HENNEPIN — North Central Bank in Hennepin has received a five-star rating from BauerFinancial of Coral Gables, Fla.
The bank has earned this highest rating for 99 consecutive quarters. The latest rating is based on June 30 financial data and indicates that North Central Bank significantly exceeds all federal capital requirements and maintains a low level of delinquent loans, among other benchmarks.
Having continuously earned a five-star rating for this length of time merits a distinction of being a "sustained superiority bank," which only 3 percent of the nation's banks have earned for so long and with such consistency.
"A recent Gallup poll indicates that customer confidence in the banking industry is beginning to come back," said Karen L.Dorway, president of BauerFinancial. "That confidence, no doubt, can be attributed to community banks like North Central Bank, that hold to the principles of sound banking."
North Central Bank was established in 1946 and has two offices located in Hennepin and Ladd. BauerFinancial has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983.