Peoples Federal Savings Bank earns top rating from BauerFinancial
BRIGHTON, MASSACHUSETTS, July 29, 2008 … For the 48th consecutive quarter, Brighton-based Peoples Federal Savings Bank has earned a 5-Star Superior rating for financial strength from BauerFinancial, Inc., a national, independent bank research firm.
BauerFinancial conducts a financial analysis of U.S. banks according to comprehensive formulas used to evaluate the institution’s financial performance. The banks are then assigned a star rating from zero to five, with five stars being the strongest.
Thomas J. Leetch, president and CEO, stated that this most recent award places Peoples Federal Savings Bank in an elite group of banks considered “Exceptional Performance Banks” by the rating firm.
“We’ve built our institution on prudent lending standards and careful management of assets. We have never offered ‘sub-prime’ mortgages. Instead, we’ve focused on quality financing that serves the needs of our customers. This conservative approach has provided a solid financial foundation our customers can count on,” added Leetch.
Peoples Federal Savings Bank is a $400-million mutual savings bank operating full-service offices in Allston, Brighton, Brookline, Jamaica Plain, Norwood, and West Roxbury. Established in 1888, the Bank is a member of the Federal Deposit Insurance Corporation (FDIC).
Based in Coral Gables, Florida, BauerFinancial, Inc. is the nation’s leading independent bank rating firm. It has been reporting on and analyzing the performance of US banks, thrifts and credit unions since 1983.
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