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.
Online PR News – 09-May-2013 – Miami, FL, USA (May 8, 2013) – Sabadell United Bank (https://www.sabadellbank.com) 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."
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.
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