Best Banks to Work For 2024 with $3B to $10B of assets

November 14, 2024 12:00 PM

Twenty-two banks with assets between $3 billion and $10 billion made this year's Best Banks to Work For list. Overall, 90 institutions were honorees. Read more about this year's winners in the midsize asset category.

Note: Asset sizes are from the Federal Deposit Insurance Corp. as of June 30. Employee headcounts were provided by the banks.

For additional Best Banks to Work For coverage, please see: Best Banks to Work For 2024

HomeTrust Bank employees paint tables while volunteering at the Asheville Area Habitat for Humanity Restore.

HomeTrust Bank

Asheville, North Carolina

Assets: $4.7 billion

President and CEO: Hunter Westbrook

No. of U.S. employees: 566

A 2022 CEO change at HomeTrust Bank's parent company prompted the need for more communication between new President and CEO Hunter Westbrook and employees. Westbrook instituted "skip level" meetings as part of an effort to create a more highly engaged workforce. The meetings became a way for Westbrook, who succeeded Dana Stonestreet, to learn about the employees' issues and concerns.

The feedback was used to define leadership characteristics that HomeTrust sought in senior-level leaders and create executive development plans. It seems to be paying off. During this year's skip level meetings, leaders "are very engaged and [feel] like they have a voice," Westbrook said.

Independence Bank employees spread the love.

Independence Bank

Owensboro, Kentucky

Assets: $3.7 billion

President and CEO: Greg Mullican

No. of U.S. employees: 399

Independence Bank wants to make sure employees enjoy the time they spend at work. Themed dress days are planned throughout the year. So-called Office Olympics break up the workday with games and activities. Food trucks are on site and free popcorn is available at all sites every Friday.

The company also wants to make sure that employees' needs are met. Years ago, it launched an employee-supported fund to assist colleagues with financial needs. All employees are eligible to request assistance.

Stock Yards Bank & Trust supports Simmons College, Kentucky's first historically Black college, founded in 1879.

Stock Yards Bank & Trust

Louisville, Kentucky

Assets: $8.3 billion

CEO: Ja Hillebrand

No. of U.S. employees: 1,060

At Stock Yards Bank & Trust, CEO Ja Hillebrand and other executives are on a first-name basis with every employee. That's part of the culture, which is based on good relationships and a great working environment. This year, Stock Yards made several policy changes to better support employees. The company expanded bereavement leave, making it available to part-time and flex employees, and updated its sick policy to allow the time to be used for wellness visits that encourage preventative care.

It also began offering maternity and adoption benefits to part-time employees who work at least 1,250 hours per year, and it relaxed its dress code for those who work in operations with no customer contact.

Peapack-Gladstone Bank sponsors the annual Pride event in Asbury Park, New Jersey.

Peapack-Gladstone Bank

Bedminster, New Jersey

Assets: $6.5 billion

President and CEO: Douglas Kennedy

No. of U.S. employees: 591

During and after the banking crisis of 2023, Peapack-Gladstone Bank worked hard to overcome the "guilt by association" that affected the entire industry, CEO Douglas Kennedy said. Part of that work involved "transparently providing details of our strength and stability to investors, employees and colleagues," Kennedy said. At the same time, the company, whose wealth arm is expanding into New York City, saw an opportunity to grow and began investing in private banking, hiring more than 80 new employees.

Alongside that effort, it has introduced "hospitality training" to employees as part of an effort to reinforce the company's single-point-of-contact business model, Kennedy said. "Our relationship managers are agnostic, making it easier for clients to do business with us."

Cape Cod 5's summer interns participate in a volunteer day of service with Barnstable Land Trust at Fuller Farm in Marstons Mills, Massachusetts.

Cape Cod 5

Hyannis, Massachusetts

Assets: $5.8 billion

Chair and CEO: Matthew Burke

No. of U.S. employees: 547

Cape Cod 5, which already runs a successful internship program, has been building out its employee training. Last year, the bank launched a relationship banking trainee program for recent high school graduates. The program is designed for participants to explore a career path in banking while receiving college tuition assistance, a competitive salary and a sign-on bonus. All three members of the inaugural yearlong program are now working full-time at the bank, CEO Matthew Burke said.

In addition, Cape Code 5 launched a leadership academy this year that provides career development and management experience for existing employees. In its first year, 14 employees are enrolled in the six-month program, which covers topics such as critical thinking and emotional intelligence as well as discussions with bank leaders, Burke said.

BankPlus employees row during a regatta to raise money for a local nonprofit organization that provides goods and services to more than 700 families.

BankPlus

Ridgeland, Mississippi

Assets: $7.8 billion

President and CEO: Jack Webb

No. of U.S. employees: 1,119

When BankPlus decided to reduce its branch footprint by 15%, it aimed to do so without laying off employees. To achieve this goal, it transitioned some affected workers into new jobs that utilized their skill sets in different ways. At the same time, it created something called a "utility player pool" where certain employees are paid extra money to travel to locations as needed.

Meanwhile, BankPlus is renovating a 14-acre office complex in Ridgeland, Mississippi, to house bank and mortgage operations as well as other back-office support functions. The property will include a conference center, multipurpose training facilities and mobile workstations.

"We feel like these are two great examples of adapting to change and accepting corporate fiscal responsibility while keeping employees' well-being at the forefront of our planning processes," President and CEO Jack Webb said.

S&T Bank hosted lemonade stands in its branches to raise funds for Alex's Lemonade Stand Foundation, the largest independent childhood cancer charity in the United States.

S&T Bank

Indiana, Pennsylvania

Assets: $9.6 billion

CEO: Chris McComish

No. of U.S. employees: 1,247

In an effort to improve employee experience, this year S&T Bank started the "Make People Our Purpose Fund," which provides managers with $50 per employee to use toward team-building activities. The bank also offers 16 hours of paid volunteer time per year, 100% company-paid employee medical benefits and seven employee resources groups that support communities such as caregivers, people with disabilities, LGBTQ+ and racial minorities. In response to employee feedback in 2023, S&T revised its "Family Fun Days" program, shifting the annual event from amusement parks to local zoos.

Capital City Bank associates honor Memorial Day.

Capital City Bank

Tallahassee, Florida

Assets: $4.2 billion

CEO: Bill Smith Jr.

No. of U.S. employees: 808

Capital City Bank has taken several steps to improve the work environment for employees. For starters, it rolled out a social recognition program on its new intranet, where employees can acknowledge one another for good work, and it established a new "culture camp" that's designed to connect employees and share experiences. It also increased its starting pay and plans to revamp its tenure recognition program so that employees will be recognized starting at three years of service.

The updated intranet serves as a "digital headquarters," according to CEO Bill Smith Jr. "Like many other companies, we now have a blend of in-person, remote and hybrid workers, which alongside our expanding operational footprint, highlights a need for a digital headquarters to unify and connect, regardless of physical work location," he said.

Southside Bank's East Texas team members pack food boxes at the East Texas Food Bank.

Steven Campbell

Southside Bank

Tyler, Texas

Assets: $8.4 billion

President and CEO: Lee Gibson

No. of U.S. employees: 812

Relationships have been a major focus this year at Southside Bank, which launched a "relationship culture" program through which employees from across the bank can share strategies on how to form and develop relationships, grow their social circles and thus bring new business to the company.

"While relationship building may seem like something reserved for the 'front line' or sales staff, at Southside we believe sales is part of everyone's job," President and CEO Lee Gibson said. "One way this can be done is to ensure everyone knows the power they have within their circle of influence."

The bank hosts a monthly live forum to share ideas and it shares recorded videos featuring other team members on how they have successfully built relationships.

Dacotah Bank in Morris, Minnesota, gives back to the Stevens County Food Shelf.

Dacotah Bank

Aberdeen, South Dakota

Assets: $4.3 billion

Chair and CEO: Robert Fouberg

No. of U.S. employees: 622

Dacotah Bank wants to make sure that it remains an employer of choice. So the company regularly uses engagement surveys to gauge employee sentiment and it also maintains a digital "idea box" where any employee can submit ideas for improvements that are reviewed by a member of the culture committee. In terms of benefits, Dacotah continues to pay 100% of employee and family health and dental insurance premiums.

It also recently adjusted its base salaries, the number of pay grades and the scope of each pay grade "to provide greater latitude for salary increases in current roles," Chair and CEO Robert Fouberg said. The bank rolled out a new program this year called "Level-up Leadership," which focuses on honing strategic thinking, fostering emotional intelligence and building up decision-making skills.

b1BANK put up a team to compete in the Pickle Fest.

b1BANK

Baton Rouge, Louisiana

Assets: $6.7 billion

Chair and CEO: David "Jude" Melville III

No. of U.S. employees: 772

At b1BANK, very few decisions are made unilaterally, according to Chair and CEO David "Jude" Melville III. For instance, within b1BANK's operating committees, it has been established that line-level colleagues will make decisions collaboratively.

"The process of transparent communication leads to better answers and develops the muscles we will need for future decision-making, engagement and execution," said Melville, who recently passed the president title to Jerry Vascocu. "We want the people closest to the work to have input and decision-making authority, and these committees are the most natural place to ensure communication is meaningful."

First National staff show off their new t-shirts, given to all employees to applaud their excellent work.

First National Bank Alaska

Anchorage, Alaska

Assets: $5.1 billion

Chair, president and CEO: Betsy Lawer

No. of U.S. employees: 611

Treating employees well is part of the mission at First National Bank Alaska. Along with safekeeping depositors' money, offering financial services to the community and earning shareholder returns, the bank aims to pay employees competitive salaries and provide "a pleasant working environment," it said. Some of the perks include flexible work arrangements, including a four-day, 10-hour workweek option; volunteer opportunities; and an annual dinner hosted by the board of directors.

Texas Bank and Trust employees participate in "Flashback Friday" and sport their 1980s clothing and hairstyles.

Texas Bank and Trust

Longview, Texas

Assets: $4.3 billion

Vice chair and CEO: Rogers Pope Jr.

No. of U.S. employees: 540

When employees at Texas Bank and Trust experienced an extended power outage last year during a heat wave, they turned to their employer for help. The faith-based bank's "We Care" fund provided more than $23,300 to help 76 employees replenish groceries that were spoiled during the outage. Currently, 22 Texas Bank and Trust employees donate money each pay period to the "We Care" fund. In total, they contributed more than $13,770 in 2023.

The bank hosts lunch-and-learn sessions throughout the year, touching on subjects like professional development and financial literacy. Last year, the bank counted more than 1,315 attendees across the multiple sessions, which are taught by their co-workers.

First Premier Bank employees enjoy participating in the annual Halloween Costume contest. This group is dressed as characters from the scene "Beauty School Dropout" from the musical Grease.

First Premier Bank

Sioux Falls, South Dakota

Assets: $3 billion

CEO: Dana Dykhouse

No. of U.S. employees: 392

First Premier Bank is leveraging technology to keep employees connected. This year, it rolled out a new, cloud-based intranet where employees can read company news, find volunteer opportunities and connect with their colleagues. Training and development remains top of mind. In 2023, the bank created a one-day leadership refresher course as well as a two-hour culture course for employees. Those who have worked at First Premier for at least two decades receive generous bonus payments at their 20-, 25-, 30-, 35- and 40+ year anniversaries — $1,000 for every year they have worked at the bank.

Offices across Community Bank's footprint hosted the "CB Challenge" at local high school football games. The CB Challenge gave two seniors the opportunity to compete for a scholarship, with the winner being the one who made the most footballs through the target. The bank hosted the CB Challenge at 51 schools and gave $32,600 in scholarships in one season.

Community Bank

Flowood, Mississippi

Assets: $4.8 billion

President and CEO: Justin Martin

No. of U.S. employees: 878

Community Bank, which operates 55 branches in four states, plays close attention to its culture, which is based on strong relationships among employees and with customers. Colleagues care about one another and the communities in which they work. Last year, as part of the bank's "Committed to Community" program, more than 200 employees came together to volunteer at a nonprofit, which was not only a chance to give back to the community but also became a team-building project, President and CEO Justin Martin said.

Some examples of Community Bank's attentiveness to employees: The bank gives each employee a half-day each year to use for an annual wellness checkup and it reimburses tuition for undergraduate courses, no matter the course subject or length of time working at the bank.

At MVB Bank's recent team engagement sessions, employees painted small canvases that were later combined to make a larger canvas, revealing a series of fun and inspirational images.

MVB Bank

Fairmont, West Virginia

Assets: $3.3 billion

CEO: Larry Mazza

No. of U.S. employees: 417

Employees at MVB Bank, which operates seven branches in two states, have described the culture there as empowering, accepting, motivating and fun. That's because they're rewarded for hard work, recognized for upholding the company's values and given opportunities to learn and grow within the organization, the company said. They also receive random gifts from the leadership team and their benefits package was recently boosted with a better 401(k) plan.

Stearns Bank's Servicing Team makes tie blankets for a volunteer activity.

Stearns Bank

St. Cloud, Minnesota

Assets: $3.2 billion

President and CEO: Kelly Skalicky

No. of U.S. employees: 494

Those who work at Stearns Bank are not only employees; they're also owners. The bank's benefits package includes an employee stock ownership plan, along with 12 weeks of paid medical leave, parental leave for women and men and reimbursement for family care, pet care and continuing education.

This year, Stearns is launching what it calls an "intrapreneurship" program, an initiative to drive innovation and growth within the bank. The program will include small roundtable sessions where employees can share their passions, interests and goals with the broader Stearns team.

On behalf of the Peoples Bank Foundation, bank employees from the Madisonville, Ohio, area presented a donation to two local nonprofit organizations.

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Peoples Bank (PEBO)

Marietta, Ohio

Assets: $9.2 billion

CEO: Tyler Wilcox

No. of U.S. employees: 1,303

Peoples Bank (PEBO) has been busy. The 122-year-old company completed the acquisition of Limestone Bank in May of 2023, which added more than 200 new employees to the roster. Less than a year later, it underwent a CEO transition due to retirement. "We effectively navigated both through careful planning, open communication, collaborative efforts and by setting clear priorities," new CEO Tyler Wilcox said.

Peoples bills itself as a workplace where employees are encouraged to ask questions and pursue career growth opportunities. "This model allows us to prioritize our employees and continue pushing our company forward to achieve our goal of being the best community bank in the U.S.," Wilcox said.

Red River Bank employees from the Alexandria Banking Center donate bags of household products to individuals who have aged out of foster care and are entering the world on their own.

Red River Bank

Alexandria, Louisiana

Assets: $3 billion

President and CEO: Blake Chatelain

No. of U.S. employees: 368

At Red River Bank, employees who do good work are recognized in several ways. Bank leaders recognize outstanding performers in a monthly newsletter and the senior management team praises employees' efforts in a quarterly meeting and through monthly events that include videos, games and prizes.

In addition, employees can recognize one another for good work through a digital "WOW" card that's available on the bank's intranet. The "WOW" card is a way to give immediate praise to others for actions like providing special assistance, living the bank's values and going above and beyond on a project.

Contestants gather for a picture after TIB Bank's annual employee costume contest.

Jim Roland

TIB Bank

Farmers Branch, Texas

Assets: $2.9 billion

President and CEO: Michael O'Rourke

No. of U.S. employees: 242

Facing a potential revenue shortfall in 2023, TIB Bank asked its employees for their input on reducing expenses while generating more income. Staff members rose to the occasion by sharpening the correspondent bank's efficiencies, exiting certain businesses and implementing new streams of revenue. The end result was a success, as TIB recorded record net income last year, topping $40 million. To show appreciation, the bank hosted a "Christmas in July" event where employees received surprise bonuses.

Separately, starting in January this year, TIB began offering unlimited, confidential mental health counseling to all employees and their dependent children aged 13 and older, at no cost.

Centier Bank employees help Phil's Friends create care packages for cancer patients.

Centier Bank

Merrillville, Indiana

Assets: $8.9 billion

CEO: Michael Schrage

No. of U.S. employees: 1,048

Centier Bank prioritizes employees' mental health, self-care and family needs. The company cares for employees in myriad ways, including three paid mental health days, access to LinkedIn Learning courses at no costs and free, fast access to licensed health coaches and behavioral therapists. The backdrop is something that Centier Bank refers to as a "servant heart culture," which is about caring for one another. "We listen to our associates and often make changes that impact them for the better," the bank said.

Origin Bank employees in Dallas enjoy one of the many events held during the company's Culture Celebration Month.

Origin Bank

Ruston, Louisiana

Assets: $9.9 billion

Chair, president and CEO: Drake Mills

No. of U.S. employees: 936

Origin Bank gives much of the credit for its success to its employees, and it shows its appreciation in a number of unique ways, such as "dream managers" who help employees make a plan to achieve their goals. This past year, it launched a loyalty program that offers employees top-market rates on deposits, discounted rates on lending products and reduced or eliminated fees on different services. The bank chose and trained 13 retail and lending employees to serve as banking advisors to their co-workers. And it introduced an employee engagement platform, including an updated intranet and an accompanying mobile app.

"Origin's mission statement is centered around our four key stakeholders: employees, customers, communities and shareholders," CEO Drake Mills said. "Our culture has always been built around these four segments and everything starts with our employees."