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FFIEC Publishes Median Family Income Data


Sept 26 - The Office of the Comptroller of the Currency has distributed to its member banks the recently published Federal Financial Institutions Examination Council-calculated Median Family Income data. The 2012 MFI data incorporate information from the U.S. Census Bureau’s American Community Survey.

The FFIEC estimates median family incomes for metropolitan statistical areas, metropolitan divisions, and nonmetropolitan portions of each state. These data are used to determine income levels of geographies in Community Reinvestment Act performance evaluations. The annual FFIEC data are used to determine 2012 borrower income levels in CRA performance evaluations.

The regulations implementing the CRA — 12 CFR 25 and 12 CFR 195 — classify the income level of a person or geography as low, moderate, middle, or upper, based on the area median income. Area median income is defined as “the median family income for the MSA, if a person or geography is located in an MSA, or for the metropolitan division, if a person or geography is located in an MSA that has been subdivided into metropolitan divisions”; or “the statewide nonmetropolitan median family income, if a person or geography is located outside an MSA.”

The OCC asks anyone with questions regarding this information to contact their supervisory office or to the Office of the Comptroller of the Currency’s Compliance Policy Department at 202-874-4428.

Click here for the data.