53 E State St Albion, PA 16401 Phone: (814) 756-4138
19 Public Square PO Box 1300 Andover, OH 44003 Phone: (440) 293-7605
1630 West 19th Street Ashtabula, OH 44004 Phone: (440) 964-8999
1853 Route 45 PO Box 273 Austinburg, OH 44010 Phone: (440) 275-3333
339 State Street Conneaut, OH 44030 Phone: (440) 593-6595
600 East Main Street PO Box 1300 Andover, OH 44003 Phone: (440) 293-7256
212 Plum St Edinboro, PA 16412 Phone: (814) 734-1655
665 South Broadway Geneva, OH 44041 Phone: (440) 466-3040
150 North Chestnut Street Jefferson, OH 44047 Phone: (440) 576-2265
6611 North Ridge Road Madison, OH 44057 Phone: (440) 417-0200
2420 Zimmerly Rd Erie, PA 16506 Phone: (814) 833-4550
3924 Clock Pointe Trail, Ste. 101 Stow, OH 44224 Phone: (844) 259-5473
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Friday, March 27, 2026/Categories: Bank News, Community News
Andover, Ohio - Andover Bank is proud to announce it has received an “Outstanding” rating on its most recent Community Reinvestment Act (CRA) performance evaluation, the highest rating a financial institution can achieve.
This recognition reflects the bank’s ongoing commitment to meeting the credit needs of the communities it serves, including low- and moderate-income individuals, families, and neighborhoods.
What is the Community Reinvestment Act (CRA)? The Community Reinvestment Act is a federal law enacted in 1977 to encourage banks to actively support the communities where they operate. CRA evaluations are conducted by federal regulatory agencies and assess how well financial institutions provide access to loans, investments, and services that help communities grow and thrive.
Banks are evaluated in several key areas, including:
Institutions receive one of four ratings:
A Meaningful Milestone for Andover Bank Achieving an “Outstanding” rating signifies that Andover Bank is exceeding expectations in its efforts to serve the entire community.
“This recognition is a reflection of our team’s dedication to doing what’s right for the communities we call home,” said Steve Varckette, President and CEO of Andover Bank. “We believe community banking is about more than transactions. It’s about relationships, access, and helping people and businesses move forward with confidence.”
From supporting small businesses and homeownership opportunities to investing in local initiatives and providing accessible financial services, Andover Bank remains focused on making a meaningful, lasting impact.
Looking Ahead While the “Outstanding” rating is an important milestone, Andover Bank views it as part of a larger, ongoing commitment.
“We’re proud of this achievement, but more importantly, we’re focused on continuing the work,” added Varckette. “Our goal is to continue to support our communities in ways that matter—every day.”