Northfield Savings Bank rated ‘A Best Performing Bank’ by Highline Financial

first_imgNorthfield Savings Bank,Highline Financial recently released its quarterly bank performance report. Northfield Savings Bank was rated a ‘Best Performing Institution.’The Highline Rating is calculated on a quarterly basis using four key ratios (capital adequacy, asset quality, earnings strength and liquidity) and encompasses both current and historical data. It compares banks on a national and regional basis, and by asset size. In addition to rating banks, Highland ranks the states in terms of the overall quality of the banks domiciled in each state. Vermont was ranked as one of the top four states nationally, along with Massachusetts, Rhode Island and Nebraska.‘Consistent high performance has been the hallmark of Northfield Savings Bank,’ remarked Thomas N. Pelletier, President and CEO. ‘Our continuing success is predicated on an outstanding staff, and the loyalty of our customers, as well as adherence to strong operating standards. Northfield is very pleased to be rated highly. We are grateful to operate in Vermont and proud of the Vermont banking industry’s strong position nationally.’The Highline Rating has been used for rating banks since 1985. Originally developed by Sheshunoff Information Services, it was first known as the Sheshunoff Rating. Over the last 25 years, the Highline Rating has undergone periodic evaluations and improvements to ensure its effectiveness as a strong indicator of a bank’s financial health.Northfield Savings Bank was founded in Northfield, Vermont in 1867 by a schoolmaster and haberdasher who believed a local community bank was needed. More than 143 years later, the Bank continues this community-minded tradition, and has grown to become the second largest bank headquartered in the State. Also known for its role as a corporate citizen, Northfield Savings Bank proudly donates 10% of profits to Vermont community organizations, totaling at least $300,000 per year. Northfield Savings Bank operates 13 branches throughout central Vermont and Chittenden County. Member FDIC. is external)(Source: Highline Financial on Friday, September 24, 2010, is external))last_img

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