Dolores State Bank has received an A+ financial health rating from consumer information website, DepositAccounts.com, based on third quarter 2014 data.<\/p>\n
The rating puts the Dolores State Bank in the top 13 percent of the approximately 13,000 federally insured banks and credit unions nationwide in terms of financial health, according to DepositAccounts spokesman Patrick Russo.<\/p>\n
By DepositAccounts\u2019 measure, The Dolores State Bank has increased its total deposits by $8.39 million, resulting in 6.92 percent growth for 2014.<\/p>\n
\u201cA strong track record of growth is an indicator of consumer confidence and the bank\u2019s ability to strengthen its balance sheet,\u201d said the website\u2019s report. \u201cThe growth the Dolores State Bank has shown is excellent.\u201d<\/p>\n
The Texas Ratio \u2013 an indicator of a bank\u2019s available capital compared with the value of at-risk loans \u2013 for The Dolores State Bank decreased from 10.37 percent as of Sept. 30, 2013, to 6.59 percent as of Sept. 30, 2014, resulting in a positive change of 36.48 percent, according to the DepositAccounts.com data.<\/p>\n
\u201cThis indicates that the balance sheet and financial strength for the Dolores State Bank has improved dramatically in recent periods,\u201d the report said.<\/p>\n
As of Sept. 30, 2014, The Dolores State Bank had $1.32 million in non-current loans and owned real-estate with $19.99 million in equity and loan loss allowances on hand to cover it. Any bank with a Texas Ratio near or greater than 100 percent is considered at risk.<\/p>\n
Each institution DepositAccounts ranks is graded on factors including capitalization, deposit growth, and loan to reserve ratios, in order to determine a comprehensive health rating.<\/p>\n
\u201cWe\u2019re obviously very excited about it,\u201d said bank president Ed Meritt, noting that the bank has received A+ rating from groups like Bauer Financial for years.<\/p>\n
\u201cWith the economy going through these bad times and going through the downturn, we still maintained A+ rating, I think it shows a lot about out customers, employees and stockholders.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
in top 13 percent<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6363],"tags":[188,13],"naviga_topic":[],"class_list":["post-114935","post","type-post","status-publish","format-standard","hentry","category-ds-news","tag-dolores-star","tag-frontpage-lead"],"acf":[],"author_name":"dh_admin","_links":{"self":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/posts\/114935","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/comments?post=114935"}],"version-history":[{"count":0,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/posts\/114935\/revisions"}],"wp:attachment":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/media?parent=114935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/categories?post=114935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/tags?post=114935"},{"taxonomy":"naviga_topic","embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/naviga_topic?post=114935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}