According to MSN Money, with a method originally developed to diagnose failing banks, Intracoastal Bank is has been ranked one of the 359 safest banks out of 7,300 in America. This ranks Intracoastal Bank in the top 5% safest banks in the Country.
MSN Money reported that to help Americans regain their sense of financial security and peace of mind that their money is safe, a special metric called the “Texas Ratio” has been developed. It was developed by a financial wizard at RBC Capital Markets named Gerard Cassidy, who used it to correctly predict bank failures in Texas during the 1980s recession. It was used again in New England during the recession of the early 1990s. While the ratio has been excellent at predicting bank failures, it can also be used to rank the banks that are the safest. The closer the Texas ratio gets to zero, the lower the bank's risk of failure. Out of more than 7,300 banks, there are just 359 banks in America with a perfect Texas ratio of 0.0. President and C.E.O. of Intracoastal Bank, Bruce Page said. “Intracoastal Bank is one of those banks and the entire team at the bank is extremely proud of this ranking,” Page added. “We are thrilled that we are being recognized as one of safest financial institutions in the Nation, State of Florida and in our local market area. As a local Hometown Community Bank we are able to offer the personal service and safety that customer’s desire.”
There were only twelve banks in Florida that made the list, and Intracoastal Bank was the only bank headquartered in the Volusia, Flagler and St. Johns area to make the list. For a complete list of the banks that earned the ranking and the entire article, visit http://money.msn.com/
Intracoastal Bank, headquartered in Palm Coast, is Flagler County’s only locally owned and operated financial institution. Intracoastal Bank’s main banking center is located at 1290 Palm Coast Parkway, NW, Palm Coast, Florida 32137. The Bank’s Lending Center is located at 1671 N. Clyde Morris Blvd Ste 120, Daytona Beach, FL 32117. The Bank serves the Northeast and East Central Florida area. The bank offers a full range of deposit and loan products tailored to meet the needs of customers and the community. The bank is a state charted commercial bank, member FDIC. Intracoastal‘
Contact: Bruce Page
President & C.E.O.