CLINTON, N.J., Nov. 08, 2017 (GLOBE NEWSWIRE) -- Unity Bank has received the prestigious “5-Star Rating” from BauerFinancial, Inc., the nation’s leading independent bank and credit union rating and research firm. The 5-Star rating is the highest ranking the banking industry research firm can assign a financial institution.
“The 5-Star Rating by BauerFinancial indicates that Unity Bank excels in many different areas, including available capital, profitability and asset quality,” said Unity Bank President & CEO James A. Hughes. “The rating places Unity Bank in the top tier of financial institutions in the United States. We are honored by the ranking and are committed to providing the highest level of service.”
Nationally, all banks and credit unions are required to file detailed financial reports with federal regulators four times a year. BauerFinancial, which has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983, obtains this data in its raw form from the government for analysis and comparison with historical data for consistency. Upon completion of the analysis, a star rating is assigned to every bank and credit union based on a scale of zero to five stars, the highest rating.
“By earning Bauer’s highest 5-Star rating, Unity Bank proves to its customers and the community that it is committed to their needs and to financial discipline,” said Karen L. Dorway, president of BauerFinancial. “As times change, so do customers’ needs. Community banks like Unity Bank excel at finding ways to meet these ever-changing needs while maintaining financial discipline and prudent underwriting.”
The BauerFinancial star rating is based on a wide range of data points, including but not limited to: capital adequacy, profitability/loss trend, evaluating the level of delinquent loans, charge-offs and repossessed assets, the market versus book value of the investment portfolio, regulatory supervisory agreements, Community Reinvestment Act (CRA) rating, historical data and liquidity. For more information on the rating system, please visit www.BauerFinancial.com.