Hey, big spenders, way to go: Our 2017 ranking of midtier banks

The top-performing banks in the $2 billion-to-$10 billion asset class are a diverse group made up of traditional commercial lenders, mortgage powerhouses, serial acquirers and fee generators. But one common characteristic is that they are unafraid to invest in their growth. This is especially striking given the pressure all banks are under to control expenses these days.

Last year the median spending increase for those in the top 20 was 10.92%, compared with 6.33% for all 238 banks that qualified for this ranking. Not coincidentally, the standouts generated stronger growth in both interest and noninterest income than the peer group and, despite higher overhead, had lower efficiency ratios. Most notably, their median return on equity — at 14.30% for 2016 — was a whopping 558 basis points higher than that of their peers.

ABM-053117-METRICS.png

Three newcomers — Stearns Financial in St. Cloud, Minn., Independence Bancshares in Owensboro, Ky., and Sterling Bancorp in Southfield, Mich. — topped the ranking, which is based on return on average equity across three years. They are among 22 banks appearing here for the first time after having crossed the $2 billion-asset threshold in 2016.

Stearns is one of 11 banks in the top 20 whose year-over-year spending increased by more than double digits. It has a niche in equipment finance and other specialty lending, and continued investment in those business lines helped it achieve loan yields and a net interest margin that are far superior to those of its peers.

“Those that invest wisely in the businesses that best support revenue growth are the ones that are able to improve profitability over time,” said Kevin Halsey, a Capital Performance Group consultant who compiled the data for this annual ranking. (Click on “view table” at the end of this article to see the ranking for this year and click on the links below to go to midtier rankings from past years.)

See rankings from past years:

Apart from their willingness to spend money, the top-performing banks do not have much else in common, Halsey said.

Some are what Halsey calls “fee-income superstars,” like Woodforest Financial Group in The Woodlands, Texas, and State Bancshares in Fargo, N.D.

Woodforest, which has more than 700 branches in Wal-Mart stores throughout the country, generates much of its income from ATM fees and deposit service charges, such as monthly maintenance fees and overdraft fees. Its ratio of fee income to average assets was 9.6% last year, by far the highest of any bank in the rankings. State Bancshares’ 5.30% was next highest, plumped up by fees generated from the sale of mortgages.

Other standouts include ServisFirst Bancshares in Birmingham, Ala., which has succeeded largely by hiring successful teams of bankers away from competitors, and Watford City Bancshsares in North Dakota, a commercial lender that, outside of Stearns, had the highest ratio of interest income to total assets in the group.

Then there’s Hingham Institute for Savings, which can actually point to expense control as its secret to success. A newcomer to the ranking for banks in this size range, it enjoyed strong loan and deposit growth last year. But the metrics where the Massachusetts bank really stood out were its ratio of noninterest expenses to assets — a rock-bottom 1%, compared with a median of 2.66% for the top 20 overall — and an efficiency ratio in the low 30s.

“As you can see, there are many ways to be a top performer,” said Halsey, who also wrote this BankThink about some effective strategies banks at the top of our annual rankings have used.

View Table
Printer Friendly Version
Hey, big spenders, way to go: Our 2017 ranking of midtier banks

Banks and Thrifts with $2 Billion to $10 Billion of Assets

Rank Institution Name Location Total Assets ($000) 3-Year Avg. ROAE (%) ROAE (%) ROAA (%) Efficiency Ratio (FTE) (%) Net Interest Margin (FTE) (%) Net Income ($000) Change in Net Income, YOY (%) Net Loan Growth, YOY (%) Core Deposit Growth, YOY (%)
1 Stearns Financial Services* Saint Cloud, MN 2,045,635 24.93 18.54 2.59 39.94 7.07 51,852 -38.35 3.82 6.92
2 Independence Bancshares* Owensboro, KY 2,006,098 19.29 17.39 1.22 58.11 3.95 28,362 -6.12 7.72 11.62
3 Sterling Bancorp Southfield, MI 2,164,369 18.98 22.86 1.80 31.70 4.10 34,417 49.15 25.91 48.30
4 Watford City Bancshares* Watford City, ND 2,263,118 18.30 11.08 0.77 68.09 4.39 23,291 -40.05 6.94 0.41
5 State Bankshares Fargo, ND 4,289,053 17.03 17.84 1.65 67.23 3.89 65,094 78.81 10.78 19.71
6 Hingham Institution for Savings (HIFS) Hingham, MA 2,014,599 16.57 15.59 1.22 32.09 3.10 23,423 21.07 14.24 17.60
7 Woodforest Financial Group* The Woodlands, TX 4,914,172 15.65 13.51 1.12 86.07 2.88 78,343 0.19 15.74 5.90
8 ServisFirst Bancshares (SFBS) Birmingham, AL 6,370,448 15.25 16.64 1.42 38.82 3.42 81,479 28.23 16.34 31.47
9 Union Savings Bank* Cincinnati, OH 2,925,022 14.19 16.34 1.57 49.91 2.80 65,432 16.36 10.53 7.02
10 Alpine Banks of Colorado Glenwood Springs, CO 3,057,174 14.13 14.89 1.16 64.21 4.30 33,419 20.97 14.85 14.68
11 Stock Yards Bancorp (SYBT) Louisville, KY 3,039,481 13.74 13.49 1.42 57.71 3.59 41,027 10.33 13.25 7.91
12 FB Financial Corp.* (FBK) Nashville, TN 3,276,881 13.72 14.51 1.36 73.53 4.10 40,591 -15.18 19.68 7.70
13 Landrum Co. Columbia, MO 2,568,898 13.69 13.07 0.90 67.10 3.90 22,602 17.56 6.69 7.24
14 Fremont Bancorp.* Fremont, CA 3,671,887 13.35 16.47 1.13 71.35 3.60 56,488 35.35 11.58 19.71
15 First Financial Bankshares (FFIN) Abilene, TX 6,809,931 13.32 12.36 1.59 49.12 4.08 104,774 4.38 0.90 8.76
16 Inwood Bancshares* Dallas, TX 2,387,860 13.23 13.43 1.20 47.90 3.34 41,926 6.12 2.95 9.23
17 Heartland Bancorp* Bloomington, IL 2,971,569 13.14 12.87 1.27 55.68 4.17 52,565 7.97 -1.04 5.13
18 Home BancShares (HOMB) Conway, AR 9,808,465 13.06 14.08 1.85 36.43 4.81 177,146 28.18 11.19 12.82
19 Amboy Bancorp.* Old Bridge, NJ 2,440,961 12.87 9.85 0.94 57.32 3.44 31,749 49.24 9.86 5.05
20 City Holding Co. (CHCO) Cross Lanes, WV 3,984,403 12.83 12.09 1.36 54.40 3.50 52,128 -3.64 6.44 5.99
21 USAmeriBancorp (USAB) Clearwater, FL 4,153,283 12.71 14.22 1.12 53.27 3.55 43,371 24.18 14.46 21.64
22 INTRUST Financial Corp. Wichita, KS 4,651,918 12.66 14.71 0.84 65.09 2.68 57,671 18.73 10.13 9.11
23 Lakeland Financial Corp. (LKFN) Warsaw, IN 4,290,025 12.52 12.52 1.29 47.46 3.18 52,084 12.33 12.91 10.44
24 Fidelity Southern Corp. (LION) Atlanta, GA 4,389,685 12.51 11.61 0.92 72.48 3.32 38,766 -0.94 14.36 17.76
25 First Bancshares Merrillville, IN 3,486,109 12.45 12.41 1.07 59.26 3.50 35,192 11.17 12.11 18.61
26 First Security Bancorp Searcy, AR 5,386,271 12.29 10.52 2.01 40.84 4.92 102,232 -3.38 6.41 7.83
27 Canandaigua National Corp. (CNND) Canandaigua, NY 2,476,109 12.28 11.95 0.95 65.28 3.50 22,493 7.16 5.95 14.83
28 United Community Bancorp Chatham, IL 2,209,980 12.27 10.47 0.95 59.60 3.25 24,375 -15.03 22.22 29.39
29 German American Bancorp (GABC) Jasper, IN 2,955,994 12.21 10.94 1.24 55.01 3.75 35,184 17.03 27.54 29.87
30 Exchange Bank (EXSR) Santa Rosa, CA 2,179,401 11.98 11.89 1.04 63.79 3.56 21,502 2.25 11.89 8.00
31 Washington Trust Bancorp (WASH) Westerly, RI 4,381,115 11.95 11.96 1.16 55.79 3.02 46,481 6.94 7.05 0.09
32 Preferred Bank (PFBC) Los Angeles, CA 3,221,598 11.87 12.77 1.27 38.75 3.72 36,369 22.28 23.68 22.51
33 Eagle Bancorp (EGBN) Bethesda, MD 6,890,096 11.85 12.27 1.52 39.63 4.19 97,707 16.09 13.56 12.40
34 Arrow Financial Corp. (AROW) Glens Falls, NY 2,605,242 11.81 11.79 1.06 57.43 3.15 26,534 7.59 11.45 4.16
35 Park National Corp. (PRK) Newark, OH 7,467,586 11.81 11.68 1.16 60.43 3.52 86,135 6.32 4.18 8.55
36 Hometown Community Bancorp Morton, IL 3,315,580 11.44 10.78 0.97 51.83 3.12 44,743 4.30 12.53 6.75
37 Durant Bancorp Durant, OK 5,810,900 11.32 12.28 1.07 69.35 3.91 57,004 33.41 97.66 99.24
38 Hanmi Financial Corp. (HAFC) Los Angeles, CA 4,701,346 11.29 10.89 1.29 56.50 3.95 56,489 4.95 21.58 23.91
39 Farmers & Merchants Bancorp (FMCB) Lodi, CA 2,922,121 11.27 11.17 1.12 57.55 3.89 29,723 8.51 8.94 11.96
40 Westamerica Bancorp. (WABC) San Rafael, CA 5,366,083 11.25 10.85 1.12 51.51 3.24 58,853 0.17 -11.76 4.60
41 Stockman Financial Corp. Miles City, MT 3,240,562 11.24 8.34 1.22 52.59 3.59 59,144 2.60 11.72 13.21
42 CNB Financial Corp. (CCNE) Clearfield, PA 2,573,821 11.23 9.69 0.85 61.52 3.71 20,540 -7.46 19.35 10.97
43 CVB Financial Corp. (CVBF) Ontario, CA 8,073,707 11.21 10.26 1.26 43.47 3.46 101,429 2.30 9.49 13.83
44 Century Bancorp (CNBKA) Medford, MA 4,462,608 11.21 10.80 0.57 62.78 2.12 24,534 6.57 11.18 22.05
45 Enterprise Financial Services (EFSC) Clayton, MO 4,081,328 11.21 13.14 1.29 49.86 3.84 48,837 27.01 12.04 15.66
46 Tompkins Financial Corp. (TMP) Ithaca, NY 6,236,756 11.06 10.87 1.01 61.82 3.33 59,471 1.57 12.89 6.05
47 Customers Bancorp (CUBI) Wyomissing, PA 9,382,736 11.06 11.29 0.86 43.80 2.84 78,702 34.34 13.98 25.52
48 Pinnacle Bancorp Omaha, NE 9,702,396 11.02 11.32 1.18 55.57 3.58 164,028 12.33 7.58 6.25
49 Wilson Bank Holding Co. (WBHC) Lebanon, TN 2,198,051 10.97 10.80 1.21 58.33 3.80 25,633 7.42 15.73 12.65
50 Hills Bancorp. (HBIA) Hills, IA 2,655,770 10.96 11.26 1.23 54.33 3.39 31,555 11.04 7.44 11.43
51 Flushing Financial Corp. (FFIC) Uniondale, NY 6,058,487 10.94 13.07 1.10 61.24 2.97 64,916 40.48 10.24 13.83
52 First State Bancshares Farmington, MO 2,126,423 10.92 11.26 1.15 65.51 3.85 23,578 18.45 8.87 2.55
53 Glacier Bancorp (GBCI) Kalispell, MT 9,450,600 10.91 10.79 1.32 54.38 4.02 121,131 4.31 12.43 8.55
54 Dime Community (DCOM) Brooklyn, NY 6,005,430 10.88 13.40 1.31 47.96 2.68 72,514 61.96 20.04 43.59
55 WSFS Financial Corp. (WSFS) Wilmington, DE 6,765,270 10.83 10.03 1.06 59.75 3.82 64,080 19.70 18.55 21.78
56 Great Southern Bancorp (GSBC) Springfield, MO 4,550,663 10.78 10.93 1.04 59.80 4.05 45,342 -2.49 12.63 10.68
57 Ameris Bancorp (ABCB) Moultrie, GA 6,892,031 10.76 11.75 1.17 59.93 3.99 72,100 76.51 33.69 14.27
58 Fishback Financial Corp. Brookings, SD 2,211,620 10.75 10.15 1.22 59.97 4.37 25,229 1.54 5.94 10.74
59 Cardinal Financial Corp. (CFNL) McLean, VA 4,210,514 10.66 11.40 1.23 56.45 3.33 50,491 6.67 4.07 8.15
60 TrustCo Bank Corp NY (TRST) Glenville, NY 4,868,806 10.63 9.94 0.89 55.66 3.11 42,601 0.86 4.25 1.47
61 First American Bank Corp. Elk Grove Village, IL 3,789,823 10.57 11.64 0.89 67.19 2.77 39,888 35.68 4.26 5.99
62 Institution for Savings Newburyport, MA 2,810,535 10.57 9.78 0.98 72.26 2.20 26,283 11.97 14.42 13.45
63 Franklin Financial Network (FSB) Franklin, TN 2,943,189 10.55 13.50 1.10 52.04 3.42 28,057 74.48 36.32 46.01
64 BancFirst Corp. (BANF) Oklahoma City, OK 7,018,952 10.55 10.34 1.05 60.84 3.26 70,674 6.81 3.73 6.04
65 Anchor Bancorp Saint Paul, MN 2,024,797 10.51 10.34 0.89 60.78 3.63 17,416 30.92 7.02 6.08
66 First of Long Island Corp. (FLIC) Glen Head, NY 3,510,320 10.50 10.62 0.93 49.83 2.89 30,880 19.27 13.25 17.94
67 Longview Financial Corp. Longview, TX 2,293,613 10.33 10.68 1.09 56.92 3.55 24,615 15.22 8.46 5.01
68 Heartland Financial USA (HTLF) Dubuque, IA 8,247,079 10.28 11.52 0.98 66.73 4.10 80,349 33.82 6.59 13.41
69 CoBiz Financial Inc. (COBZ) Denver, CO 3,630,313 10.25 12.15 1.02 67.45 3.73 34,899 33.87 9.11 11.17
70 American National Corp. Omaha, NE 3,312,790 10.24 9.08 0.90 60.50 3.86 37,835 -0.71 17.84 11.00
71 Financial Institutions (FISI) Warsaw, NY 3,710,340 10.20 10.01 0.90 59.05 3.24 31,931 12.68 12.25 9.52
72 Boston Private Financial (BPFH) Boston, MA 7,970,474 10.13 9.85 1.00 67.47 2.93 75,785 9.31 6.92 0.98
73 ANB Corp. Terrell, TX 2,815,268 10.06 12.04 0.97 64.87 3.66 25,996 25.28 5.53 4.58
74 Alerus Financial Corp. (ALRS) Grand Forks, ND 2,050,269 10.00 8.21 0.72 77.33 3.59 14,031 -17.99 19.43 24.42
75 W.T.B. Financial Corp. (WTBFB) Spokane, WA 5,668,953 9.99 10.52 0.98 64.41 3.53 51,727 11.58 6.56 10.34
76 QCR Holdings (QCRH) Moline, IL 3,301,944 9.94 10.56 0.97 61.43 3.75 27,687 63.56 34.02 44.73
77 Triumph Bancorp (TBK) Dallas, TX 2,641,067 9.84 7.33 1.00 66.13 5.91 20,700 -28.95 57.12 82.80
78 Community Trust Bancorp (CTBI) Pikeville, KY 3,932,169 9.83 9.58 1.21 56.88 3.70 47,346 1.97 2.28 4.27
79 Burke & Herbert (BHRB) Alexandria, VA 2,960,429 9.80 8.38 0.98 70.37 3.56 27,193 -11.93 15.55 2.40
80 Bank of Marin Bancorp (BMRC) Novato, CA 2,023,493 9.79 10.23 1.15 56.03 3.97 23,134 25.45 2.43 3.48
81 Educational Services of America Farragut, TN 3,198,585 9.72 6.65 0.68 72.27 2.43 23,346 -23.00 -8.33 57.47
82 First Interstate BancSystem (FIBK) Billings, MT 9,063,895 9.72 9.93 1.10 61.22 3.57 95,636 10.19 4.51 6.15
83 Merchants Bancshares (MBVT) South Burlington, VT 2,062,658 9.71 9.61 0.76 62.67 3.04 14,883 17.95 7.08 2.42
84 South Plains Financial Lubbock, TX 2,500,813 9.67 10.03 0.77 78.25 3.58 26,076 13.71 -1.93 -1.99
85 First Financial Bancorp. (FFBC) Cincinnati, OH 8,437,967 9.58 10.48 1.07 58.31 3.68 88,526 17.94 6.65 9.02
86 First Defiance Financial Corp. (FDEF) Defiance, OH 2,477,597 9.47 10.10 1.20 60.87 3.73 28,843 9.16 7.96 9.94
87 Camden National Corp. (CAC) Camden, ME 3,864,230 9.46 10.47 1.04 56.69 3.32 40,067 91.23 4.29 6.90
88 Amarillo National Bancorp Amarillo, TX 3,931,955 9.42 6.45 0.85 50.35 3.54 48,550 -28.60 1.99 1.79
89 TriCo Bancshares (TCBK) Chico, CA 4,517,968 9.39 9.46 1.02 65.87 4.23 44,811 2.27 9.69 8.18
90 RCB Holding Co. Claremore, OK 2,789,509 9.30 8.65 0.86 63.40 3.43 30,233 -0.75 16.70 15.09
91 Independent Bank Corp. (INDB) Rockland, MA 7,709,375 9.29 9.43 1.04 58.96 3.40 76,648 17.99 8.12 8.62
92 Nicolet Bankshares (NCBS) Green Bay, WI 2,300,879 9.28 8.26 0.97 59.75 4.06 18,694 61.78 79.47 96.25
93 First Mid-Illinois Bancshares (FMBH) Mattoon, IL 2,884,535 9.28 9.24 0.94 58.68 3.40 21,840 32.27 42.76 32.75
94 Sturm Financial Group Denver, CO 2,662,298 9.28 10.83 0.72 69.64 3.31 26,361 7.66 14.28 10.53
95 Enterprise Bancorp (EBTC) Lowell, MA 2,526,269 9.28 9.33 0.78 67.93 3.93 18,751 16.12 8.75 17.09
96 Pacific Premier Bancorp (PPBI) Irvine, CA 4,036,311 9.15 9.37 1.11 53.65 4.48 40,103 57.17 43.75 53.65
97 Farmers & Merchants Lincoln, NE 3,646,580 9.14 9.79 1.01 63.60 3.21 35,881 21.43 6.96 8.88
98 BNC Bancorp (BNCN) High Point, NC 7,401,691 9.14 8.81 1.00 51.74 3.87 62,913 41.54 29.81 44.94
99 1st Source Corp. (SRCE) South Bend, IN 5,486,268 9.13 8.71 1.08 63.13 3.43 57,786 0.52 5.08 9.34
100 Suffolk Bancorp Riverhead, NY 2,092,291 9.13 9.54 0.90 62.30 3.77 19,831 12.12 0.55 5.49
101 S&T Bancorp (STBA) Indiana, PA 6,943,053 9.11 8.67 1.08 54.08 3.47 71,392 6.43 10.92 10.78
102 HomeStreet (HMST) Seattle, WA 6,243,700 9.10 10.27 1.01 80.26 3.45 58,151 40.74 17.97 33.39
103 MainSource Financial (MSFG) Greensburg, IN 4,080,257 9.10 8.93 1.01 61.48 3.65 38,323 7.82 23.39 15.20
104 Horizon Bancorp (HBNC) Michigan City, IN 3,141,156 9.07 7.90 0.81 64.78 3.34 23,912 16.37 22.19 31.83
105 Community Bank System (CBU) De Witt, NY 8,666,437 9.03 8.57 1.20 59.21 3.71 103,812 13.79 3.09 5.01
106 First Merchants Corp. (FRME) Muncie, IN 7,211,611 8.92 9.16 1.17 56.00 3.88 81,051 23.96 9.38 8.15
107 Dacotah Banks (DBIN) Aberdeen, SD 2,297,173 8.90 9.12 1.02 62.08 3.98 22,969 8.12 5.23 1.37
108 Meta Financial Group (CASH) Sioux Falls, SD 4,213,329 8.89 9.30 0.94 71.70 2.63 30,406 64.20 50.35 24.79
109 Oritani Financial Corp. (ORIT) Township of Washington, NJ 4,012,169 8.89 8.30 1.20 40.23 2.93 44,363 -18.94 16.20 26.02
110 South State Corp. (SSB) Columbia, SC 8,900,592 8.88 9.17 1.16 60.14 4.18 101,282 1.82 11.35 7.55
111 Guaranty Bancorp (GBNK) Denver, CO 3,366,427 8.83 9.35 0.93 57.96 3.68 24,727 10.12 39.32 51.25
112 Sierra Bancorp (BSRR) Porterville, CA 2,032,873 8.82 8.71 0.95 64.42 3.95 17,567 -2.77 11.66 17.24
113 Community Bank (CYHT) Pasadena, CA 3,584,959 8.82 8.07 0.74 61.94 3.33 26,823 -3.39 2.83 5.69
114 MidWestOne Financial Group (MOFG) Iowa City, IA 3,079,575 8.82 6.69 0.68 63.03 3.80 20,391 -18.82 0.55 0.84
115 WashingtonFirst Bankshares (WFBI) Reston, VA 2,002,911 8.78 9.50 1.00 62.70 3.52 18,007 46.94 16.57 11.65
116 NBT Bancorp Inc. (NBTB) Norwich, NY 8,867,268 8.76 8.74 0.92 60.08 3.43 78,409 2.60 5.37 7.11
117 LegacyTexas Financial Group (LTXB) Plano, TX 8,362,255 8.75 11.52 1.24 47.50 3.77 97,821 37.94 16.30 19.05
118 First Busey Corp. (BUSE) Champaign, IL 5,425,170 8.74 9.59 1.00 56.81 3.42 49,694 27.40 57.84 26.76
119 Heritage Commerce Corp (HTBK) San Jose, CA 2,570,880 8.73 10.71 1.13 55.02 4.12 27,381 65.98 10.55 12.07
120 Pacific Continental Corp. (PCBK) Eugene, OR 2,541,437 8.68 8.23 0.92 54.57 4.25 19,776 5.47 32.31 35.05
121 Happy Bancshares Canyon, TX 3,135,824 8.62 9.48 0.96 69.79 3.91 28,004 13.56 4.08 16.66
122 Bryn Mawr Bank Corp. (BMTC) Bryn Mawr, PA 3,421,530 8.60 9.75 1.16 60.94 3.76 36,036 115.09 11.73 10.83
123 First Foundation Inc. (FFWM) Irvine, CA 3,975,403 8.57 8.44 0.81 64.58 3.13 23,303 74.19 59.06 70.54
124 Lakeland Bancorp (LBAI) Oak Ridge, NJ 5,093,131 8.50 8.75 0.90 57.03 3.41 41,518 27.82 30.85 33.77
125 Bridge Bancorp (BDGE) Bridgehampton, NY 4,054,570 8.50 9.82 0.92 54.71 3.46 35,491 68.12 7.72 6.61
126 Sandy Spring Bancorp (SASR) Olney, MD 5,091,383 8.43 9.15 1.02 59.85 3.49 48,250 6.38 12.31 8.57
127 Stonegate Bank (SGBK) Pompano Beach, FL 2,901,602 8.40 9.31 1.13 50.78 3.94 28,935 15.01 22.65 22.58
128 First Financial Corp. (THFF) Terre Haute, IN 2,988,527 8.36 9.26 1.30 61.72 4.04 38,413 27.21 4.39 1.25
129 Central Pacific Financial (CPF) Honolulu, HI 5,384,236 8.28 9.16 0.90 64.02 3.27 46,992 2.39 10.68 4.44
130 Broadway Bancshares San Antonio, TX 3,545,887 8.26 7.96 0.91 65.08 3.60 35,304 -3.46 9.76 6.92
131 Peapack-Gladstone Financial (PGC) Bedminster, NJ 3,878,633 8.20 8.92 0.72 59.44 2.74 26,477 32.57 10.45 18.85
132 Simmons First National (SFNC) Pine Bluff, AR 8,400,056 8.19 8.74 1.25 57.55 4.19 96,814 30.19 14.36 14.31
133 Independent Bank Corp. (IBCP) Grand Rapids, MI 2,548,950 8.18 9.21 0.92 71.20 3.52 22,766 13.73 6.82 4.90
134 Renasant Corp. (RNST) Tupelo, MS 8,699,851 8.17 8.15 1.08 62.20 4.22 90,930 33.69 13.25 15.14
135 Mercantile Bank Corp. (MBWM) Grand Rapids, MI 3,082,571 8.15 9.35 1.07 59.96 3.86 31,913 18.11 4.36 7.15
136 OceanFirst Financial Corp. (OCFC) Toms River, NJ 5,167,052 8.06 6.08 0.62 60.70 3.46 23,046 13.40 92.81 113.13
137 Old Second Bancorp (OSBC) Aurora, IL 2,251,188 7.96 9.43 0.73 66.91 3.31 15,684 1.94 30.99 8.37
138 Farmers & Merchants Bank (FMBL) Long Beach, CA 6,729,058 7.94 8.08 1.12 60.39 3.51 71,508 10.10 5.87 10.77
139 WesBanco (WSBC) Wheeling, WV 9,790,877 7.90 7.13 0.97 56.01 3.32 86,635 7.27 23.67 23.05
140 Columbia Banking System (COLB) Tacoma, WA 9,509,607 7.85 8.26 1.13 58.46 4.12 104,866 6.11 6.92 9.64
141 Commerce Bancshares Corp. Worcester, MA 2,238,060 7.84 7.81 0.67 57.56 2.98 12,525 15.48 5.22 15.27
142 Central Bancshares Lexington, KY 2,298,676 7.76 7.35 0.76 76.83 3.73 17,006 -0.77 6.60 8.46
143 Community Bancshares Brandon, MS 2,820,237 7.73 7.78 0.69 71.49 3.86 19,236 12.49 5.93 11.49
144 TowneBank (TOWN) Portsmouth, VA 7,973,915 7.69 7.49 1.00 62.50 3.50 72,215 9.97 32.64 26.27
145 1867 Western Financial (WFCL) Stockton, CA 2,872,014 7.67 8.38 1.32 56.51 3.81 33,920 11.42 6.52 10.41
146 First National Bank Alaska (FBAK) Anchorage, AK 3,609,848 7.67 8.38 1.15 55.24 3.55 41,392 14.58 8.17 2.01
147 Brookline Bancorp (BRKL) Boston, MA 6,438,129 7.66 7.94 0.88 56.22 3.44 55,224 5.45 8.20 10.80
148 Fidelity Financial Corp. Wichita, KS 2,012,174 7.64 8.55 0.69 70.70 3.06 16,108 17.69 11.77 12.44
149 First Texas BHC Fort Worth, TX 2,129,366 7.64 8.52 1.00 62.23 3.82 18,619 22.40 20.16 25.65
150 Grandpoint Capital (GPNC) Los Angeles, CA 3,326,936 7.64 8.89 1.03 51.77 3.71 33,186 11.57 3.60 1.40
151 Luther Burbank Corp. Santa Rosa, CA 5,064,500 7.46 8.99 0.75 59.72 2.11 52,121 47.27 16.02 23.64
152 BancPlus Corp. Ridgeland, MS 2,706,565 7.40 6.36 0.63 75.92 3.66 16,839 -20.98 16.18 6.65
153 CBFH Beaumont, TX 2,952,215 7.34 7.79 0.95 61.93 3.91 27,208 12.73 3.00 1.92
154 Independent Bank Group (IBTX) McKinney, TX 5,852,801 7.32 8.42 0.98 53.31 3.81 53,540 38.04 14.49 16.89
155 First Community Bancshares (FCBC) Bluefield, VA 2,386,398 7.30 7.42 1.02 61.04 4.01 25,126 2.39 8.82 -0.04
156 Carter Bank & Trust (CARE) Martinsville, VA 4,505,529 7.29 3.67 0.33 58.75 2.24 15,979 -59.19 3.27 -2.64
157 Heritage Financial Corp. (HFWA) Olympia, WA 3,878,981 7.23 8.01 1.04 64.19 3.92 38,918 3.81 10.14 6.71
158 Banner Corp. (BANR) Walla Walla, WA 9,793,668 7.19 6.41 0.87 66.59 4.20 85,385 88.81 4.54 5.59
159 CU Bancorp (CUNB) Los Angeles, CA 2,994,760 7.18 8.43 0.96 54.67 3.72 27,457 29.29 11.74 15.69
160 West Suburban Bancorp (WNRP) Lombard, IL 2,244,293 7.13 6.35 0.60 71.36 2.88 13,229 -10.03 -1.81 5.35
161 First Bancorp (FBNC) Southern Pines, NC 3,614,862 7.11 7.63 0.80 69.39 4.03 27,509 1.76 7.79 8.25
162 Columbia Bank MHC Fair Lawn, NJ 5,119,893 7.07 7.88 0.70 63.96 2.77 34,964 14.18 6.81 9.57
163 First Commonwealth Financial (FCF) Indiana, PA 6,684,018 7.06 8.02 0.89 58.53 3.32 59,590 18.84 4.26 21.20
164 ConnectOne Bancorp (CNOB) Englewood Cliffs, NJ 4,426,348 7.03 6.30 0.73 41.73 3.38 31,082 -24.76 14.83 17.85
165 Equity Bancshares (EQBK) Wichita, KS 2,192,192 7.01 5.55 0.55 64.73 3.35 9,374 -8.99 44.21 38.33
166 Provident Financial Services (PFS) Iselin, NJ 9,500,465 7.00 7.12 0.95 57.59 3.09 87,802 4.87 7.19 13.81
167 Salem Five Bancorp Salem, MA 4,119,458 6.98 7.19 0.78 63.58 2.85 30,640 14.82 10.62 16.59
168 State Bank Financial Corp. (STBZ) Atlanta, GA 4,224,859 6.96 8.63 1.34 58.90 4.68 47,591 67.44 29.92 18.20
169 NEB Corp. Fond du Lac, WI 2,007,394 6.94 6.41 1.27 46.73 3.65 24,091 -6.80 -0.55 15.61
170 Parkway Bancorp Harwood Heights, IL 2,489,702 6.89 8.12 0.74 56.05 2.96 17,904 13.32 1.69 -1.98
171 Heritage Oaks Bancorp Paso Robles, CA 2,024,890 6.81 7.97 0.87 63.15 3.68 16,933 10.32 11.20 9.09
172 Southwest Bancorp (OKSB) Stillwater, OK 2,475,392 6.74 6.18 0.74 64.59 3.46 17,704 1.71 5.49 -0.74
173 FCB Financial Holdings (FCB) Weston, FL 9,090,134 6.63 10.80 1.23 43.68 3.56 99,916 87.14 28.08 42.48
174 Bangor Bancorp Bangor, ME 3,633,393 6.62 6.64 0.72 73.47 3.09 24,826 10.19 7.44 13.91
175 Union Bankshares Corp. (UBSH) Richmond, VA 8,426,793 6.62 7.79 0.96 61.99 3.80 77,476 15.50 11.16 8.51
176 Univest Corp. of Pa. (UVSP) Souderton, PA 4,230,528 6.60 4.46 0.56 69.50 3.82 19,505 -28.47 51.16 35.64
177 Ocean Bankshares Miami, FL 3,408,278 6.57 6.22 0.67 74.65 3.87 22,687 27.31 12.32 0.29
178 CenterState Banks (CSFL) Winter Haven, FL 5,078,559 6.54 7.96 0.87 56.71 4.20 42,341 7.63 32.33 29.16
179 Yadkin Financial Corp. Raleigh, NC 7,215,630 6.50 5.93 0.80 52.90 3.95 55,168 23.62 67.70 70.10
180 Hometown Financial Group Easthampton, MA 2,028,162 6.39 6.85 0.71 63.98 3.46 12,803 40.58 53.03 56.37
181 Cambridge Financial Group Cambridge, MA 3,415,490 6.33 7.01 0.67 65.79 3.08 22,209 24.26 9.95 0.51
182 Republic Bancorp (RBCAA) Louisville, KY 4,816,309 6.32 7.68 1.02 59.74 3.65 45,903 30.53 14.81 30.16
183 El Dorado Savings Bank Placerville, CA 2,111,141 6.31 6.36 0.63 62.43 2.22 12,982 7.79 8.64 7.51
184 New York Private New York, NY 6,438,580 6.19 3.74 0.50 74.67 3.72 33,023 -58.79 7.65 -21.43
185 Sabadell United Bank Miami, FL 5,789,346 6.19 8.08 0.88 54.99 3.05 48,513 38.89 12.36 6.41
186 PeoplesBancorp Holyoke, MA 2,057,358 6.15 6.53 0.63 77.77 2.89 12,773 24.36 9.62 -3.82
187 Cape Cod Five Mutual Co. Orleans, MA 3,117,352 5.97 7.25 0.66 72.63 3.07 19,638 38.16 7.90 4.00
188 Berkshire Hills Bancorp (BHLB) Pittsfield, MA 9,162,542 5.82 6.44 0.74 60.91 3.27 58,670 18.48 16.27 19.02
189 Discount Bancorp New York, NY 9,272,477 5.64 6.82 0.65 52.15 2.37 60,129 0.12 4.86 -3.87
190 Capitol Federal Financial (CFFN) Topeka, KS 9,139,510 5.55 5.96 0.74 43.19 1.75 83,354 6.40 6.10 4.15
191 Middlesex Bancorp Natick, MA 4,521,734 5.50 5.19 0.64 66.04 2.77 28,472 -0.25 3.77 7.45
192 Liberty Bank Middletown, CT 4,566,523 5.44 6.27 0.90 74.87 3.21 39,374 44.26 17.52 15.13
193 Dickinson Financial Corp. Kansas City, MO 2,159,237 5.44 4.31 0.88 81.86 3.16 18,411 -22.05 23.18 4.49
194 Park Sterling Corp. (PSTB) Charlotte, NC 3,255,395 5.44 5.62 0.63 64.13 3.66 19,948 20.13 38.58 25.54
195 Bank Mutual Corp. (BKMU) Milwaukee, WI 2,648,524 5.38 5.93 0.66 69.24 3.05 16,954 19.59 11.79 7.21
196 Peoples Bancorp Inc. (PEBO) Marietta, OH 3,432,348 5.35 7.20 0.94 64.77 3.55 31,157 184.77 7.43 1.45
197 Union Savings Bank Danbury, CT 2,205,675 5.35 5.49 0.55 75.21 3.20 12,318 2.32 0.25 4.83
198 Johnson Financial Group Racine, WI 4,513,958 5.31 5.41 0.65 78.84 3.25 28,794 16.44 6.23 9.88
199 BSB Bancorp (BLMT) Belmont, MA 2,158,704 5.29 7.78 0.61 56.58 2.49 11,981 73.29 21.47 12.02
200 Seacoast Banking Corp. (SBCF) Stuart, FL 4,680,932 5.28 7.06 0.69 65.34 3.64 29,202 31.89 32.86 24.13
201 Mutual of Omaha Bank Omaha, NE 7,602,676 5.28 5.37 0.56 72.78 3.25 42,184 -1.05 12.11 0.70
202 Meridian Bancorp (EBSB) Peabody, MA 4,436,002 5.22 5.77 0.87 55.73 3.34 34,190 38.94 27.96 26.67
203 Dollar Bank Pittsburgh, PA 7,621,000 5.19 5.32 0.59 71.06 2.86 43,788 4.63 7.19 3.82
204 OFG Bancorp (OFG) San Juan, PR 6,501,824 5.17 6.49 0.88 58.59 4.90 59,186 NM -6.46 3.03
205 Northwest Bancshares (NWBI) Warren, PA 9,623,640 5.15 4.28 0.55 62.72 3.73 49,667 -17.96 4.71 31.93
206 Capital Bank Financial (CBF) Charlotte, NC 9,930,657 5.14 5.46 0.73 57.26 3.63 58,164 6.29 31.77 39.65
207 Valley View Bancshares Overland Park, KS 3,143,088 5.14 5.44 0.92 57.91 3.24 29,882 5.25 2.31 5.63
208 Origin Bancorp Ruston, LA 4,072,217 5.12 3.11 0.33 69.12 3.32 12,850 -55.81 2.85 4.08
209 Carlile Bancshares Fort Worth, TX 2,206,223 5.11 5.53 0.92 69.25 4.18 20,905 -3.49 4.07 -1.79
210 Eastern Bank Corp. Boston, MA 9,803,122 5.06 5.06 0.63 77.56 3.35 62,714 0.24 7.71 2.27
211 First Connecticut Bancorp (FBNK) Farmington, CT 2,837,555 5.05 5.98 0.55 70.29 2.80 15,215 20.96 7.57 12.95
212 Firstrust Savings Bank Conshohocken, PA 3,131,868 5.03 5.67 0.68 81.62 4.17 29,187 31.55 14.08 18.75
213 Lone Star National Bancshares McAllen, TX 2,188,566 4.95 5.35 0.64 79.86 3.43 13,814 29.99 4.79 -1.07
214 CrossFirst Holdings Leawood, KS 2,133,106 4.90 5.76 0.56 65.97 3.27 10,311 38.05 30.59 21.56
215 Opus Bank (OPB) Irvine, CA 7,882,563 4.73 1.22 0.16 49.71 3.62 11,454 -80.89 1.94 30.23
216 Cadence Bancorp Houston, TX 9,531,252 4.50 5.96 0.70 58.84 3.33 65,306 71.61 7.38 16.05
217 Spencer Savings Bank Elmwood Park, NJ 2,609,703 4.32 4.62 0.52 68.01 2.66 13,403 1.46 3.26 5.14
218 BCI Financial Group Miami, FL 8,260,624 4.18 6.98 0.94 48.69 3.17 69,147 565.84 31.77 10.79
219 Cascade Bancorp (CACB) Bend, OR 3,079,058 4.15 4.75 0.57 70.66 3.54 16,771 -18.50 25.23 28.00
220 Standard Bancshares Hickory Hills, IL 2,327,196 4.06 -1.16 -0.12 89.57 3.59 -2,914 NM -0.88 -0.57
221 Southern BancShares (SBNC) Mount Olive, NC 2,512,429 4.05 5.46 0.56 71.45 3.79 13,359 70.05 29.75 25.73
222 Manufacturers Bank Los Angeles, CA 2,613,381 4.01 4.44 0.53 62.11 2.58 14,057 6.78 0.85 11.47
223 Western New England Bancorp (WNEB) Westfield, MA 2,076,018 3.74 2.95 0.32 73.46 2.70 4,834 -15.42 92.30 87.45
224 Capital City Bank Group (CCBG) Tallahassee, FL 2,845,197 3.60 4.22 0.43 84.10 3.25 11,746 28.85 4.62 6.08
225 Green Bancorp (GNBC) Houston, TX 4,024,822 3.60 -0.22 -0.03 53.64 3.65 -972 NM -0.07 14.95
226 Northfield Bancorp (NFBK) Woodbridge, NJ 3,850,094 3.58 4.26 0.70 60.53 2.98 26,130 33.79 25.31 40.00
227 TotalBank Miami, FL 2,947,741 3.56 4.73 0.76 62.46 2.93 22,153 39.89 7.00 5.82
228 Home Federal Bank of Tenn. Knoxville, TN 2,215,364 3.46 3.31 0.56 68.95 2.58 12,301 -1.88 2.32 7.13
229 Atlantic Capital Bancshares (ACBI) Atlanta, GA 2,727,543 3.07 4.44 0.49 71.50 3.12 13,395 NM 6.89 4.05
230 Mercantil Bank Holding Coral Gables, FL 8,434,540 2.94 3.35 0.29 77.16 2.51 23,580 56.73 2.29 -7.59
231 HomeTrust Bancshares (HTBI) Asheville, NC 2,774,240 2.77 3.66 0.48 73.51 3.39 13,250 51.72 12.06 4.80
232 Beneficial Bancorp (BNCL) Philadelphia, PA 5,738,593 2.52 2.46 0.47 72.40 3.02 25,469 11.25 37.00 16.40
233 CTBC Capital Corp. Los Angeles, CA 2,957,485 2.41 3.09 0.73 64.51 3.14 20,953 44.49 19.28 11.44
234 Ridgewood Savings Bank Ridgewood, NY 5,347,525 2.30 2.41 0.31 85.53 2.17 16,454 8.19 14.27 4.37
235 Bank Leumi Le-Israel Corp. New York, NY 7,420,694 1.95 3.59 0.39 76.29 2.89 26,387 -57.32 14.26 23.01
236 National Bank Holdings (NBHC) Greenwood Village, CO 4,573,046 1.90 3.95 0.50 69.47 3.49 23,060 372.44 10.96 1.88
237 Kearny Financial Corp. (KRNY) Fairfield, NJ 4,585,308 1.49 1.68 0.43 67.32 2.37 19,180 162.38 14.46 4.83
238 Blue Hills Bancorp (BHBK) Norwood, MA 2,469,692 1.30 2.20 0.39 74.72 2.68 8,653 19.73 24.70 23.95
Median for the top 20 institutions 3,005,525 13.93 14.30 1.31 56.50 3.90 46,889 13.34 10.65 8.34
Median for all 238 institutions 3,639,987 8.71 8.72 0.94 61.23 3.51 31,831 12.41 10.65 10.71
Average for the top 20 institutions 3,650,501 15.36 14.85 1.38 55.34 3.92 55,305 13.53 10.42 12.66
Average for all 238 institutions 4,443,897 8.61 8.74 0.92 61.53 3.49 40,918 20.82 14.73 15.53

Notes: Ranking is of top consolidated bank holding companies, banks, and thrifts with total assets of between $2 billion and $10 billion as of 12/31/16 and is based on three-year average return on equity for 2014 to 2016. Additional data is for the year ended 12/31/16; year-over-year changes compare 2016 to 2015. Financials are from SEC filings. If unavailable, regulatory financials were used. Ties broken using first the 2016 ROAE and subsequently the 2015 ROAE.

Excludes industrial banks, nondepository trusts, foreign-owned banks and bankers’ banks, as well as institutions with credit cards to total loans of more than 25%, loans to total assets of less than 20% or loans to total deposits of less than 20%. Excludes institutions with a leverage ratio of less than 5%, a Tier 1 risk-based capital ratio of less than 6%, or a total risk-based capital ratio of less than 10% during any quarter in the ranking period. Excludes institutions that received a tax benefit of greater than 10% of net income or that did not report data for any year in the ranking period. Also excludes institutions that have fewer than five depository branches and are owned by a company not primarily focused on commercial or retail banking. Based on the preceding criteria, 44 institutions in this asset size range were excluded from the ranking.

* Denotes institutions that operated as a subchapter S corporation for at least one quarter between 2014 and 2016. Their profitability ratios were calculated from regulatory financials and adjusted using an assumed tax rate.

† Institution was acquired between January 1 and April 5.

Source:

Capital Performance Group
analysis of data provided by SNL Financial.

© 2017 American Banker Magazine