Clarkston State Bank Awarded Superior 5-Star Rating from “the Nation’s Bank Rating Service”

Waterford, Michigan, UNITED STATES

CLARKSTON, Mich., Nov. 15, 2017 (GLOBE NEWSWIRE) -- Demonstrating the bank’s dedication to financial strength and stability, Clarkston State Bank (CSB)  today announced that it has been awarded a 5-star “superior” rating — the highest possible — from BauerFinancial. BauerFinancial is the leading source for unbiased, independent bank and credit union star-ratings, earning Bauer the reputation of “the nation’s bank rating service.”

A 5-star rating from Bauer indicates that CSB’s capital structure, operating procedures and default protections make CSB among the safest and most secure financial institutions in the nation. CSB achieved its rating by maintaining at least twice the capital that regulators require, maintaining strong profitability and keeping its delinquent loans to a minimum.

“This coveted 5-star rating is a reflection of the care and thoughtful management exhibited by the entire Clarkston team,” said J. Grant Smith, President and CEO.   “We are proud to be recognized for our strength and dependability and appreciate the trust our customers put in us.”

Each bank and credit union is required to file a detailed financial report with federal regulators four times a year. BauerFinancial obtains this data in its raw form from the government. The quarterly data is subjected to a thorough analysis and is compared with historical data for consistency. Upon completion of the analysis, a star-rating is assigned based on a scale of zero to five stars with five stars being the strongest.

About BauerFinancial, Inc.
BauerFinancial, Inc. has been analyzing and reporting on the financial condition of the nation’s banking industry since 1983. With our help, countless depositors successfully navigated their way through the savings and loan crisis of the ’80s when others lost billions of dollars in uninsured deposits. Through the years BauerFinancial has earned the reputation of “the nation’s bank rating service”. Now, more than a quarter of a century later, hundreds of newspapers depend on our ratings for their readers. Over the years, federal and state regulators have referred thousands of inquirers to Bauer.

Clarkston State Bank opened in January 1999 and operates two branches in Clarkston and Waterford, Michigan.

Safe Harbor. This news release contains comments or information that constitute forward-looking statements within the context of the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve significant risks and uncertainties. Actual results may differ materially from the results discussed in the forward-looking statements. Factors that may cause such a difference include: changes in interest rates and interest-rate relationships; demand for products and services; the degree of competition by traditional and non-traditional competitors; changes in banking regulations; changes in tax laws; changes in prices, levies, and assessments; the impact of technological advances; governmental and regulatory policy changes; the outcomes of contingencies; trends in customer behavior and their ability to repay loans; and changes in the national and local economy. The Corporation assumes no responsibility to update forward-looking statements.

Media Contact: Clarkston Financial Corporation – J. Grant Smith, CEO, 248-922-6945.