The following is a news release from Cameron State Bank:
Cameron State Bank, Lake Charles, Louisiana, was named overall best bank in Louisiana for excellent performance and soundness among banks with $50 million or more in assets for the 4th quarter of 2009, based on information that was compiled and reported in the Louisiana Bank Performance Report, which is published by Financial Management Consulting Group, a Kentucky-based 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 examined for 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.
W. Timothy Finn II, a principal with the consulting group who published the report, stated that Cameron State Bank's performance indicates they have an extremely capable management team, especially at a time when many banks are struggling. "Cameron State Bank is 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."
"We are very proud to receive a number one ranking again," says Roy Raftery, Jr., Cameron State Bank President and CEO. "Our top priority is providing our customers with sound and secure banking services. This recognition of our commitment is not only rewarding to us, but should also validate the confidence our customers have placed in us."