LaPorte Savings Bank has earned BauerFinancial’s 5-Star Superior rating for strength and security, “proof positive that you don’t have to be the biggest to be the best,” according to a press release.
BauerFinancial Inc., Coral Gables, FL, the nation’s bank rating firm, has been evaluating and rating banks since 1983. A 5-Star Superior rating indicates that LaPorte Savings Bank is one of the strongest in the nation, excelling in areas of capital, loan quality, profitability and more. The bank has earned this highest rating for the most recent 100 consecutive quarters, which secures it an even more elite status as a “Best of Bauer Bank.” This honor is reserved for those banks that have maintained the 5-Star rating for 25 years or longer.
“Local decisions, responsive service and a dedication to making the community a better place to live. These are the hallmarks of community banks and they are alive and thriving at LaPorte Savings Bank,” Karen L. Dorway, president of BauerFinancial, said in the release. “Community banks have an understanding of what the community needs and provide the financial support tailored to those needs. The money deposited into a community bank is loaned back out to the community. It all stays local.”
LaPorte Savings Bank is marking 144 years of service to the community. Established in 1871, it now operates locations in LaPorte, Chesterton, Michigan City and Westville.