Wednesday, 25 July 2012
PATRIOT Community Bank Ranked as One of the SAFEST Banks in America.
Just 359 banks in America made the list and only 7 banks in Massachusetts were on it.
MSN.com featured an article yesterday (July 24,2012), titled “Safest Banks in America" The article, authored by Sara Glakas at InvestingAnswers.com, provided a list of the 359 “Safest” Banks in America. Only 7 banks from Massachusetts made the list - Patriot Community Bank in Woburn was one of them.
How did they determine what banks are the “safest”? According to the article, financial experts at The Independent Source, InvestingAnswers.com, they used published bank financial information and the Texas Ratio (a formula developed to diagnose failing banks) to determine the risk of failure.
According to the article, out of a total of more than 7,300 banks, only 359 banks in America have a perfect ” Texas Ratio” score of 0.0 – indicating they have the lowest risk of failure.
Link to the original article: http://www.investinganswers.com/personal-finance/smart-consumer/359-safest-banks-america-4372
237 Lexington St.
Woburn, MA 01801