserve Bank for its most recent performance under the Community Reinvestment Act (CRA). The Community Reinvestment Act of 1977 requires federally insured deposit-taking institutions to support the borrowing needs of all the communities where they do business, including low- and moderate-income areas.
The “Outstanding” rating is based on First Bank & Trust’s performance in a variety of lending, investment and service tests. First Bank & Trust currently has nine locations across Evanston, Itasca, Naperville, Skokie and Winnetka.
"First Bank & Trust is committed to the economic growth of the customers and communities we serve throughout Chicagoland," said Jay Lytle, Managing Director of First Bank & Trust. "We are pleased to receive this recognition as an outstanding bank from the Federal Reserve Bank of Chicago, which represents our mission of being the most responsive and responsible bank in the communities we serve.”
The CRA evaluation made specific references to First Bank & Trust’s excellent responsiveness to the needs of its assessment area through community development loans, investments and services. Highlights from the report about the bank’s CRA-related efforts include:
- Originating a significant number of community development loans to various service organizations in its assessment area. Lending services ranged from providing working capital for local small businesses, loans to service organizations, loans that promote economic development and job creation, loans to support services for low- and moderate-income individuals, loans to create or maintain affordable housing, and loans to businesses in areas which stimulate the revitalization and stabilization of local communities.
- Made a number of qualified community development investments to meet the financial needs identified by community representatives throughout the area, including education programs and affordable housing.
- Contributed numerous grants and donations to not-for-profit organizations whose focus is primarily on providing affordable housing, meeting the needs of low- to moderate-income individuals, and supporting community services in the bank’s assessment area.
- Staff was involved with numerous different service organizations in various community service capacities acting as board members, presidents, treasurers and committee members. Employees and officers participated in areas that were directly related to banking and financial services, including foreclosure prevention and providing financial expertise.
Download the offical report from the Federal Reserve website ›