While living out our Stewardship value often looks like volunteer work, fundraising, and starting community-focused initiatives, another way we’re able to give back is through our business relationships.

For our volunteerism, investments, donations, and record in lending from 2022 through 2024, we received our fourth consecutive “Outstanding” rating on a Community Reinvestment Act (CRA) examination by the Office of the Comptroller of Currency (OCC).

During that period, 49 of our teammates volunteered 3,250 hours to approximately 24 qualifying organizations serving the Sioux Falls assessment area.

We originated 70 Community Development (CD) loans totaling $142.99 million, in addition to 186 investments totaling $2.23 million, which reflects donations to 39 organizations.

What is a CRA rating?

1977 was a time of social unrest, and banks were getting skittish on who they would loan money to.

There were banks in cities like Los Angeles drawing red lines around certain disadvantaged neighborhoods, saying carte blanche, “We’re not going to lend there. It’s too risky.”

However, the CRA was passed that year, requiring banking regulators to encourage financial institutions to meet the credit needs of low- and moderate-income individuals and areas.

Financial institutions receive a rating based on their investments, service, and loans to these individuals and areas, determined by an examination covering a three-year period.

Put simply, we had to meet three criteria to receive an Outstanding rating:

• A commitment to lending and investing in the community
• Actively engaged teammates working with local, qualified organizations
• Recordkeeping to show that we’re as good as we say we are

FNB receives fourth consecutive ‘Outstanding’ CRA rating

First National Bank operates via the public trust, and our charter is about building the community. So, the impetus on serving our underbanked neighbors fits hand-in-glove with our work.

We’re proud to have been recognized by our regulators in 2013–2015, 2016–2018, 2019–2021, and 2022–2024 for our community investments helping low-to-moderate income individuals and area families.

Even though we receive awards like this as a badge of honor, you probably haven’t heard many of these stories because we’re not always great about publicizing them.

In truth, we don’t do any of this to get placed on the front page of the paper.

Generosity is not a PR strategy — it’s part of our vision and embedded into our culture.

“Since 2013, First National Bank has gone over and above CRA requirements, further deepening our commitment to the communities we serve,” said President & CEO Chris Ekstrum. “Our FIRST Values set high expectations to be a good corporate citizen, and this CRA rating is one of many outcomes of living our values and doing the right thing.”

You can review our full CRA Performance Evaluation for the 2022–2024 period here.