FOR IMMEDIATE RELEASE
ICBA Names Top Performing Community Banks
Annual Tally Examines C Corporation and S Corporation Community Banks
Washington, D.C. (June 6, 2006)—The Independent Community Bankers of America (ICBA) and Independent Banker magazine named the top earning community banks for 2005. The annual performance ranking examines ICBA member banks based on asset size and ownership type -- C Corporation and S Corporation -- using FDIC call reports. The rankings evaluate banks based on return on equity (ROE) and return on assets (ROA) and asset size.
"Community banks are a diverse and innovative group," said Camden R. Fine, ICBA president and CEO. "Top earning community banks overcame shrinking net interest margins and more competition than ever before to post impressive results and add to their franchise value."
In naming the top ICBA performers, Independent Banker also explores the variety of approaches community banks use to achieve results including focusing on niche products, customer service and reaching into underserved market areas.
Among some of the top performers for C Corporation banks with assets of less than $50 million are The Philadelphia Trust Co., Philadelphia, Pa., with a ROA of 5.27 percent, and The First Bank of Haskell, Okla., with a ROE of 22.51 percent followed closely by First Bank of White, S.D. Citizens State Bank, Petersburg, Ind., topped the list of C Corporation banks with $100 million to $250 million in assets for both ROA and ROE, with 3.21 percent and 35.57 percent respectively.
For S Corporation banks, Bryant State Bank, Bryant, S.D. topped the ROA list with 5.52 percent, and Elysian Bank, Elysian, Minn. topped the ROE list with 40.91 percent for banks with less than $50 million in assets. For banks with assets between $50 million and $100 million, Security Bank of Southwest Missouri, Cassville, Mo., topped the list with 3.44 percent ROA and Bank of Dade, Trenton, Ga., ranked number one with 41.83 percent ROE.
View the complete lists of top performers at www.icba.org.