Despite an uncertain economic environment, Charleroi Federal continues to shine at the center of the financial industry with capital of over 12 percent and 551 million dollars in assets.

Bauer Financial Inc., the nation’s leading independent bank rating and research firm, recently announced that Charleroi Federal has earned its highest rating (5 stars) for 25 consecutive years, an accomplishment that only 1 percent of the nations’ banks enjoy.

Charleroi Federal also gained national attention when it was also recognized by SNL Financial Group, a leading provider of Financial Data, as the number 12 rated Mutual Holding Company in the country, in categories of strength such as low percentage of non-performing assets, low net charge offs and the bank’s strong capital position.

President and CEO Neil D. Bassi stated that “for over 77 years our guiding principal has been our adherence to high ethical standards.” Bassi added these accolades are even more important to note “in light of the negative impact of compression on net interest margins resulting from the current extended low rate environment.”

Additionally, Bassi mentioned that “2013 was an extremely productive year in the areas of construction and purchase lending, where Charleroi Federal originated a record number of loans while the refinancing of existing of mortgages have tapered.”

Bassi acknowledged the bank has considerable challenges ahead, the greatest of which is the regulatory environment that is more intense than in the past and the overall increase in risk and how its associated costs need to be controlled in order to remain competitive.

Bassi also indicated the many opportunities available through the leverage of technology that will enhance the bank’s ability to provide choices for consumers with mobile banking.

Bassi noted that Charleroi Federal Savings Bank national ratings of “superior” strength and “the banks consistently strong earnings year over year are the direct result of confidence our customers have in our employees. We recognize that partnering with our customers to augment their success benefits our customers, our communities in which we serve and the bank. It is called community banking, and we are proud to be a premier community bank.”

This article was submitted by Charleroi Federal Savings Bank.