November, 20, 2015 – Portsmouth, NH – This September, Piscataqua Savings Bank of Portsmouth was honored with the “Best of Bauer status” from Bauer Financial, a rating agency based in Coral Gables, Florida. The prestigious award recognizes banks and credit unions across the country that have achieved 100 consecutive quarters of operational excellence, reflected by Bauer’s 5-star rating.
Fewer than five percent of the nation’s banks have earned Bauer’s top rating for 25 years in a row, an honorary group of which Piscataqua Savings Bank is now a part. Criteria used to determine the star rating system include, but are not limited to: capital ratio, profitability, level of delinquent loans, investment portfolio quality, regulatory supervisory agreements, community investment and liquidity.
“We are so proud and appreciative of this special recognition,” said Rick Wallis, President and CEO of the Bank. “At Piscataqua Savings Bank, we strive to provide exemplary service to our customers, and we are always looking for ways to make the Portsmouth community a better place to live and work. This acknowledgement means a lot to us.”
Piscataqua Savings Bank is among the highest capitalized banks in the state. The only mutual bank based in Portsmouth today, Piscataqua Savings Bank has been a cornerstone of the Portsmouth community since 1877. Information is available at www.piscataqua.com.
Rick Wallis, President/CEO
Piscataqua Savings Bank