CHERRY — The State Bank of Cherry has been recognized as a five-star superior bank by Bauer Financial Inc. of Coral Gables, Fla.
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 80th 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.
“There has been much discussion lately about the need for banks to boost their capital levels,” said Karen L. Dorway, president of the research firm. “That doesn’t worry the State Bank of Cherry; its capital ratios are already well above regulatory requirements. Under the direction of Mr. Daniel Carrico, president, State Bank of Cherry excels in areas of asset quality profitability and much more.”
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.