Business

March 5, 2013

Bank of Kansas passes lending exam

Bank of Kansas was one of three Kansas-based banks to receive a satisfactory rating on its federal Community Reinvestment Act examination, the Federal Deposit Insurance Corp. said in a news release Tuesday.

Bank of Kansas was one of three Kansas-based banks to receive a satisfactory rating on its federal Community Reinvestment Act examination, the Federal Deposit Insurance Corp. said in a news release Tuesday.

The South Hutchinson-based bank operates two branches in Wichita and is owned by Stillwater, Okla.-based Southwest Bancorp.

The two other Kansas banks to receive satisfactory ratings were Solomon State Bank in Solomon and Stanley Bank in Overland Park.

The CRA is a 1977 law that encourages banks and thrifts to provide loans to their local communities, including to low- and moderate-income neighborhoods.

Banks can receive one of four grades from the FDIC: outstanding, satisfactory, needs to improve and substantial noncompliance.

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