Sabadell
United Bank today announced it has received the coveted five-star
rating by BauerFinancial Inc, a distinction awarded to only 17
percent of the banking institutions in Florida.
Miami,
FL, USA (May 8, 2013) -- Sabadell
United Bank today announced it has received the
coveted five-star rating by BauerFinancial Inc, a distinction awarded
to only 17 percent of the banking institutions in Florida. This is
the bank's third consecutive time receiving this high ranking.
BauerFinancial's
ratings are based on upon an analysis of current financial reports
that are filed with federal regulators four times a year. The data is
thoroughly analyzed and compared to past data provided by Sabadell.
The bank is required to maintain a capital ratio of at least 4%, a
tier 1 risk-based capital ratio of at least 4% and a total risk-based
capital ratio of at least 8%.
Sabadell
United Bank reported a net income of $5.8 million for the last
quarter ending on December 31, 2012. Sabadell United Bank's
fourth-quarter Tier 1 risk-based capital ratio was 17.58 percent and
its Tier 1 to average assets ratio was 10.39 percent, well above the
FDIC standards for a well-capitalized bank of six and five percent,
respectively. Additionally, Sabadell United Bank's profits have
increased 12 percent to $6.5 million in quarter one of 2013.
"This
recognition is a testament to what a strong banking institution with
sound management is capable of achieving," said President and
CEO Mario Trueba said. "It's gratifying to once again receive
such high rankings because it underscores our commitment to always be
there for our clients."
About
BauerFinancial
BauerFinancial,
one of the nation's most respected independent ratings agencies, uses
federal regulatory data to rate banks based on capital ratio,
profit/loss trend, delinquent loans and other factors. The rankings
range from a high of five stars to a low of zero stars. A five-star
rating is classified as "superior," and those banks are on
BauerFinancial's Recommended Report.
About
Sabadell
United Bank
Sabadell
United Bank, headquartered in Miami, Florida, is a locally-managed,
nationally-chartered banking institution. The bank has 23 locations
throughout the state, serving more than 40,000 clients, and is the
fifth largest bank in Florida by deposits. Bauer Financial Reports
recognized the financial strength of the bank by awarding it a
five-star rating, the highest available. Sabadell United Bank is
recognized as the trusted financial advisor for professionals and
businesses as well as domestic and international high-net-worth
individuals.
Media
Contact:
Ana
Marquez
305-967-6668
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