Reading Cooperative Bank Receives Five-Star Rating for Financial Soundness from Bauer Financial

Reading, MA - Reading Cooperative Bank has earned a 5-star or “superior” rating from Bauer Financial for the 92nd consecutive quarter. It is the highest ranking a bank can receive in the Bauer system, which prides itself on accurately analyzing and rating banks and credit unions while paying attention to intricate details that other rating agencies may not consider.

The Bauer rating system considers a bank’s capital ratio, as well as, but not limited to, its: profitability/loss trend, level of delinquent loans, charge-offs and repossessed assets, market vs. book value of investment portfolio, regulatory supervisory agreements, community reinvestment rating, historical data and liquidity.

To receive a “superior” rating for 23 years in a row from Bauer is a testament to Reading Cooperative’s commitment to providing a safe and sound environment for its customers’ deposits. Every deposit is insured through the FDIC and the SIF, and the Bank adheres to traditional lending guidelines, which also helps to keep it strong. When the Bank is strong it is also able to reinvest in the communities it serves.

Reading Cooperative has consistently, not only met but exceeded, Bauer Financials standards when it comes to being a high-quality, dependable bank. “In order to be a successful bank it is imperative that our customers can trust us. We are very proud of our 5-star rating but are also aware that there is always room for improvement and we will continue to improve in the future,” says Anthony Patti, Chief Financial Officer.

About Reading Cooperative Bank:
Reading Cooperative Bank is a 21st-century community bank with a track record of progress dating back to 1886. The Bank was founded on the principle that profit and growth go hand-in-hand with responsible banking and service to the community – a philosophy that has put Reading Cooperative Bank on a long-term track for success. Banking Specialists can be reached by visiting one of the 8 branch locations: Andover, Burlington, North Reading, Reading, Reading Memorial High School (available to RMHS students only) Wilmington (2) or Woburn. Or, you can visit online at Readingcoop.com.

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