FROM STAFF REPORTS
July 1, 2014
WHITESVILLE — BauerFinancial, Inc., the nation’s leading bank rating and research firm, is honored to recognize Whitesville State Bank in Whitesville, W.Va., with its highest 5-star rating.
To earn this superior 5-star rating, Whitesville State Bank excels in areas of capital, asset quality, profitability and much more. What’s more, Whitesville State Bank has earned this highest rating for the latest 29 consecutive quarters.
The rating is based on March 31, 2014, financial data and signifies that it is one of the strongest banks in the nation.
Karen L. Dorway, president of the rating firm, has a rare vantage point, having monitored the industry for more than two decades.
“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,” Dorway said. “Whitesville State Bank has stayed true to its purpose of serving its community in a prudent and responsible manner.”
Dorway added that the FDIC touts the benefits of community banks, saying they are “important providers of credit to small businesses and serve hundreds of counties and thousands of communities that are overlooked by larger non-community institutions.”
“Community banks, like Whitesville Staet Bank, that have been able to earn and maintain Bauer’s top rating for strength and security reflect that deep-rooted sense of loyalty to the local community,” she said.
Established in 1946, Whitesville State Bank has been serving the banking needs of its local communities for 66 years. It operates through 4 conveniently located branch offices in Comfort, Crab Orchard, Glen Daniel and Whitesville and can be found on the Internet at www.whitesvillesb.com and is a member of the FDIC and an Equal Housing Lender.