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Show Barnes gets xBlue Ribbon' rating KAYSVTLLE Davis County's 100-year-old financial fi-nancial institution, Barnes Banking Company, has received a "Blue Ribbon" rating from a company called Veribanc out of Massachusetts. This rating places Barnes in the top ten percent of 13,305 banks in the United States. Veribanc uses a color coding system to rate a bank based on how much money stockholders have in the bank compared to total assets and how much the money is making or losing. Blue is the best and safest. Green is safe and sound. Yellow means the bank is losing money or doesn't have enough stockholder equity. A Red rating indicates serious trouble for the bank if current trends persist. The "Blue Ribbon Bank" list is updated every quarter, and it is important to note that Barnes Banking Company has been rated "Blue" for more than 13 consecutive con-secutive quarters. Barnes Bank takes a conservative approach to lending, len-ding, paying careful attention to building on the money held in reserve. Steady growth over the years indicates that this approach is working very well. For 100 years, Barnes Banking Company in Kays- ville has been serving the citizens of Davis County. Now a Florida research firm called Bauer Financial Reports, Inc. announces that Barnes Banking Company has been awarded a five-star rating. This indicates that the bank is one of the safest, credit-worthy banks in the United States. The award is based on a zero-to-five star rating assigned as-signed by BFR-based on data filed with the Federal Reserve Re-serve Bank for the fourth quarter of 1989. A five-star rating, for the safest banks in the country, indicates that the bank's tangible capital exceeds 9.0 percent of tangible assets (Barnes capital exceeds 14.0 percent), that there are no excessive delinquencies or repossessed assets, and that the bank is profitable. The BFR historically awards a five-star rating to traditional banks that serve the local community and watch their bottom line. Curtis H. Hanis, president and CEO of Barnes Bank, says, "We attribute our growth and stability in part to continually putting our profits back into the bank. Much of the success also comes from the people in the community. We always strive to be honest and fair in the way we serve them. ' ' |