Local banks earn 5-Star Bauer ratings
Coral Gables, Florida — BauerFinancial, the nation’s bank rating firm, announced last week that two Delaware County banks have received Five-Star ratings for financial strength and stability, the highest ratings attainable.
The two banks are The Delaware National Bank of Delhi and the National Bank of Delaware County (NBDC.) The ratings are based on the overall financial condition of the banks.
Robert W. Armstrong, president of The Delaware National Bank of Delhi accepted his bank’s Superior Five-Star rating noting that The Delaware National Bank of Delhi is one of the strongest banks in the nation having achieved this designation for 58 consecutive quarters. Only 11 percent of the nation’s banks have earned this Superior Five-Star rating 58 consecutive times.
The Delaware National Bank of Delhi was established in 1839 and has been serving the banking needs of its neighbors and friends for 170 years. It operates through offices in Delhi, Davenport, and Margaretville and can be found on the Internet at www.dnbd.net.
Patrick Galloway, president of NBDC, accepted a “Distinguished Five-Star Superior Rating” from BauerFinancial.
“Earning five stars is an achievement in itself, but the fact that NBDC has won it for 81 consecutive quarters makes it an even higher honor,” noted Karen L. Dorway, president of Bauer. “Only four percent of the nation’s banks have earned the honor that many times,” she said.
“If you’ve seen the news over the past year or two, you know we could use some good news about finance,” Dorway continued. “That’s why it’s so important today to share some good banking news,” Dorway concluded.
Galloway credits solid strategic planning over the years, and said, “We’re one of those old-fashioned banks that thinks its borrowers should have the capacity to repay their loans, so we’re not often disappointed. In this challenging market we still adhere to that idea – we’re eager to lend, as long as repayment is a pretty sure thing.” he added.