Annual rankings utilize Market Intelligence's
profitability and growth data and introduced a new category
highlighting banks by region
NEW
YORK, March 22, 2023 /PRNewswire/ -- S&P
Global Market Intelligence released its annual rankings for 2022's
best-performing community banks with assets between $3 billion and $10
billion, community banks with assets below $3 billion, top-performing credit unions and top
performing U.S. public banks. A new category was introduced this
year: top performing community banks by region for the Northeast,
South Central, Southeast, West, and Midwest.
S&P Global Market Intelligence launched the rankings in 2011
to assess the performance of community banks and credit unions. The
division ranks institutions based on returns, growth and efficiency
but places a premium on the strength and risk profile of balance
sheets.
"We're delighted to see these banks and credit unions continue
to serve their local markets as they weather swift increases in
interest rates and elevated inflation," said Nathan Stovall, director of financial
institutions research at S&P Global Market Intelligence.
"Quality data and insights continue to be a vital source for the
market especially during these volatile times, and we are committed
to providing transparency through these rankings to help the market
make informed decisions."
National Awards:
- Best Performing U.S. Public Bank with more than $10 billion in assets: East West Bancorp
Inc. secured the top ranking among public banks with more
than $10 billion in assets. The
Pasadena, California-based bank
rose 10 spots from the 2021 rankings and was clearly superior to
the industry median for five of the ranking metrics and
incrementally better for the net charge-off ratio.
- Best Performing U.S. Community Bank with between
$3 billion and $10 billion in assets: Roseville, California-based Five
Star Bank earned the top spot
among the best-performing community banks with assets between
$3 billion and $10 billion. Five Star
Bank outperformed the median for all 196 banks in the
analysis in all seven metrics analyzed.
- Best Performing U.S. Community Bank with under $3 billion in assets: Central Bank of
Kansas City topped the
list of the best-performing U.S. community banks under $3 billion in assets. Central Bank of
Kansas City outperformed the
majority of its peers in 2022, reporting a 21.2% surge in assets
and a 20.5% increase in noninterest income, year-over-year. Central
Bank of Kansas City also earned
the top ranking in the same category in 2019.
- Best Performing Credit Union: Springfield, Missouri-based Multipli CU
was this year's top performing credit union in, following a
second-place ranking in 2021. The credit union outperformed the
industry median in four of the five ranking metrics, while its
total loans and leases grew 27.9% year-over-year in 2022, compared
to the top-100 median of 17.9%.
Regional Awards:
- Best Performing Midwest Bank: Central Bank of Kansas City earned the top spot among
Midwest banks with under $10 billion
in assets. Central Bank of Kansas
City had $376.7 million in
assets at the end of the year, up 21.2% from 2021. In 2022, its
gross loans and leases climbed 4.6% on a year-over-year basis to
$219.0 million, and total deposits
increased 22.5% to $321.5
million.
- Best Performing Northeast Bank: Bedford,
New Hampshire-based Primary
Bank topped the list of the best-performing U.S. community
banks in the Northeast with under $10
billion in assets. The bank outperformed the top 50 median
in six of the seven metrics analyzed.
- Best Performing Southeast Bank: Douglas National Bank, a subsidiary of DNB
Financial Services Inc., received the highest overall performance
score among regional banks in the Southeast with under $10 billion in assets. The Georgia-based bank not only beat the top 50
median in five metrics, it also performed better in six metrics
when compared to the median of all 732 banks eligible for
ranking.
- Best Performing South Central Bank: Erick, Oklahoma-based First Bank topped
the list of best-performing U.S. community banks in the South
Central region with under $10 billion
in assets. First Bank has a total of $63.0
million in loans and leases and $88.6
million in deposits. The bank had a return on average
tangible common equity of 33.58% and an efficiency ratio of 41.70%
at the end of 2022.
- Best Performing West Bank: First General Bank topped the
list of the best-performing community banks in the West with assets
under $10 billion. The Rowland Heights, California bank posted an
above-average, optimal efficiency ratio of 23% and zero charge-offs
on its $934.5 million gross loans and
leases in 2022.
To access the full list of top performing U.S. public banks,
community banks and credit unions for 2022, click here.
To access the full list of top performing U.S. community banks
based on region for 2022, click here.
S&P Global Market Intelligence's opinions, quotes, and
credit-related and other analyses are statements of opinion as of
the date they are expressed and not statements of fact or
recommendation to purchase, hold, or sell any securities or to make
any investment decisions, and do not address the suitability of any
security.
S&P Global Market Intelligence disclosure policy can be
reviewed here.
About S&P Global Market Intelligence
At S&P Global Market Intelligence, we understand the
importance of accurate, deep and insightful information. Our team
of experts delivers unrivaled insights and leading data and
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conviction.
S&P Global Market Intelligence is a division of S&P
Global (NYSE: SPGI). S&P Global is the world's foremost
provider of credit ratings, benchmarks, analytics and workflow
solutions in the global capital, commodity and automotive markets.
With every one of our offerings, we help many of the world's
leading organizations navigate the economic landscape so they can
plan for tomorrow, today. For more information, visit
www.spglobal.com/marketintelligence.
Media Contact
Katherine Smith
S&P Global Market Intelligence
+1 781-301-9311
katherine.smith@spglobal.com
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SOURCE S&P Global