“Bank of Cleveland’s conservative underwriting standards and knowledge of the local market has enabled us to be well positioned to respond to the economic changes faced by financial institutions in the last few years,” said Scott Taylor, president of Bank of Cleveland.
During the first half of the year, the Bank’s capital exceeded $33 million, an all time high in the bank’s 24-year history. Bank of Cleveland’s capital level is 2.5 times the level FDIC considers well capitalized.
As for the future, Taylor said, “Bank of Cleveland will continue to focus on credit quality, safety and soundness and efficiency of operation. These key components have played a vital role in our success and we will continue that focus throughout 2011.”
Bank of Cleveland opened its doors in May 1987 with the express goal of providing Bradley County the alternative of a true locally owned-and-operated community bank. Today, Bank of Cleveland is the largest and strongest locally owned-and-managed bank in Cleveland with five locations throughout Bradley County.