Did you know that Lapeer County Bank & Trust Co. is in the top 2% of Michigan banks? Check out this article from Sundays County Press: LCBT ranked in top 2% BY JEFF HOGAN LAPEER — With all of the changes in the banking industry over the past several years, it can be very difficult for bankers, directors and investors to accurately assess a bank’s performance without a clear understanding of the impact of changing local market conditions on the bank’s performance. Banker’s Caddy provides a clear, comprehensive, and easy-to-understand perspective of a bank’s performance that clearly demonstrates how the bank’s strategy and execution differentiates its financial results from other local banks. A customized peer group of more than 60 banks in nearby markets provides statistically significant data to draw meaningful conclusions about local market conditions overall, not just a handful of competitors. Owned and operated by Kirk Briden, his Banker’s Caddy tracks 40 ratios to provide a comprehensive picture of capitalization, asset quality, earnings, liquidity, rate sensitivity, and growth. Five years of data make it easy to identify trends and distinguish the impact of the bank’s strategy from the influence of changing local market conditions. Overall performance report provides a composite comparison of the bank’s performance with other nearby banks. In its 2013 overall performance rankings of all Michigan Banks, Lapeer County Bank & Trust finished in the top 2 percent of the approximate 120 banks doing business in this state. Only two banks finished higher than LCBT. “This is an outstanding ranking, because what it means is that with a bank like this I can guess the regulators will probably give them a little more leeway to continue to do whatever they have been doing. They’ve shown they know how to run a bank,” said Briden, whose company has more than 200 clients in 44 states. “We’re very pleased with the Banker’s Caddy report. It affirms what we do every day here to make sure LCBT has the sufficient funds, policies and programs to deliver the best financial products to our customers,” said Bruce Cady, president and CEO of LCBT. The Banker’s Caddy report offered more good news to Cady, the board’s directors, its customers and the county in which the company is based. Briden is a bank executive with more than 20 years of industry experience. He launched Banker’s Caddy in recognition of a need for accurate and meaningful financial intelligence at the executive and director level in order to facilitate clear communication and effective strategic planning. Prior to Banker’s Caddy, Briden was the founder, president and CEO of Champion Bank in St. Louis, Mo. He also served as executive vice president of Commercial Banking for Montgomery Bank in St. Louis. LCBT finished 2013 with total assets of more than $312 million, a 3-percent increase over 2012. In the bank’s recently published 2013 Annual Report, Cady commented, “The weight of the global financial crisis began to slowly lift and the positive effects were felt by many of our customers. Our business customers reported higher levels of profitability. Our problem loan accounts decreased in both number and amount.” He continued, “Our loan delinquency rate was decreased which is one of the leading indicators of asset quality and is encouraging as we look to the future … In 2013, we expanded our residential mortgage origination operation by adding new lenders and products. Moving into the new year, we expect an increase in our home mortgage business.”
Posted on: Mon, 05 May 2014 19:55:35 +0000
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