Community Reinvestment

Demonstrating our commitment to investing in the communities we serve, Lake-Osceola State Bank has achieved the highest possible Community Reinvestment Act (CRA) Rating. The CRA process requires banks to be assessed based on their "record of meeting credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with safe and sound operation." Banks are rated from one to four (with one being the best) and Lake-Osceola State bank has been ranked a "1-Outstanding" rating on four different occasions since 1995.

LOSB's "1-Outstanding" rating was received mainly because of our conscious efforts to lend money within the local area, our distribution of loans to different income levels and business sizes, and our leadership in providing community development investments and services.

Based on the Public Disclosure from 2009 CRA Exam, we lent 78% of our total loan dollars within specified areas of Lake County, and portions of Manistee, Mason, Mecosta, Newaygo, and Oceana Counties. Additionally, 47% of our Residential Real Estate Loans went to low-to-moderate income borrowers and 81% of our Small Business Loans went to businesses with $250,000 or less in annual sales. These distributions were a strong determining factor in our "1-Outstanding" rating.

Much of LOSB's ability to lend to these groups is the result of our "innovative and/or flexible lending products."

"The level of innovative and/or flexible lending programs the bank affords customers in its assessment area is outstanding, considering the size and resources of the institution."
~CRA Public Disclosure dated May 18, 2009.

LOSB invested over 9,000 hours company-wide to community service from 2006-2009. Our institution invested in local municipality tax anticipation bonds and local school district energy efficiency bonds (among others). Qualified donations averaged $25,587 over this same time period. These activities helped to give LOSB a "1-Outstanding" rating.

One community contact in the CRA Public Disclosure was quoted as saying "the bank is considered a leader in providing community development investments and donations."

For more information download or review any of the LOSB CRA Exam Public Disclosures below.