CINCINNATI, Oh. — Cincinnati-based First Financial Bank, which has banking locations throughout Ohio, Kentucky and Indiana, has earned the highest overall rating of “outstanding” from the Federal Reserve Board for its performance under the Community Reinvestment Act to meet the credit needs of the people and businesses in its communities. The top rating comes after a broad evaluation of First Financial’s lending, investment and service levels from 2017-2020, specifically benefitting customers that meet income guidelines or reside in low- and moderate-income (LMI) census tracts.
The “outstanding” rating is achieved by only a small number of banks. The Federal Reserve’s evaluation cited multiple factors supporting the top rating for First Financial, including:
- The bank’s excellent record of serving the credit needs of low-income individuals and areas and very small businesses.
- Acting often in a leadership position in providing an excellent level of qualified community development investments and donations.
- Retail delivery systems that are accessible to geographies and individuals of different income levels and businesses of different revenue sizes.
First Financial is well ahead of schedule in reaching and surpassing the $1.7 billion goals in its Community Benefits Agreement (CBA) for 2018-2022, having already achieved a loan, investment and marketing total of $1.85 billion, including $11.9 million in donations.
The CBA focuses on increasing access to banking services in the region, driving product innovation and inclusion efforts, increasing lending with low- and moderate-income borrowers and communities and increasing community engagement and investment.