SARATOGA SPRINGS – The Adirondack Trust Co. has again earned the five-star rating from BauerFinancial.
A five-star rating from bank rating firm BauerFinancial indicates that a bank excels in areas of capital adequacy, profitability, asset quality and more. In addition, by earning this top honor for 43 consecutive quarters in a row, Adirondack Trust was also named an “exceptional performance bank” by BauerFinancial.
“The Adirondack Trust Company is a prime example of a community bank excelling at what a community bank was meant to do,” Karen L. Dorway, president of BauerFinancial, said in a statement. “It employs locally, thereby having the same personal investment in the community as its customers; it makes decisions locally, often for neighbors and friends; and it focuses on quality as opposed to quantity.
“That focus has paid off for both The Adirondack Trust Company and for its community.”
Charles V. Wait Jr., executive vice president of Adirondack Trust said the bank is honored to be recoginzed as an exceptional performing bank by Bauer Financial.
“Since our founding in 1901, we have fervently committed ourselves to providing a sound financial institution for the well-being of our community, Wait said in a statement.
BauerFinancial, based in Coral Gables, Florida, is an independent bank and credit union rating and research firm that has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983.
The Adirondack Trust Company is alocally owned and operated, community bank. The bank has more than $1 billion in assets and 12 branch offices. The bank offers banking, trust, insurance and investment management services, and originates real estate mortgages, both residential and commercial, and commercial business loans throughout its primary market area.
Log in below and connect with The Ballston Journal on Linkedin.