BIRMINGHAM — One of the safest banks in America is right here in Birmingham. Bank of Birmingham was recently ranked as one of the 383 safest banks in America by InvestingAnswers and as a 5-Star Superior Bank by BauerFinancial.
“Both the ‘safest’ and ‘5-Star’ ratings reinforce our values of community and fiscal responsibility,” says Rob Farr, president and CEO, Bank of Birmingham.
InvestingAnswers’ list of the safest banks in America uses an algorithm developed by RBC Capital Markets in the 1980s to predict bank failure. A perfect score is 0, and indicates the lowest risk of failure. Of 7,300 banks in the US, just 383 had that perfect score. Bank of Birmingham was one of just five in Michigan to make the list.
BauerFinanical’s 5-Star Superior ranking means that Bank of Birmingham excels in capital quality, asset quality and profitability. BauerFinancial is an independent agency that publicly rates all institutions. Institutions cannot pay to be rated, nor can they choose to be excluded.
“We are proud to be an independent bank that is strongly rooted in our local community,” says Farr. “Our customers are our neighbors, which influences our lending and investing decisions. We are philosophically driven to be responsible financial stewards for our customers.”