WARREN, Ohio, Feb. 5, 2009 (GLOBE NEWSWIRE) -- First Place Financial Corp. (Nasdaq:FPFC), the parent company of First Place Bank, has been included for the second consecutive year in Bank Director Magazine's annual list of the nation's Top 150 Bank Performers, among 8,500 competitors.
The ranking is based on the magazine's annual Bank Performance Scorecard, including measurement criteria and analysis compiled by Sandler O'Neill & Partners L.P., a New York-based investment banking firm specializing in the financial services industry.
Primary measurements used to determine scores include profitability, capital adequacy and asset quality. Results for 2008 were released in the magazine's first quarter 2009 issue, published in January.
As noted by author Paul Sweeney in Bank Director, top performers "tend to have minimal exposure to real estate and construction loans, preferring to lend money to businesses, corporations, and individuals with sound credit histories." First Place CEO Steven R. Lewis concurred. "We've maintained our credit quality standards and responsible practices all along, no matter what others were doing," said Lewis. "It's gratifying to have those standards recognized by First Place's inclusion in the Top 150 list," he concluded.
About First Place Financial Corp.
First Place Financial Corp. is a $3.4 billion financial services holding company based in Warren, Ohio. First Place Financial Corp. operates 44 retail locations, 2 business financial service centers and 18 loan production offices through the First Place Bank and the Franklin Bank divisions of First Place Bank.
Additional affiliates of First Place Financial Corp. include First Place Holdings, Inc., the holding company for the Company's nonbank affiliates including First Place Insurance Agency, Ltd.; Coldwell Banker First Place Real Estate, Ltd.; TitleWorks Agency, LLC, APB Financial Group, Ltd. and American Pension Benefits, Inc. Information about First Place Financial Corp. may be found on the Company's Web site: www.firstplacebank.com.