noted, "We are honored to be recognized again this year as a Super Premier Performing Bank by The Findley Reports. The past few years have been extremely difficult for many banks across the country and we are pleased to receive this advanced rating recognizing the exceptional performance our bank."
In addition, the bank received the highest Five Star "Superior" rating for the 28th consecutive quarter from BauerFinancial, Inc.
, which indicates that the bank is one of the safest in the United States. County Commerce is the only bank headquartered in Ventura County to receive this award for 28 consecutive quarters and the only bank in the tri-counties to earn five stars for the fourth quarter of 2011. BauerFinancial providesindependent bank and credit union ratings; institutions do not pay for nor can they choose to be excluded.
Star-ratings are assigned based on a scale of zero to five stars with five stars being the strongest.
explained, "We are pleased to be recognized once again by BauerFinancial
for our consistent, strong performance. The hard work and dedication of our Board of Directors and staff have resulted in our ability to remain financially sound and to be able to provide the wide range of quality deposit, cash management and credit services our customers deserve.
The bank's excellent liquidity and strong capital position allow us to continue lending to local businesses and individuals, which strengthens the economy of our local community."
Financial Management Consulting Group
, a financial industry rating company that publishes bank performance reports, rated County Commerce Bank as the top rated bank in the tri-counties and 20th best performing bank in all of California. The report's rankings for 230 banks headquartered in the state are based on earnings, asset quality, efficiency, margin management, and fee analysis.
According to Joseph D. Kreutz, County Commerce Bank's President and Chief Executive Officer, "Our 2011 financial results reflect the bank's solid, steady, prudent growth, even during difficult economic times. We feel that it is our obligation to our shareholders and customers to manage the bank so it can thrive in any environment even when the competition may be unable to do so."
added, "We value these rankings and awards from financial industry experts, but our entire team believes the ongoing support of our customers remains our most important performance measurement. We are well-positioned for the future, with a customer base of strong relationships, a high quality loan portfolio, excellent products and services, loyal shareholders, and a dedicated and experienced staff."