For bankers, things just keep looking up.
That’s the latest indication from the Florida rating service Bauer Financial, which measures quarterly progress for banks and credit unions nationwide.
Citing year-end figures, Bauer said in a release this week that where 11.3 percent of Washington banks were in a “troubled or problematic” condition at the end of 2013, only 8.5 percent were so named at the end of 2014. Where 59.7 percent were “recommended” in 2013, fully 72.9 percent were well positioned a year later.
For credit unions in the state,1.9 percent were troubled in 2013 where a mere 1.0 percent were troubled a year later. And at the end of 2014, 92.1 percent were recommended, ahead of 88.7 percent in 2013.
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In the South Sound, several banks received Bauer’s top 5-Star rating. These included Columbia Bank and Commencement Bank in Tacoma; Fife Commercial in Fife; Kitsap Bank in Port Orchard; and in Olympia, Heritage Bank and Olympia Federal Savings and Loan. Only two banks in the state, Eastside Commercial of Bellevue and Hometown National in Longview, received zero stars.
Five-star credit unions based in the South Sound included Alaska Airlines/Horizon Air EFCU in SeaTac; America’s Credit Union at JBLM; BECU in Tukwila; Community 1st in DuPont; Tacoma Longshoremen in Fife; Tacoma Narrows in Ruston; Evergreen Direct, Twinstar, WCLA and Washington State Employees in Olympia; American Lake in Lakewood; Our Community in Shelton; Mt. Rainier FCU in Puyallup; Harborstone, UBEW 76, KBR and Sound in Tacoma; White River in Enumclaw; and Woodstone in Federal Way.