Quantum National Bank receives “outstanding” rating on Community Reinvestment Act evaluation

Quantum National Bank received a coveted “Outstanding” CRA (Community Reinvestment Act) rating in a recent performance evaluation conducted by the OCC (Office of Comptroller of the Currency). The OCC examined the bank’s responsiveness in meeting the community development and credit needs of its community.

As primarily a commercial lender, the examination focused on Quantum National Bank’s small business lending products and services. Evaluating the community bank’s performance from January 1, 2019 – December 31, 2021, the major factors that support this rating included the following:

  • The bank’s amount of lending is considered more than reasonable.
  • Most of its loans are originated within its community.
  • The distribution of commercial loans to businesses of different sizes is excellent in relation to other banks in its area.
  • The distribution of small business loans among geographies of different income levels in relation to its community’s demographic is excellent.
  • The bank’s community development activities are excellent in being responsive to the needs of its community through its loans, donations, investments and services.

“This evaluation is especially important to us because it’s a direct reflection of the work we do each day to positively impact our community,” said Bryan Cohen, CEO of Quantum National Bank. “It’s truly a result of our employees, leadership team and board of directors who constantly prioritize the needs of our community in each decision we make so that the people in our community benefit from the continued growth and development in our area,” he said.

During the 2-year examination period:

  • 73 percent of the bank’s business lending was to businesses with gross annual revenues of less than $1 million.
  • The bank provided $142 million of funding to small businesses through SBA’s Paycheck Protection Program – impacting 20,328 jobs in the state.
  • The bank donated to organizations that benefit and promote affordable housing, education and general assistance for low- and moderate-income families including Gwinnett Habitat for Humanity, HomeAid Atlanta, Rainbow Village, No Limits Community Development Corporation and the Atlanta Children’s Foundation.

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