Under pressure from community activists, federal regulators have downgraded Mercantile Bank's Community Reinvestment Act rating.

The St. Louis-based bank said late last week that it had received a "satisfactory" CRA rating for May 1995 through June 1997 from the Office of the Comptroller of the Currency. The Comptroller's Office had awarded the bank "outstanding" ratings in its two previous CRA exams.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.