Awards

The Bank of Elk River Earns 5-Star Rating from BauerFinancial

The Bank of Elk River Earns 5-Star Rating from BauerFinancial

BauerFinancial, the nation’s premier bank rating firm in Coral Gables, Florida, announced that The Bank of Elk River has earned its highest 5-star rating for 2020. A 5-star rating indicates that the bank excels in the areas of capital adequacy, profitability, asset quality, community reinvestment, and liquidity.

“We are pleased to be recognized by BauerFinancial for the third consecutive year,” said John Babcock, Chairman, President and CEO. “This is a testament to the quality and dedication of our employees and the people we serve in our community.”

“As the president of BauerFinancial, I am often asked what it takes to be a 5-Star bank,” reflects Karen Dorway, president of the research firm. “Like so many other things in life, success in banking boils down to knowledge. Knowledge of banking, of course, but knowledge of its customers and the communities the bank serves are equally important. This intimacy enables the bank to steer clear of danger and work with customers for a common goal. It’s what gets so many community banks, like The Bank of Elk River, get through the tough times unscathed.”

BauerFinancial, Inc. has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983. No institution can pay for or opt-out of a BauerFinancial rating. Additional information can be found online at bauerfinancial.com.

The Bank of Elk River proudly serves the financial needs of individuals and businesses in Anoka, Elk River, Otsego, Zimmerman, and the surrounding communities.

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