Bank Regulator Tells Eagle Bank & Trust to Improve Service to Community

St. Louis Equal Housing and Community Reinvestment Alliance, August 2, 2013

Eagle Bank and Trust Company of Missouri has received a “Needs to Improve” rating on its Community Reinvestment Act (CRA) exam dated May 21, 2012.  The Federal Deposit Insurance Corporation (FDIC) released the CRA evaluations for banks that were recently evaluated on how services are meeting the credit needs of the community.

The St. Louis Equal Housing and Community Reinvestment Alliance (SLEHCRA)
provided a public comment letter in March 2012 to the FDIC for consideration in Eagle
Bank and Trust’s CRA exam.  The comment letter detailed concerns with the bank’s
service to low- and moderate-income communities and minority communities.

SLEHCRA was concerned that the bank’s assessment area excluded portions of north
St. Louis City and north St. Louis County. Both of these areas have substantial
minority populations and low- and moderate-income communities.  SLEHCRA was
also concerned with low levels of lending to minority borrowers and communities and
urged the FDIC to conduct a thorough fair lending investigation.

According to Eagle Bank and Trust’s CRA examination, the FDIC found substantive
fair lending violations of the Equal Credit Opportunity Act and the Fair Housing Act.
The FDIC also found violations in how the bank designated its assessment area that
excluded low- and moderate-income census tracts. The FDIC revised the bank’s
assessment area to include all of St. Louis County, St. Louis City and Jefferson County.  SLEHCRA’s concerns are also detailed in the bank’s CRA examination.

This is the first time that the FDIC has given a “Needs to Improve” rating to a bank in
the St. Louis metro area since 1995.  SLEHCRA applauds the FDIC for taking steps to
better enforce the CRA.  In giving banks lowered ratings for poor performance, the
FDIC is ensuring that banks are held accountable for services provided to the
community, particularly communities that have been underserved by mainstream
financial institutions.  SLEHCRA hopes that the FDIC continues to conduct rigorous
CRA and fair lending exams and continues to take action on serious community
concerns related to bank performance.

Eagle Bank and Trust Company of Missouri is headquartered in Hillsboro, Missouri,
and operates 14 branches. The bank reports $893 million in assets. The FDIC’s Kansas
City regional office conducted the bank’s CRA examination, which is available online

SLEHCRA is a coalition working to increase investment in low- and moderate- income
communities, regardless of race, and in minority communities, regardless of income, by
ensuring that banks are meeting their obligations under the CRA and fair lending laws.
SLEHCRA regularly reviews bank performance and provides public comment letters
on CRA and fair lending performance.  All bank analyses and public comments are
posted online at

SLEHCRA also partners with banks to assist in developing strategies to better serve all parts of the community. SLEHCRA member organizations stand ready and willing to partner with Eagle Bank and Trust to help identify ways of improving performance to low- and moderate-income communities and communities of color.

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