CHERRY — The State Bank of Cherry has been recognized as a five-star superior bank by BauerFinancial Inc. of Coral Gables, Fla., the nation’s leading bank rating and research firm.
A five-star rating indicates that the State Bank of Cherry is one of the strongest banks in the nation. To earn this rating, State Bank of Cherry must excel in areas of capital quality, asset quality, profitability and much more. This is the 78th consecutive quarter the State Bank of Cherry has merited this honor, putting the State Bank of Cherry into an elite group of banks called sustained superiority banks. Only 9 percent of the nation’s banks can claim this distinction.
“It isn’t surprising to those of us who watch the industry that ‘plain vanilla’ banks, those that didn’t get into risky investments or lending, are the banks that are still standing strong today,” said Karen L. Dorway, president of the research firm. “State Bank of Cherry has stayed true to its purpose of serving its community in a prudent and responsible manner.”
The State Bank of Cherry was established in 1906 and has its offices on South Main Street in Cherry. It can be found on the Internet at www.statebankofcherry.com.