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New Haven Bank has received the highest rating of “outstanding” on its latest Community Reinvestment Act Performance Evaluation, the bank said in a statement. This is New Haven Bank’s first overall outstanding rating in the 10 years since the bank was founded.

Banks undergo CRA evaluations every three years by federal bank regulators to assess whether they have met the credit needs of its assessment area, including low- and moderate-income communities. New Haven Bank is supervised by the Federal Reserve Bank of Boston. Connecticut is one of the few states that also issues CRA ratings, and the bank said it was rated outstanding by both agencies.

New Haven Bank is the only Connecticut bank certified as a federally insured Community Development Financial Institution (CDFI).

“New Haven Bank takes its responsibility as a financial institution dedicated to promoting economic development for underserved people and communities very seriously,” the bank said in the statement.

New Haven Bank, originally called Start Community Bank, was formed in 2010 and is one of 165 federally insured financial institutions in the U.S. recognized as a CDFI. It has about $156 million in total assets.

“This is who we are and what we do. As a CDFI the bank conducts more than 60 percent of its business in low to moderate income areas,” Maureen Frank, New Haven Bank’s president and CEO, said in the statement. “We’re New Haven’s only local bank and we strive to fill that niche. We recognize that it’s important to grow with businesses who share the bank’s vision and commitment to this vibrant community. This is what drives our every action, every day.”