Community Corner
SIMSBURY BANK AWARDED TIER 1 RATING BY FREDDIE MAC
Simsbury Bank, one of Connecticut’s leading private banks and loan servicer, has earned, for the first time, a “Tier 1” rating from Freddie Mac Loan Servicing, its highest honor given. The “Tier 1” rating is reserved for mortgage loan companies who have achieved the highest standards of servicing quality.
“In the banking world, this accomplishment is like receiving the Good Housekeeping Seal of Approval!” said Martin Geitz, President and CEO of Simsbury Bank. “It is a testament to the hard work, dedication, commitment and persistence from within our staff here at Simsbury Bank, as well as the great partnership that has developed with Freddie Mac over time.”
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Simsbury Bank ranked number 123 out of 1,234 banks in the country that have received a Tier 1 rating. This rating is awarded to banks that receive 100% each quarter with servicing Freddie Mac Loans effectively, reporting accurate investor reporting, and remitting for the loans.
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Freddie Mac began the rating system for mortgages in 1996, with “Tier 1” the most prestigious. It is based on demonstrating not only exceptional efficiency, but also for remarkable performance in helping families with Freddi Mac-owned loans succeed as long-term home owners.
Simsbury Bank is an independent, publicly owned community bank for consumers and businesses based in Central Connecticut’s Farmington Valley. Simsbury Bank’s parent company is SBT Bancorp, Inc. whose stock is traded under the ticker symbol OTCBB: SBTB. The Bank serves customers locally through branches in Avon, Bloomfield, Granby and Simsbury and regionally through mortgage and commercial bankers active throughout Southern New England. Simsbury Bank customers enjoy internet banking and mortgage services at, respectively, www.simsburybank.com and www.simsburybank.com/mortgages. Bank customers have free ATM access at thousands of machines across the country through the SUM program. The Bank offers financial planning, investment and insurance products through LPL Financial and its affiliates, member FINRA/SIPC.
