BauerFinancial, Inc., the Nation’s Premier Bank Rating Firm, announced that Chelsea Groton Bank has earned its highest, 5-Star rating for 119 consecutive quarters. Chelsea Groton Bank has also earned a “Best of Bauer Bank” designation, which is reserved solely for those banks that have earned and maintained Bauer’s 5-Star Rating for financial strength and stability for 25 years (100 consecutive quarters), or longer. This latest rating was assigned in December 2023 based on September 30, 2023 financial data and signifies that Chelsea Groton Bank continues to be one of the strongest banks in the nation.
“Bauer rates banks based on their overall financial condition. While Bauer does not rate based on how much a bank gives back to its community, sometimes I wish we could. The employees of community banks, like Chelsea Groton Bank, feel a responsibility to help their community grow and thrive,” reports Karen Dorway, president of the rating firm. “It gives me great pleasure to acknowledge that a bank that measures its success by the success of its community members does so from such a solid financial foundation.”
The Bank holds 20.10% of the deposit market share in New London County, more than any other financial institution with a physical location in the County’s footprint, including national and regional banks.*
Since its inception in 1854, Chelsea Groton Bank has been an enthusiastic supporter of the people and organizations in the communities it serves.
* Offices and Deposits of all FDIC-Insured Institutions Deposit Market Share Report, June 30, 2023.
About BauerFinancial, Inc.
BAUERFINANCIAL, Inc., Coral Gables, Florida, the nation’s leading independent bank and credit union rating and research firm, has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983. No institution can pay for or opt out of a BauerFinancial rating. Star ratings are all available for free at bauerfinancial.com.
