Chelsea Groton Bank Earns BauerFinancial’s Elite 5-Star Rating
Chelsea Groton Bank is pleased to announce it was again awarded a 5-Star Superior rating for financial strength by BauerFinancial, Inc. This rating indicates, among other things, that the financial institution excels in areas of capital, loan quality, and profitability. BauerFinancial has recommended Chelsea Groton Bank for the most recent 87 quarters, earning the Bank an even more elite status of Sustained Superiority, a distinction that fewer than 10% of the nation’s banks can claim.
“Earning the Sustained Superiority designation proves that Chelsea Groton Bank has been getting it right for a long time,” expressed Karen L. Dorway, president of BauerFinancial, the nation’s bank rating firm. “BauerFinancial has been touting the benefits and mainstays of community banks since its inception in 1983. I am thrilled to say that the January 2016 issue of Consumer Reports agrees. According to its own surveys, Consumer Reports concluded that smaller banks are best for personal service as they ‘tend to focus more on relationships’.”
BauerFinancial star ratings classify each financial institution based upon a complex formula factoring in current and historical data. The first level of evaluation is the capital level of the institution followed by other relevant data including, but not limited, to: profitability, historical trends, loan delinquencies, repossessed assets, reserves, regulatory compliance, proposed regulations and asset quality.
About Chelsea Groton Bank
Based in Groton, Conn., Chelsea Groton Bank is a mutually owned bank with 14 locations throughout New London County and a Loan Production Office in Hartford County. The Bank has over $989 million in assets and serves businesses, individuals and families throughout Connecticut and Rhode Island. Member FDIC. Equal Housing Lender.
About BAUERFINANCIAL, Inc.
Based in Coral Gables, Florida, BAUERFINANCIAL is the nation’s leading independent bank and credit union rating and research firm. It has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983. No institution can pay for or opt out of a BauerFinancial rating.