Wainwright Bank Receives "Outstanding" CRA Rating

Boston, MA, December 9, 2002 - Wainwright Bank & Trust Company, a socially responsible commercial bank headquartered in Boston, has received an "Outstanding" Community Reinvestment Act (CRA) rating, the highest awarded by the Federal Deposit Insurance Corporation (FDIC). The period evaluated was for two years ending June 10, 2002; this is the second consecutive "Outstanding" CRA rating received by Wainwright Bank.

Nationwide, only 10 percent of financial institutions have achieved the highest CRA rating which recognizes a bank's effectiveness in meeting the financial needs of low-to-moderate income people and neighborhoods within its market area. The rating is based on lending practices, service and investments in community development.

"We are proud to receive an "Outstanding" CRA rating for the second time in a row. Wainwright Bank is committed to supporting socially responsible community development and meeting the financial needs of all people living within the neighborhoods we serve. The fact that we've made over a quarter of a billion dollars in community development loans over the last decade, funded almost entirely by our customers' deposits, is proof of our commitment," said Jan Miller, President and CEO of Wainwright Bank.

In addition to its support of community development within low-to-moderate income neighborhoods, Wainwright Bank was cited for its innovative financial literacy initiatives. For the last 5 years Wainwright has provided "Financial Empowerment" presentations to predominately minority inner-city teenagers and adults through the efforts of its Community Development Officer, Anthony Robinson, Sr.

Mr. Robinson, who grew up and is in turn raising a family in an inner-city Boston neighborhood, is also an ordained minister and former sergeant in the U.S. Army. "I can talk to my neighbors in a way they can relate to -- many have never been in a bank before. I show them the power of saving and compound interest, how to choose a bank and their rights as consumers," said Mr. Robinson.

The Community Reinvestment Act was passed by Congress in 1977. Both the FDIC and the Massachusetts State Banking Commission monitor whether or not state chartered financial institutions within the Commonwealth are fulfilling their credit and service obligations to lower income people and neighborhoods.

Founded in 1987, Wainwright Bank is a socially responsible commercial bank with assets of $500 million primarily serving neighborhoods in Boston, Cambridge, Watertown and Somerville. Nearly 40% of the bank's commercial lending portfolio is dedicated to community development initiatives including affordable housing, homeless shelters, HIV/AIDS services, community health centers, and environmental issues to name a few. Wainwright's commitment to social justice issues has been widely recognized and in 2001 the bank received the international Annual Corporate Conscience Award from the Center for Responsibility in Business in New York.

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