Dallas, Texas-Based Vista Bank Receives Coveted "Outstanding" Community Reinvestment Act (CRA) Rating from Federal Reserve Bank

News provided by

Aug 12, 2024, 08:00 ET

DALLAS, Aug. 12, 2024 /PRNewswire/ -- 112-year-old Texas-based Vista Bank received the Federal Reserve Bank's highest rating of "Outstanding" during its recent Community Reinvestment Act examination. Only 13% of banks in the United States get the highest rating from the Federal Reserve in a year.

During a fiscal year that saw considerable challenges for the entire banking sector, the "Outstanding" rating acknowledged the Bank's deliberate emphasis and commitment to community development for the period concluding on December 31, 2023.

Best known as the Entrepreneurs' Bank, Vista Bank serves markets across North, Central, West Texas, and Florida through its 18 Banking Centers and emerging digital presence.

Vista recently made a big investment in South Dallas' Fair Park area, launching the first banking and financial literacy ecosystem in the area in over 30 years. Collaborating with the Dallas Black Chamber of Commerce and the South Dallas Fair Park Innovation Center, the ecosystem is transcending beyond financial education, forging a genuine path to 'yes' for small business owners ready to do the work - teaching them how to fish, while simultaneously cultivating a quality pond.

"I couldn't be any prouder of our entire team, valued community partners and stakeholders for investing in and implementing a strategy that refuses to check boxes and instead seeks real solutions to elevating low- and moderate-income communities through the power of financial literacy and entrepreneurship," said Vista Bank President & CEO and 2024 EY Entrepreneur Of The Year® Southwest Award winner, John D. Steinmetz. Though well-intentioned, what we've done in this country historically is not working. And as most, if not all within our industry know, if we don't change our approach to the Community Reinvestment Act, we will never change the outcome and more importantly the communities we serve. On behalf of Vista Bank, I'm incredibly thankful for the Federal Reserve Bank's leadership for recognizing Vista Bank for the progress we are making to achieve our goal of creating a 'quality pond' for all to fish from."

Community Development Performance Highlights:

Vista Bank's lending in low- and moderate-income communities totaled more than $96.8 million during the recent examination period, up 1100% over the prior period.
Vista Bank team members joined community partners and volunteered a total of 1,482 hours, up 406% from the prior exam on multiple projects, with a focus on teaching financial literacy.
Vista Bank donated $235,507 to charitable causes in its neediest communities.
Vista Bank invested over $30 million supporting strategic community development efforts.

About Vista Bank

Best known as the Entrepreneurs' Bank, Vista Bank serves markets across North, Central, West Texas, and Florida through its 18 Banking Centers and emerging digital presence. With a private client offering, 229 team members, over $2 billion in assets, and a rich 112-year history of Entrepreneurs Banking Entrepreneurs, Vista offers innovative solutions to personal and commercial clients alike while never sacrificing its top priority – putting People First. Learn more about Vista Bank, consistently recognized regionally and nationally as a top-rated financial institution, leading commercial bank, best workplace, best leadership team, and best in customer service.

SOURCE Vista Bank