While many banks are being taken over by the FDIC or forced to close their doors, rural nevada’s Nevada Bank and Trust was given the coveted five star rating by one of the premiere financial firms.
Nevada Bank and Trust was recognized as a superior 5-Star rated bank by BauerFinancial, Inc., Coral Gables, Florida, the nation’s leading bank rating and research firm. To earn this rating Nevada Bank and Trust must not only report impressive capital levels, but also an enviable loan portfolio with negligible levels of delinquent loans.
That’s a combination that has been hard to come by the past couple of years. Yet, Nevada Bank and Trust has managed to do it. With that, BauerFinancial bestows its highest 5-Star Superior rating on Nevada Bank and Trust denoting the highest level of strength and performance that a bank can receive.
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“Not only has Nevada Bank and Trust proven its efficacy yesterday and today, it is also primed for whatever tomorrow may bring,” observes Karen L. Dorway, president of BauerFinancial. “The past three years have put a considerable amount of pressure on our nation’s banks and we are pleased to see community banks, like Nevada Bank and Trust, still able to shine.”
That is not to say things have been easy for the small regional bank especially in the last couple of years.
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In 2010 and in 2011 the bank closed its branches in West Wendover and Carlin. Bank CEO Glenn Wadsworth explained at the time that while the closure were unfortunate the bank had to tighten its belt to remain solvent.
Nevada Bank and Trust was established in 1978 and has been effectively meeting the needs of its local communities for 33 years. It currently operates through four conveniently located offices in Caliente, Elko, Ely and Mesquite and can also be found online at www.nevadabankandtrust.com.
Nevada Bank and Trust: “May we be of service to you?”
BauerFinancial, Coral Gables, Florida, the nation’s leading independent bank and credit union rating and research firm, has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983. No institution pays BauerFinancial to rate it, nor can any choose to be excluded. Consumers may obtain star-ratings by visiting www.bauerfinancial.com.
And while the five star rating is the first of its kind in Elko a much more concrete test to the strength of the bank is the loyalty of its customers.
Over 80 percent of NB&T’s clients in Wendover and Carlin have remained with the bank despite the closures of the local branches.
“That speaks for itself,” said Elko branch manager Tom Gust.
