First MainStreet receives award
The Daily Times-Call
First MainStreet Bank has been awarded an “Outstanding” Community Reinvestment Act rating from federal regulators.
The northern Colorado Office of the Comptroller of the Currency, based in Denver, awarded First MainStreet with the rating following a recent examination of the bank’s lending practices. The CRA was designed to recognize the efforts that depository institutions make to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. Outstanding is the top rating.
Among the contributions for which First MainStreet was cited were its financing of the $3.5 million Aspen Meadows project, a senior housing development in Longmont, and its adoption of an affordable housing program, which allows low-income families to qualify for home loans they might not have been eligible for elsewhere.
“I’ve been in banking for more than 20 years and have seen very few ‘outstanding’ ratings,” David Finnegan, risk manager for First MainStreet, said in a statement. “Only 12 percent of the financial institutions in this country receive it.”
First MainStreet Bank has locations in Lafayette, Loveland and Fort Collins, as well as three in Longmont.