August 8, 2012

Farmers Security Bank rated one....

By Michael Johnson, Editor

You’re probably thinking that a safe bank is one that would see Jesse James coming and lock down all assets. Or one that has the fewest amount of paper cuts among its employees. But there are actually far more complex ways of determining what a safe bank is, if you’re talking about the security of customers’ money, that is. With the failings and buyouts of big banks in recent years, it’s nice to know those banks that have a good record of handling their customers money. Recently, MSNBC gave a listing of the banks in America that had perfect scores using a Texas ratio to rate bank safety or security. A total of 359 had a perfect score of zero. Washburn Farmers Security Bank was one of those, which is something several customers have noticed after reading that MSNBC story. “It shows that we don’t do business like the bigger banks,” Executive Vice President of Farmers Security Bank Julie Broderick said. “But we still try to serve our community and our customers.” Looking over the banks, it is full of smaller banks, none of the large nationwide type banks are listed. Another interesting thing that Broderick noted is that North Dakota has some great representation on the list.


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