Cameron State Bank has been named the overall best bank in Louisiana based on its excellent performance and soundness according to the Louisiana Bank Performance Report published for the 1st Quarter of 2009, by Financial Management Consulting Group, a Kentucky based consulting firm. The report lists Cameron State Bank as the number one bank in Louisiana out of all 133 banks in the state.
"Cameron State Bank's superior performance indicates they have an extremely capable management team, especially since many banks are having trouble in these tough economic times. It is quite an accomplishment to be ranked in the top five banks, but to be ranked number one out of 133 state banks, Cameron State Bank has to be hitting all the financial marks. The bank's clients are fortunate to have such a sound financial institution in their community, and the bank deserves to be congratulated," says W. Timothy Finn II, a principal at the consulting firm.
Performance rankings for Louisiana banks are based on eight financial factors. Six of those factors are based on earnings or components of earnings. Additional components such as operating overhead, efficiency ratio, return on assets, and return on equity are also included in the evaluation. The remaining factors that complete the evaluation process are related to a bank's strength, equity, and reserve position relative to non-performing assets as well as the bank's overall asset quality. All Louisiana banks are scored and ranked in each category, with an overall composite score and the bank's ranking determined by the average of all the accumulated factors.