VENTURA, CA -- Based on 2011 financial results, Ventura County’s award winning and locally owned County Commerce Bank has been recognized by financial industry ratings organizations as one of the nation’s best performing banks and one of the highest rated banks on California’s central coast.
The bank was rated a “Super Premier Performing Bank” for the fourth time by The Findley Reports. County Commerce was one of only 35 California banks, and the only bank headquartered in Ventura County, to receive this rating for their 2011 performance. The bank has been rated a “Super Premier Performing Bank” or “Premier Performing Bank” for the past seven years. The Findley Reports publish the most comprehensive financial institution analysis offering comparison, performance and evaluation of California's banking industry. Their ratings are highly regarded and recipients are recognized throughout California as financial institutions achieving exceptional performance.
Kreutz noted, “We are honored to be recognized again this year as a Super Premier Performing Bank by The Findley Reports. The past few years have been extremely difficult for many banks across the country and we are pleased to receive this advanced rating recognizing the exceptional performance our bank.”
In addition, the bank received the highest Five Star “Superior” rating for the 28th consecutive quarter from BauerFinancial, Inc., which indicates that the bank is one of the safest in the United States. County Commerce is the only bank headquartered in Ventura County to receive this award for 28 consecutive quarters and the only bank in the tri-counties to earn five stars for the fourth quarter of 2011. BauerFinancial providesindependent bank and credit union ratings; institutions do not pay for nor can they choose to be excluded. Star-ratings are assigned based on a scale of zero to five stars with five stars being the strongest.
Kreutz explained, “We are pleased to be recognized once again by BauerFinancial for our consistent, strong performance. The hard work and dedication of our Board of Directors and staff have resulted in our ability to remain financially sound and to be able to provide the wide range of quality deposit, cash management and credit services our customers deserve. The bank’s excellent liquidity and strong capital position allow us to continue lending to local businesses and individuals, which strengthens the economy of our local community.”
Financial Management Consulting Group, a financial industry rating company that publishes bank performance reports, rated County Commerce Bank as the top rated bank in the tri-counties and 20th best performing bank in all of California. The report’s rankings for 230 banks headquartered in the state are based on earnings, asset quality, efficiency, margin management, and fee analysis.
According to Joseph D. Kreutz, County Commerce Bank’s President and Chief Executive Officer, “Our 2011 financial results reflect the bank’s solid, steady, prudent growth, even during difficult economic times. We feel that it is our obligation to our shareholders and customers to manage the bank so it can thrive in any environment even when the competition may be unable to do so.”
Kreutz added, “We value these rankings and awards from financial industry experts, but our entire team believes the ongoing support of our customers remains our most important performance measurement. We are well-positioned for the future, with a customer base of strong relationships, a high quality loan portfolio, excellent products and services, loyal shareholders, and a dedicated and experienced staff.”
About County Commerce Bank
County Commerce Bank (OTCBB: CNYB) is a full-service commercial bank founded by local professionals and business leaders in Ventura County. The bank opened for business in February 2003 in Ventura at 3260 Telegraph Road (one block west of Mills) and has a second branch at 2400 E. Gonzales Road in Oxnard. County Commerce Bank will open a third branch in May 2012 at 2357-B Pickwick Drive in Camarillo. County Commerce Bank, with assets over $188 million, offers professionals, businesses, and consumers a complete line of financial solutions including business and personal banking and credit services and state of the art technology along with a personalized banking experience. For more information, call 805-477-7600 in Ventura or 805-485-7600 in Oxnard or visit www.CountyCommerceBank.com.