BauerFinancial Inc of Coral Gables, Fla., has announced that Spratt Savings and Loan of Chester has earned its highest 5-Star Superior rating for financial strength and stability.
BauerFinancial, the nation's bank rating firm, has been analyzing and reporting on the nation's banks for over 25 years. The rating is based on the overall financial picture of the bank, and a 5-Star rating indicates that Spratt Savings and Loan is one of the strongest banks in the nation.
This is the 67th consecutive quarter that Spratt Savings and Loan has earned this highest honor. Only 8 percent of the nation's banks can claim this distinction.
Glenn Anderson, president and CEO of Spratt Savings and Loan, said the company's continued superior financial rating, achieved while operating in severe economic conditions, was attributable to an assertive but disciplined business model.
Spratt's principal focus is to build meaningful, longterm and mutually beneficial relationships with retail and business customers while growing the customer base.
Anderson acknowledged the board for its guidance and support and the employees for excellend execution of the association's commitment to superior customer service.
"The number of 5-Star rated banks is diminishing," said Karen L. Dorway, president of BauerFinancial. "That doesn't mean they are extinct. Spratt Savings and Loan is an excellent example of traditional, conservative banking. In this new era of 'back to basics' thinking, this is exactly what you should be looking for in a bank."
Spratt Savings and Loan, S.C.'s oldest savings institution, was established in 1892 and has been serving the banking needs of its neighbors and friends for 117 years. It operates through two offices in Chester and Great Falls and can also be found on the Internet at www.sprattsavingsandloan.com.
