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OBA Federal Savings and Loan Association
OBA, established in 1861, is a federally chartered mutual institution that operates a new main office in Germantown, Montgomery County, Maryland. In addition, OBA has one branch office in the northwest quadrant of the District and one each in Bethesda & Gaithersburg, Maryland. OBA offers fixed and adjustable-rate mortgage loans for the purchase and refinance of single family residences. Since the preceeding CRA examination, OBA reduced minimum down payment requirements from 10 percent to 3 percent. For qualifying homebuyers, OBA also introduced Affordable Mortgages for home purchases / loans with: a Maximum Sales Price of $195,000, a Maximum Loan Amount of $189,000, buyers with a Maximum Combined Income of $85,000, and home purchases with a 3% - 19% Down Payment. In the past year, OBA has entered into small business and commercial lending and has become an SBA lender.
| President |
Warren N. Low
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| Total Assets |
$35.1 Million in the District of Columbia (as of December 31, 2001)
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| Total Deposits |
$16.7 Million in the District of Columbia (as of December 31, 2001)
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| Branches |
One
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| ATMs |
Three
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| CRA Rating |
Satisfactory (as of November 30, 1998)
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| CRA Statement |
OBA Bank offers low cost checking accounts, no cost senior accounts, savings accounts and a no cost youth savings program for in school banking. OBA is working to provide housing opportunities through HOC, Housing Charities and Habitat for Humanity.
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Primary Focus
of CRA Activity |
OBA has concentrated its operation on the origination of affordable residential mortgage loans for single-family homes, condos and townhouses. OBA is one of only 5 banks to offer mortgage loans through the Montgomery County Housing Opportunities Commission (HOC).
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