Lumbee Guaranty Bank Receives
Bauer Financial 5-Star Rating

Lumbee Guaranty Bank receives highest ratings - 5-Stars from BauerFinancial Inc.. BauerFinancial, Inc.  has been analyzing and reporting on the financial condition of the nation’s banking industry since 1983.  Through the years BauerFinancial has earned the reputation of “the nation’s bank rating service”   

Under BauerFinancial’s rating system, five stars represent Superior bank performance and is the firm’s highest rating.  The rating is based upon an analysis of current financial reports that are filed with federal regulators four times a year.  The quarterly data is subjected to thorough analysis and compared with historical data from Lumbee Guaranty Bank.  Upon completion of the analysis, a star-rating is assigned based on a scale of zero to five stare with five stars being the strongest.

“We would like to take this opportunity to congratulate our employees and directors, for their hard work and dedication in helping Lumbee Guaranty Bank achieve this honor” stated Larry R. Chavis, President and CEO. 

“As you know this has been a time of economic uncertainty, this 5-Star rating reflects our commitment to our customers, employees and stockholders.  Our customers and stock holders can be assured by obtaining this rating Lumbee Guaranty Bank is ranked as one of the strongest and safest bank’s the country” stated Larry R. Chavis.

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Temporary Changes to FDIC Deposit Insurance Coverage

The standard insurance amount of $250,000 per depositor is in effect through December 31, 2013. On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories except IRAs and other certain retirement accounts, which will remain at $250,000 per depositor.

The FDIC’s temporary Transaction Account Guarantee Program provides depositors with unlimited coverage for noninterest-bearing transaction accounts at participating FDIC-insured institutions. Noninterest-bearing checking accounts include Demand Deposit Accounts (DDAs) and any transaction account that has unlimited withdrawals and that cannot earn interest.

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Pembroke, NC

 
 

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