2021 CSBS Community Bank Case Study Competition Journal

FIRST PLACE: The University of Tennessee at Martin

Part III: Diversity, Inclusion, and Economic Fairness In addition to the pandemic, the U. S. experienced a substantial disturbance in 2020 with several highly publicized deaths of African Americans. These incidents invited attention and discussion about social justice, diversity, and inclusion. Many people across the country expressed their outrage by protesting for changes to be made regarding systemic racism. Many businesses, including banks and financial institutions, reevaluated their cultures and practices. According to the U. S. House Committee on Financial Services, many banks maintain that diverse and inclusive organizations are usually more profitable and productive (3). In the following section, TriStar officials explained how the Bank has addressed diversity, inclusion, and economic fairness among its staff and customers. TriStar’s Leadership in Its Communities TriStar has been a clear leader in the communities that it serves regarding the Community Reinvestment Act (CRA). The Bank has consistently maintained a “Satisfactory” CRA rating since its first publicly recorded CRA exam in 2002. In 2021, TriStar’s recorded CRA rating rose to the highest rating of “Outstanding” (Federal Financial Institutions Examination Council). This “Outstanding” rating reflects TriStar’s focus on continually improving its community outreach in 2019, and these efforts were acknowledged during its most recent CRA exam in September 2020 (A. Petty, Zoom, April 7, 2021).

TriStar worked effectively through its outreach program to meet the needs of minorities as well as unbanked individuals in its communities. The Bank’s participation in the PPP enabled it to assist many small businesses, and consequently saved many jobs in its communities during the COVID-19 pandemic. TriStar also participated in the U. S. Department of Agriculture Rural Development, Tennessee Housing Development Agency, and Federal Housing Administration loan programs to support low- income and moderate-income first-time home buyers (T. Williams, Zoom, February 24, 2021). Although it is a small bank, TriStar’s efforts have proven it to be a leader in its communities by promoting economic development as well as supporting diversity and inclusion. Diversity and Inclusion Addressed at TriStar All TriStar employees forgo a holiday, such as President’s Day, to attend bank-wide training during the first quarter of the year. This training

The Bank’s participation in the PPP enabled it to assist many small businesses, and consequently saved many jobs in its communities during the COVID-19 pandemic.

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