Chelsea Groton Bank Again Awarded 5-Star Rating by BAUERFINANCIAL, Inc.
by BAUERFINANCIAL, Inc.
Groton, CT – Chelsea Groton Bank is pleased to announce it was again awarded a 5-star rating for superior financial strength by BauerFinancial, Inc. This rating indicates, among other things, that this institution excels in areas of capital, loan quality and profitability. BauerFinancial has recommended Chelsea Groton Bank for the most recent 85 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.
“Chelsea Groton Bank’s achievement is a result of its commitment to community banking and values,” said Karen L. Dorway, president of BauerFinancial. “By focusing on the financial needs of local families and businesses, Chelsea Groton Bank has in turn, charted its own path. It is a symbiotic relationship: the more success customers have, the more success the Bank will have. It is built on a commitment to each other and is what all banks should strive for.”
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.
Based in Groton, Conn., Chelsea Groton Bank is a mutually owned bank with 14 locations throughout New London County and soon, a Loan Production Office in Hartford County. The Bank has nearly $973 million in assets and serves businesses, individuals and families throughout Connecticut and Rhode Island. To learn more, please visit chelseagroton.com. 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.
Chelsea Groton Bank Again Awarded 5-Star Rating
* * *About Chelsea Groton Bank