First Posted: 8/15/2009
LUMBERTON Lumbee Guaranty Bank has received a five-star rating from BauerFinancial Inc.
We would like to take this opportunity to congratulate our employees and directors for their hard work and dedication in helping Lumbee Guaranty Bank achieve this honor, said Larry R. Chavis, president and CEO.
BauerFinancial Inc. has been analyzing and reporting on the financial condition of the nations banking industry since 1983. Through the years BauerFinancial has earned the reputation of the nations bank rating service.
Under BauerFinancials rating system, five stars represent superior bank performance and is the firms highest rating. The rating is based upon an analysis of current financial reports that are filed with federal regulators four times a year.
The quarterly data is subjected to thorough analysis and compared with historical data from Lumbee Guaranty Bank. Upon completion of the analysis, a star rating is assigned based on a scale of zero to five stars, with five stars being the strongest.
As you know this has been a time of economic uncertainty, this five-star rating reflects our commitment to our customers, employees and stockholders, Chavis said. Our customers and stock holders can be assured by obtaining this rating Lumbee Guaranty Bank is ranked as one of the strongest and safest banks the country.