NEW YORK — The New York City-based bank has now earned this distinction for 8 consecutive quarters. Quontic Bank has earned a coveted 5-star rating from BauerFinancial, the nation’s premier independent bank rating firm.

A BauerFinancial 5-star rating indicates the bank excels in areas of capital adequacy, profitability, asset quality and historic trends, among other factors. The New York-based financial institution has earned and maintained a 5-star rating from Bauer for eight consecutive quarters.

“This 5-star rating is a testament to the work we do every day to ensure our continued financial strength while providing our customers with superior service,” said Steven Schnall, chairman and CEO of Quontic Bank.

“We are proud of this distinction.”

BauerFinancial has been independently reporting on and analyzing the performance of U.S. banks and credit unions since 1983. No financial institution can pay for or opt out of a Bauer rating.

“By earning Bauer’s highest 5-star rating, Quontic Bank proves to its customers and the community that it is committed to their needs and to financial discipline,” said Karen L. Dorway, president of BauerFinancial.

“As times change, so do customers’ needs. Community banks like Quontic Bank excel at finding ways to meet those ever-changing needs while maintaining discipline and prudent underwriting.”