Local banks earn top ratings
Published 2:52 pm Monday, January 4, 2010
By By Kerry Whipple Bean
Two Brewton banks have received top ratings, according to two ratings services that sized up banks recently.
Bank of Brewton — the state’s oldest bank — had a troubled asset ratio of zero, relating to the ratio of troubled loans against the capital a bank has to cover loan losses.
Brewton-based First Progressive Bank had a troubled asset ratio of 1.8.
Both banks received five-star “superior” ratings from Bauer Financial Services and four-star “excellent” ratings from Bankrate.
Bank of Brewton president Jerry Kelly gave credit to the customers and staff of the bank.