The Star Beacon; Ashtabula, Ohio

Local News

June 18, 2013

Local financial institutions get top marks from service

Area financial institutions earned stellar reviews in the latest report from an independent bank research firm.

BauerFinancial Inc. gave five- and four-star ratings to the vast majority of banks and credit unions that do business in the Ashtabula County area, according to a report recently released. The ratings, current as of Monday, are based on March 31 financial data, according to the company’s website.

Here are the results for many local institutions (five- and four-star winners are recommended by BauerFinancial):

•Five Star winners (superior)— Andover Bank; Cortland Savings and Banking Co.; Huntington National Bank; KeyBank; Community First Credit Union: Lakeview Federal Credit Union; Northwest Savings Bank

• Four-Star winners (excellent) — Conneaut Savings Bank; Middlefield Banking Co.; Port Conneaut Federal Credit Union; US Bank; Sherchem Federal Credit Union; FirstMerit Bank

• Three-and-a-half Star winner (good) — JP Morgan Chase Bank

• Three-Star winner (adequate) — Park View Federal Savings Bank

• Two-Star winner (problematic) — Geauga Savings Bank

Cardinal Community Credit Union was not rated by BauerFinancial. The company said companies are not rated if they have less than $1.5 million in assets or are not insured by the National Credit Union Administration.

In its website, BauerFinancial said it begins analysis with raw numbers all financial institutions are obliged to provide the government each quarter. In addition to the capital ratio, other criteria used to determine star ratings include profitability/loss trend, evaluating the level of delinquent loans, charge-offs and repossessed assets, market versus book value of the investment portfolio, regulatory supervisory agreements, community reinvestment rating (CRA), historical data and liquidity, according to the BauerFinancial website.

1
Text Only
Local News
Ashtabula County Alive
July 4 Celebrations 2014
Summer off to Big Start
Ashtabula County Flag Day 2014
Northeast Ohio Soap Box Derby 2014
Tour de State Line and Boating Season
Ashtabula County Memorial Day 2014
Sam Magill Sr. Memorial
Armed Forces Echo Taps 2014
Lakeside Loop Color Run
Keeping Ashtabula County Clean and Healthy
Canoe Race and Ashtabula Easter Events
The Taping of the Teacher: A sticky Sitation
18th Annual Polar Bear Plunge at Geneva State Park
House Ads
AP Video
NDN Video
Weird 'Wakudoki' Dance Launches Promotional Competition Sadie Doesn't Want Her Brother to Grow Up Chapter Two: Designing for Naomi Watts Broken Water Main Floods UCLA "Maxim" Hotness! See Jessica Alba's Sizzling Spread Two women barely avoid being hit by train Orlando Bloom and Justin Bieber Reportedly Came To Blows In Ibiza Meet the Man Behind Dumb Starbucks Chris Pratt Adorably Surprises Kids at a 'Guardians of the Galaxy' Screening NOW TRENDING: Peyton Manning dancing at practice "The Bachelorette" Makes Her Decision Thieves pick the wrong gas station to rob Golden Sisters on '50 Shades' trailer: 'Look At That Chest!' Staten Island Man's Emotional Dunk Over NYPD Car - @TheBuzzeronFOX GMA: Dog passes out from excitment to see owner Baseball Hall of Famers Inducted 'Hunger Games: Mockingjay Part 1' Sneak Peek Florida Keys Webcam Captures Turtles Hatching Morgan Freeman Sucks Down Helium on 'Tonight Show' Robin Wright Can Dance! (WATCH)