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Area banks, credit unions perform well in first quarter

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Banks and credit unions in North Central Washington are generally in good financial shape, according to an independent firm that analyzes the performance of financial institutions nationwide.

Bauer Financial, based in Florida, reported this month that 12 of 18 NCW banks and credit unions snagged a five-star rating (out of five) based on performance in the first quarter of 2013. Rating factors included capital-risk ratio, assets, profitability, losses, investment portfolios, the institutions’ historical performance trends and other criteria.

Area ratings through March 31:

Five stars — Banner Bank, based in Walla Walla; Cashmere Valley Bank, Cashmere; Farmers State Bank, Winthrop; KeyBank, Cleveland, Ohio; North Cascades National Bank, Chelan; Peoples Bank, Lynden; Washington Trust Bank, Spokane; Wheatland Bank, Spokane; GESA Credit Union, Richland; Granco Credit Union, Ephrata; Numerica Credit Union, Spokane Valley; and Wenatchee Valley Credit Union, Wenatchee.

Four stars — Sterling Savings Bank, Spokane; US Bank, Cincinnati, Ohio; and Coulee Dam Credit Union, Coulee Dam.

Three-and-a-half stars — Bank of America, Charlotte, N.C.; JPMorgan Chase, Columbus, Ohio; and Wells Fargo Bank, Sioux Falls, N.D.

Reach Mike Irwin at 509-665-1179 or . Read his blog Everyday Business or follow him on Twitter at @MikeIrwinWW.

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