United Bank announces it has maintained its 5-Star Superior rating for strength and security from BauerFinancial, the nation’s leading independent bank rating firm. The 5-Star award recognizes United Bank’s financial strength and performance and is based on profitability, capital, level of delinquent loans, charge-offs, repossessed assets and liquidity. The rankings announced last week are based on the bank’s September 30 financial results.
BauerFinancial recommends that all financial institutions earn a 4- or 5-star rating. What this rating means for United Bank is that the institution is safe, financially sound and operating well above its regulatory capital requirements. Ratings are based on a scale of zero to five with a 5 star being the strongest.
“It’s an honor to be recognized by BauerFinancial for our continued financial strength.” said Bob Jones, President and CEO of United Bank. “United Bank is committed to providing superior service and being a reliable financial resource in the communities we serve.”
Since 1983, BauerFinancial has earned the respect of federal and state regulators as a means of reporting the financial condition of banks. BauerFinancial uses the same analysis to rate all institutions and makes those ratings available for free on its web site.