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Latest ratings by financial firm show state financial institutions stabilizing

Post by C.R. Roberts / The News Tribune on June 18, 2013 at 8:59 am with No Comments »
June 17, 2013 6:04 pm

The financial analysis firm BauerFinancial has issued its quarterly “star rating” list of banks and credit unions statewide and nationwide.

The ratings consider criteria including assets, capital ratio, income and nonperforming assets.

• Among Washington banks, 36 received the top rating of five stars.
• Among those with five stars based in the South Sound were Columbia State Bank, Fife Commercial Bank, Olympia Federal Savings and Loan, and Valley Bank, which soon will be subsumed by Olympia-based Heritage Bank, which itself rated four stars.
• Four banks in the state – Business Bank of Burlington, Hometown National Bank of Longview, Prime Pacific Bank N.A. of Lynwood, and Eastside Commercial Bank of Bellevue – received one star.
• Among credit unions in the state, 57 received five stars.
* Among those with five stars based in the South Sound were America’s Credit Union of JBLM, American Lake Credit Union of Lakewood, Cascade Federal Credit Union of Kent, Community 1st Credit Union of DuPont, Evergreen Direct Credit Union of Olympia, Harborstone Credit Union of Tacoma, IBEW Federal Credit Union of Tacoma, Mount Rainier F.C.U. of Puyallup, O Bee Credit Union of Tumwater, Sound Credit Union of Tacoma, Tacoma Longshoremen C.U. of Fife, Tacoma Narrows F.C.U. of Ruston, Washington State Employees C.U. of Olympia, WCLA Credit Union of Olympia, and Woodstone Credit Union of Federal Way.
• Only one credit union, Northwest Baptist Credit Union of Seattle, received a Bauer rating of zero stars. None rated one star.
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