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
Canoe Race and Ashtabula Easter Events
Good Friday Cross Walks and Easter Egg Hunts
Spring Comes Alive
Ashtabula Spring Cleaning
The Taping of the Teacher: A sticky Sitation
Saturday Fun in Ashtabula County March 22, 2014
American Red Cross Ashtabula County Heroes Breakfast
Rotary Club Dodge Ball Tournament
18th Annual Polar Bear Plunge at Geneva State Park
End of year weather extremes
Christmas 2013
Harpersfield Barn Fire
Route 11 Rescue Plymouth Township
Ashtabula Fire
House Ads
AP Video
NDN Video
Jabari Parker's Top 5 Plays From Duke Career Kourtney Kardashian Is a Bikini Babe More Manpower Than Ever Expected At 4/20 Rally Debunk'd: Miley Cyrus AIDS, Cheeseburgers Cause Cancer, Military Warning Bill Previewing the NBA playoffs Raw: Orthodox Christians Observe Easter Rite My name is Cocaine Raw: Space X Launches to Space Station Lohan Gets Candid About Her Sex List The 2014 New York Auto Show Meet Johnny Manziel's New Girlfriend Chelsea Clinton Announces Pregnancy Funny: Celebrating Easter with Martha Stewart and Friends Man Accuses 'X-Men' Director Bryan Singer of Sexually Abusing Him As a Teenager Man hit with $525 federal fine after he doesn't pay for soda refill Lea Michele & Naya Rivera Feuding? Jabari Parker declares for the NBA draft Singing Nun Belts Out Cyndi Lauper New West, Texas Explosion Video Swim Daily, Throwback Thursday