Jim Cronin, president & CEO, Dime Bank
September 2010: Dime Bank, Norwich, earned the highest rating for strength and stability from BauerFinancial, Inc., Coral Gables, FL, the nation’s bank rating firm. Earning Bauer’s coveted 5-Star Superior rating indicates that Dime Bank is one of the strongest banks in the country excelling in such areas as capital adequacy, delinquent loan levels and profitability. In fact, Dime Bank has earned a recommended designation for the past 83 consecutive quarters.
“There has been a lot of debate recently about how much capital banks should have on hand,” explains Karen L. Dorway, president of BauerFinancial. “That has never been a question here at Bauer. A sizeable capital cushion can make all the difference in an economic crisis. In fact, we consider it so important that in order to earn a 5-Star rating from Bauer, Dime Bank’s capital ratios are at least twice what federal regulators require. With twenty-seven years to back us up, Bauer has always believed that capital is king.”
