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Print this pageSonoran Bank earns national ‘Outstanding’ ranking
For its Community Reinvestment Act lending practices by the Office of the Comptroller of the Currency
Sonoran Bank last month earned the ranking of Outstanding for its Community Reinvestment Act lending practices by the Office of the Comptroller of the Currency. (Latino Perspective’s publisher serves as chairman of the board).
The ranking is significant in the industry. The OCC has examined 700 banks nationwide over the past two years and has awarded just 17 percent a rating of Outstanding.
“We were excited and thrilled at Sonoran Bank to earn the top honors and become one of only 120 banks across the nation to earn the ranking of Outstanding,” said Jim Vigars, President and CEO of Sonoran Bank, 3877 N. 7th Street, Phoenix. “This recognition serves as a testament to our continued investment in the Phoenix community and our commitment to becoming the go-to bank for minority businesses across the Valley.”
The report commended Sonoran Bank’s commitment to providing the majority of its loans inside Maricopa County, the distribution of business loans among companies of different sizes given the make-up of the county and additional criteria that applauded Sonoran for its banking practices.
