Big gains, but warning signs: The top 200 publicly traded community banks

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Community banks need to reinvent themselves. That's the takeaway Kevin Halsey had after compiling data for our annual ranking of publicly traded banks and thrifts with less than $2 billion of assets.

Lower taxes and higher interest rates significantly improved profitability for this group last year. The median return on average equity for the 601 institutions that fit the ranking criteria jumped 270 basis points in 2018, to 9.66%. The increase for the top 200 is even greater (an extra 10 basis points), raising their median ROAE to a very impressive 12.45%.

But Halsey, a consultant at Capital Performance Group, points out that those gains had little to do with improvements to bank operations. Particularly troubling trends include slower core deposit growth — it was 4.2% last year, down from 7.1% the previous year — and rising noninterest expenses.

Halsey said the expense growth of 6.37% could be interpreted two ways. Perhaps business demands like the need to keep up with technology are imposing an increasingly heavy toll. Or perhaps the tax savings is prompting small banks to invest. "It's probably a little of both," Halsey said.

See rankings from past years:

But even the most optimistic spin gives him pause — because the apparent investments have not boosted revenue. "They haven't funded some engine that's taken off yet," he said.

That is what needs to happen for small banks to compete effectively, though. "There is a mandate to change the way in which they do business," said Halsey, who argues that focusing on, and excelling in, particular niches like small-business banking can help. "You can't boil the ocean. You can’t be everything to everybody. You really need to pick and choose your battles.”

The number of institutions in this size range also continued to shrink, owing to the ongoing trend of bulking up to improve efficiency. Of those that qualified for this ranking last year, 15 had pumped up their asset size to more than $2 billion as of Dec. 31, including six that had been in the top 200 previously.

Click on "view table" below to see the latest ranking.

For American Banker’s paid subscribers only: If you have a paid subscription to American Banker, you can request an Excel chart with all 601 publicly traded banks and additional analysis by Capital Performance Group for a limited time. To receive a reply, the request for this subscriber bonus must be received by bonnie.mcgeer@sourcemedia.com no later than May 24 and sent from the email address tied to the subscription. Include the name of the subscriber and the name of the institution in the body of the email. Please put “top 200 ranking request” in the subject line. Subscriptions will be verified and replies will follow after May 24.

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Big gains, but warning signs: The top 200 publicly traded community banks
Rank Institution/Ticker Location Total Assets ($000) Market Value ($Millions) Closing Price ($) 3-Year ROAE Avg. (%) ROAE (%) ROAA (%) Net Interest Margin (%) Net Income ($000) Total Noninterest Income ($000) Noninterest Expense Growth (%) Efficiency Ratio FTE (%)
1 Oregon Bancorp (ORBN) Salem, OR 241,577 46.03 19.95 25.18 29.33 3.37 4.15 7,553 34,475 14.62 76.84
2 MetroCity Bankshares (MCBS) Doraville, GA 1,435,822 333.32 27.50 24.90 27.80 3.01 4.47 41,377 37,462 23.31 40.08
3 Thomasville Bancshares (THVB) Thomasville, GA 879,101 232.37 39.00 18.89 21.34 2.00 3.78 16,911 12,820 3.32 46.92
4 Plumas Bancorp (PLBC) Quincy, CA 824,398 124.91 24.25 18.25 23.29 1.83 4.70 13,992 8,680 8.60 51.79
5 First Home Bancorp Saint Petersburg, FL 364,059 NA NA 17.23 (2.12) (0.26) 5.82 (830) 29,538 109.77 99.71
6 FS Bancorp (FSBW) Mountlake Terrace, WA 1,621,644 221.84 50.72 15.57 18.15 2.07 4.61 24,347 19,336 7.86 65.93
7 Greene County Bancorp (GCBC) Catskill, NY 1,195,286 264.67 31.00 15.20 16.90 1.42 3.56 16,260 8,047 18.10 50.58
8 FFD Financial Corp. (FFDF) Dover, OH 394,084 52.27 52.50 15.09 16.31 1.48 3.91 5,500 1,727 12.69 53.04
9 First General Bank Rowland Heights, CA 947,186 NA NA 15.02 18.67 2.31 4.47 21,105 1,814 14.80 29.19
10 Mission Bancorp (MSBC) Bakersfield, CA 688,830 147.94 82.50 14.98 21.40 1.91 4.50 12,763 6,458 13.66 47.59
11 Country Bank Holding Co. (CYHC) New York, NY 727,672 55.20 28500.00 14.88 14.82 1.48 4.19 10,362 514 5.01 52.43
12 Santa Cruz County Bank (SCZC) Santa Cruz, CA 662,408 122.61 50.00 14.74 18.15 1.75 4.66 11,380 3,222 10.48 49.06
13 Unity Bancorp (UNTY) Clinton, NJ 1,579,157 217.16 20.11 14.63 17.10 1.53 3.97 21,919 8,939 10.02 52.44
14 First Farmers Financial (FFMR) Converse, IN 1,749,101 305.26 42.50 14.35 15.38 1.63 4.15 27,664 15,580 11.15 52.96
15 First IC Corp. (FIEB) Doraville, GA 500,737 53.61 8.15 14.04 14.31 2.16 4.59 9,636 10,204 14.94 52.55
16 United Bancorp. of Ala. (UBAB) Atmore, AL 639,609 49.52 20.30 13.90 24.08 1.60 3.82 10,052 6,686 7.38 66.55
17 Parke Bancorp (PKBK) Sewell, NJ 1,467,398 228.77 21.28 13.88 17.20 1.98 3.92 25,038 4,107 1.62 30.05
18 Union Bankshares (UNB) Morrisville, VT 805,337 207.79 46.51 13.86 11.80 0.94 4.05 7,072 9,020 5.84 65.99
19 First Commerce Bancorp Lewisburg, TN 411,624 NA NA 13.84 15.67 1.38 4.02 5,285 1,328 9.04 52.85
20 Fentura Financial (FETM) Fenton, MI 926,450 95.05 20.45 13.57 15.05 1.20 3.85 10,114 8,277 9.28 65.23
21 Truxton Corp. (TRUX) Nashville, TN 485,133 110.19 40.00 13.48 15.53 1.76 3.30 8,194 10,627 5.04 58.48
22 Bridgewater Bancshares (BWB) Bloomington, MN 1,973,741 333.18 11.07 13.31 13.87 1.51 3.72 26,920 2,893 26.44 45.70
23 First National Corp. (FXNC) Strasburg, VA 752,969 99.24 20.00 13.31 16.36 1.34 3.93 10,135 8,563 3.16 64.08
24 Bank of South Carolina (BKSC) Charleston, SC 429,135 103.64 18.79 13.29 15.85 1.61 4.15 6,923 1,990 8.18 56.72
25 Marlin Business Services (MRLN) Mount Laurel, NJ 1,167,046 278.30 22.92 13.27 13.27 2.29 7.60 24,980 37,352 6.59 54.42
26 Timberland Bancorp (TSBK) Hoquiam, WA 1,200,315 239.85 28.90 13.24 14.66 1.80 4.31 18,722 12,616 7.59 54.62
27 Minster Financial Corp. (MTFC) Minster, OH 490,197 59.62 57.00 13.12 15.41 1.30 3.32 6,213 3,694 8.36 58.77
28 CNB Community Bancorp (CNBB) Hillsdale, MI 662,067 74.37 35.00 13.09 15.78 1.31 4.24 8,473 6,230 4.42 66.94
29 Pacific City Financial Corp. (PCB) Los Angeles, CA 1,697,028 277.85 17.39 12.91 14.26 1.53 4.23 24,301 10,451 11.99 52.79
30 Bank First National Corp. (BFC) Manitowoc, WI 1,793,165 377.83 57.54 12.88 15.36 1.43 3.80 25,456 8,968 43.30 53.57
31 Communities First Financial (CFST) Fresno, CA 467,208 70.61 24.20 12.86 16.68 1.46 4.45 6,249 1,736 18.48 54.39
32 Citizens Bank Carthage, TN 587,500 NA NA 12.85 12.99 2.25 4.12 13,137 2,348 1.72 29.71
33 Trinity Bank (TYBT) Fort Worth, TX 257,181 72.05 65.50 12.77 14.77 1.84 3.80 4,677 547 24.22 45.57
34 Summit Bank (SBKO) Eugene, OR 416,468 83.64 16.25 12.70 15.51 1.51 5.23 5,762 1,733 27.47 53.22
35 First Commerce Bank (CMRB) Lakewood, NJ 962,299 135.21 6.00 12.58 10.25 1.31 4.04 12,934 477 12.73 46.38
36 Capital Bancorp (CBNK) Rockville, MD 1,105,058 151.90 11.11 12.54 13.94 1.22 5.59 12,767 16,147 20.10 73.07
37 Merchants Bancorp Hillsboro, OH 736,716 NA NA 12.48 14.67 1.45 4.02 10,236 3,572 10.37 55.22
38 Crystal Valley Financial (CYVF) Middlebury, IN 566,448 79.32 51.10 12.47 13.73 1.59 4.30 8,625 4,311 3.68 60.98
39 First Bancorp (FBLV) Lebanon, VA 1,810,942 182.45 44.00 12.44 13.86 1.50 3.95 26,367 13,707 7.25 54.66
40 FS Bancorp (FXLG) Lagrange, IN 760,553 144.75 66.00 12.40 13.63 1.29 3.77 9,383 5,815 22.72 65.28
41 Home Loan Financial Corp. (HLFN) Coshocton, OH 210,576 18.74 34.00 12.39 13.21 1.76 4.46 3,632 1,254 (0.08) 50.55
42 Peoples Limited (PPLL) Wyalusing, PA 371,226 42.68 67.12 12.38 15.70 1.33 3.44 4,842 3,582 3.20 59.90
43 Capital Bank of New Jersey* Vineland, NJ 513,515 NA NA 12.26 15.26 1.38 3.62 6,861 1,368 5.04 56.70
44 Heartland BancCorp (HLAN) Whitehall, OH 1,047,177 163.93 81.30 12.26 13.54 1.16 3.90 11,415 5,318 19.79 62.45
45 Silvergate Capital Corp. La Jolla, CA 1,999,812 NA NA 12.24 15.47 1.22 3.55 24,548 7,509 54.92 59.35
46 LifeStore Financial (LSFG) West Jefferson, NC 292,159 31.00 29.50 12.19 13.77 1.24 3.74 3,573 2,951 1.63 69.90
47 Cass Information Systems (CASS) Saint Louis, MO 1,695,176 695.62 47.89 12.13 13.37 1.84 3.34 30,268 104,118 11.47 73.96
48 Forsyth Bancshares Cumming, GA 303,881 NA NA 12.10 14.49 1.35 3.91 4,161 782 6.96 55.59
49 Southern First Bancshares (SFST) Greenville, SC 1,900,614 257.64 34.43 12.07 13.83 1.27 3.58 22,289 10,194 15.08 56.32
50 CBB Bancorp (CBBI) Los Angeles, CA 1,161,074 121.23 12.00 12.07 13.49 1.50 4.30 16,658 10,381 14.87 56.47
51 Lyons Bancorp (LYBC) Lyons, NY 1,081,697 126.81 40.00 11.99 13.17 0.95 3.46 9,997 11,242 10.65 67.42
52 High Country Bancorp (HCBC) Salida, CO 267,977 40.59 44.02 11.93 13.78 1.38 5.14 3,657 1,501 8.77 65.48
53 PSB Holdings (PSBQ) Wausau, WI 915,998 104.96 23.35 11.87 13.41 1.19 3.56 10,312 6,476 6.72 60.82
54 Community Bancorp. (CMTV) Derby, VT 720,347 87.45 16.90 11.87 14.09 1.24 3.98 8,398 5,951 3.80 63.99
55 1st Colonial Bancorp (FCOB) Cherry Hill, NJ 543,938 55.45 12.50 11.70 12.84 0.96 3.47 5,215 3,027 2.01 62.35
56 Susquehanna Community (SQCF) West Milton, PA 422,536 53.19 18.00 11.67 12.05 1.24 3.33 5,124 2,586 7.81 64.56
57 Sunwest Bank Irvine, CA 1,333,563 NA NA 11.63 13.78 1.58 4.35 20,049 6,133 2.11 50.71
58 Commercial National (CEFC) Ithaca, MI 527,368 45.01 11.35 11.62 13.31 0.86 2.92 4,502 1,842 (4.16) 66.65
59 Baker Boyer Bancorp (BBBK) Walla Walla, WA 600,359 91.13 70.49 11.60 13.81 1.22 3.61 7,321 12,741 5.83 73.90
60 Farmers Bancorp (FABP) Frankfort, IN 568,115 88.62 42.50 11.58 13.57 1.46 4.06 7,924 4,839 4.28 60.16
61 US Metro Bank (USMT) Garden Grove, CA 389,110 56.32 3.47 11.55 7.58 1.09 4.15 3,851 4,851 23.28 64.40
62 HomeTown Bank Galveston, TX 593,364 NA NA 11.54 13.64 1.46 4.21 8,648 2,180 4.15 54.56
63 Macatawa Bank Corp. (MCBC) Holland, MI 1,975,124 349.96 10.28 11.45 14.69 1.40 3.36 26,379 17,503 1.47 57.74
64 1st Summit Bancorp (FSMK) Johnstown, PA 1,073,271 135.10 123.00 11.36 11.97 1.06 2.83 11,191 5,198 (0.07) 61.33
65 First Bancorp (FNLC) Damariscotta, ME 1,944,570 287.55 26.42 11.31 12.72 1.23 2.91 23,536 12,463 5.74 52.04
66 Chino Commercial Bancorp (CCBC) Chino, CA 201,988 28.41 15.28 11.30 12.15 1.16 4.10 2,231 1,563 13.25 63.18
67 FFW Corp. (FFWC) Wabash, IN 398,200 47.44 41.26 11.27 11.30 1.18 3.65 4,517 3,178 8.74 67.11
68 First Bancshares (FIBH) Bellevue, OH 222,493 21.69 38.10 11.25 13.36 1.31 4.26 2,876 1,455 (1.31) 63.38
69 State Bank Corp. (SBAZ) Lake Havasu City, AZ 655,337 107.23 13.27 11.23 14.22 1.34 3.89 8,581 5,644 5.11 60.02
70 Merchants Financial Group (MFGI) Winona, MN 1,766,499 199.87 75.00 11.23 10.41 1.28 4.20 21,650 18,412 3.28 64.75
71 CSB Bancorp (CSBB) Millersburg, OH 731,722 104.26 38.02 11.22 12.89 1.31 3.98 9,412 4,764 6.94 58.17
72 Cashmere Valley Bank (CSHX) Cashmere, WA 1,520,773 243.04 59.00 11.22 12.34 1.45 3.53 21,788 12,031 9.81 54.27
73 Valley Republic Bancorp (VLLX) Bakersfield, CA 779,854 136.42 33.00 11.19 14.54 1.25 3.34 8,952 2,324 10.87 52.28
74 Seacoast Commerce (SCBH) San Diego, CA 1,040,131 198.37 20.80 11.16 11.31 1.30 5.97 12,900 8,168 39.35 68.86
75 Northeast Bancorp (NBN) Lewiston, ME 1,194,127 173.98 21.14 11.09 13.00 1.55 5.12 17,935 7,129 6.83 57.95
76 Citizens Financial Services (CZFS) Mansfield, PA 1,430,712 208.27 59.50 11.09 13.00 1.29 3.66 18,034 7,754 8.26 55.41
77 Redwood Financial (REDW) Redwood Falls, MN 318,656 33.87 84.01 11.07 9.58 1.10 4.49 3,332 3,034 6.54 66.58
78 Benchmark Bankshares (BMBN) Kenbridge, VA 643,887 101.34 19.70 10.98 13.39 1.51 4.72 9,249 6,293 7.14 62.57
79 Steuben Trust Corp. (SBHO) Hornell, NY 551,105 64.14 38.50 10.97 12.45 1.27 3.74 6,944 4,118 5.10 60.92
80 Malaga Financial Corp. (MLGF) Palos Verdes Estates, CA 1,088,000 179.30 26.00 10.95 11.65 1.44 3.17 15,305 807 3.19 34.67
81 Pinnacle Bank (PBNK) Gilroy, CA 359,927 62.67 12.00 10.90 14.39 1.49 5.01 5,352 3,264 11.85 62.29
82 MBT Financial Corp. (MBTF) Monroe, MI 1,336,891 243.94 10.61 10.88 14.47 1.33 3.63 17,699 15,812 3.69 63.38
83 F&M Bancorp (FMOO) Miamisburg, OH 159,149 17.88 56.50 10.88 13.11 1.25 4.33 1,903 785 11.65 63.71
84 Town and Country Financial (TWCF) Springfield, IL 784,354 56.29 19.70 10.87 11.37 0.84 3.45 6,431 10,860 5.00 74.76
85 Virginia National (VABK) Charlottesville, VA 644,800 99.93 39.05 10.87 12.39 1.33 3.80 8,470 5,530 0.83 55.77
86 S.B.C.P. Bancorp (SBBI) Cross Plains, WI 986,995 83.81 87.00 10.87 11.28 1.25 3.54 11,949 10,985 3.25 59.94
87 Choice Bancorp (CBKW) Oshkosh, WI 421,138 49.46 21.40 10.86 13.79 1.09 3.01 4,474 1,129 13.58 51.85
88 OP Bancorp (OPBK) Los Angeles, CA 1,044,186 146.65 9.35 10.86 12.27 1.49 4.49 14,253 9,329 12.59 58.79
89 KS Bancorp (KSBI) Smithfield, NC 400,415 29.91 27.00 10.82 15.75 0.92 3.37 3,542 3,172 2.54 71.61
90 First Ottawa Bancshares (FOTB) Ottawa, IL 290,429 71.79 117.76 10.80 10.61 1.20 4.41 3,509 3,077 6.86 62.25
91 Liberty Bancorp (LBCP) Kansas City, MO 540,485 119.25 24.25 10.80 14.29 1.64 4.70 8,657 3,812 6.28 55.22
92 Cornerstone Community (CRSB) Red Bluff, CA 266,361 26.53 17.50 10.80 13.72 1.13 4.18 2,776 695 14.42 62.38
93 Kentucky Bancshares (KTYB) Paris, KY 1,086,012 146.54 24.50 10.80 12.36 1.18 3.70 12,430 13,037 3.43 68.78
94 SB Financial Group (SBFG) Defiance, OH 986,828 120.38 18.59 10.79 9.61 1.23 3.95 11,638 16,554 9.72 69.30
95 Fidelity D & D Bancorp (FDBC) Dunmore, PA 981,102 225.38 59.95 10.78 12.36 1.20 3.64 11,006 9,190 4.97 61.67
96 Mountain Commerce (MCBI) Knoxville, TN 849,145 118.37 19.12 10.74 14.41 1.28 3.53 10,183 1,945 4.32 48.52
97 BEO Bancorp (BEOB) Heppner, OR 416,600 34.33 29.00 10.71 10.36 0.98 5.34 3,949 2,738 5.29 68.59
98 Oak Valley Bancorp (OVLY) Oakdale, CA 1,094,887 147.04 18.18 10.70 12.26 1.08 3.89 11,537 4,438 11.62 62.40
99 Killbuck Bancshares (KLIB) Killbuck, OH 521,897 108.99 185.00 10.69 12.73 1.40 3.67 7,383 2,399 8.20 55.56
100 Level One Bancorp (LEVL) Farmington Hills, MI 1,416,215 188.41 24.31 10.69 10.68 1.07 3.92 14,386 7,126 10.06 68.19
101 First Community Bancorp Shelbyville, TN 474,754 NA NA 10.68 4.68 0.56 3.36 2,813 43,454 (0.36) 93.51
102 SVB&T Corp. (SVBT) Jasper, IN 400,954 44.67 79.90 10.68 10.74 1.05 3.51 4,149 5,189 4.46 68.81
103 Huron Valley Bancorp (HVLM) Milford, MI 150,846 12.11 14.10 10.67 12.03 1.21 4.28 1,754 447 6.73 62.08
104 Community Financial (CFGW) Spokane, WA 434,324 45.39 28.35 10.63 13.06 1.27 4.72 5,235 5,225 14.24 69.84
105 American Bank Inc. (AMBK) Allentown, PA 621,969 65.84 11.60 10.61 11.70 1.17 3.10 7,270 1,194 7.33 50.16
106 Centric Financial Corp. (CFCX) Harrisburg, PA 704,396 93.57 10.71 10.59 13.85 1.21 3.95 8,004 4,434 20.59 61.35
107 Chesapeake Financial (CPKF) Kilmarnock, VA 854,766 110.63 27.00 10.59 12.27 1.34 4.35 10,820 18,474 4.88 72.59
108 Northeast Ind. Bancorp (NIDB) Huntington, IN 334,211 43.31 35.90 10.57 11.46 1.28 3.60 4,167 3,259 10.01 63.45
109 Mifflinburg Bancorp (MIFF) Mifflinburg, PA 438,368 44.28 23.65 10.55 12.45 1.14 3.24 4,975 2,141 6.91 56.76
110 Oak Ridge Financial (BKOR) Oak Ridge, NC 453,341 38.16 14.72 10.50 12.33 0.91 3.73 3,980 3,056 6.43 74.38
111 Woodlands Financial (WDFN) Williamsport, PA 414,311 44.71 29.00 10.48 13.82 1.35 3.67 5,460 3,465 4.31 67.47
112 Avidbank Holdings (AVBH) San Jose, CA 917,144 143.24 24.00 10.48 11.83 1.28 4.58 11,120 2,414 18.59 58.41
113 Henderson Bancshares Troy, AL 875,923 NA NA 10.48 12.70 1.42 3.74 12,752 7,763 4.18 56.97
114 Embassy Bancorp (EMYB) Bethlehem, PA 1,099,387 112.50 15.05 10.47 12.10 0.96 3.19 10,079 1,733 4.85 60.51
115 Lighthouse Bank (LGHT) Santa Cruz, CA 303,939 62.09 23.86 10.45 13.47 1.75 5.40 4,937 310 14.26 49.00
116 F & M Bank Corp. (FMBM) Timberville, VA 780,253 104.54 32.56 10.45 9.90 1.19 4.65 9,095 6,709 8.19 69.08
117 Somerset Trust Holding Co. (SOME) Somerset, PA 1,230,098 103.42 42.41 10.43 12.45 0.91 4.39 10,829 12,721 12.72 75.08
118 Evans Bancorp (EVBN) Hamburg, NY 1,388,207 172.45 35.80 10.35 13.20 1.20 3.73 16,356 15,081 12.18 68.07
119 Southwest Georgia Financial (SGB) Moultrie, GA 534,701 49.39 19.40 10.34 11.09 0.92 3.99 4,682 4,361 4.59 72.16
120 Community First Bank of Ind. Kokomo, IN 286,626 NA NA 10.33 11.73 1.23 4.48 3,195 1,811 1.44 63.52
121 Peoples Bancorp (PPBB) Bellingham, WA 1,731,729 302.41 237.50 10.30 12.46 1.40 4.25 23,670 19,324 2.51 65.78
122 Blackhawk Bancorp (BHWB) Beloit, WI 817,287 93.67 28.50 10.29 10.19 1.06 3.83 8,142 11,496 17.00 71.02
123 Colony Bankcorp (CBAN) Fitzgerald, GA 1,251,878 149.22 17.67 10.16 13.32 0.99 3.56 11,917 9,505 3.59 69.51
124 Farmers Bankshares (FBVA) Windsor, VA 478,245 56.89 18.50 10.15 10.16 1.04 3.70 4,875 6,100 13.67 70.18
125 NorthWest Indiana Bancorp (NWIN) Munster, IN 1,096,158 147.24 42.65 10.14 9.88 0.93 3.67 9,337 7,845 15.24 68.81
126 Farmers and Merchants (FMFG) Hampstead, MD 417,158 51.08 30.35 10.10 10.79 1.14 3.84 4,713 1,432 2.12 62.23
127 First Pulaski National Corp. Pulaski, TN 851,418 NA NA 10.09 12.18 1.22 3.84 10,127 5,255 6.33 60.23
128 First Citizens Bancshares (FIZN) Dyersburg, TN 1,703,271 237.69 62.00 10.07 10.23 1.13 3.74 18,823 15,383 5.61 65.27
129 River Valley Community (RVCB) Yuba City, CA 376,986 46.50 19.50 10.05 12.64 1.02 3.20 3,656 563 26.25 55.00
130 West Town Bancorp (WTWB) Raleigh, NC 555,324 60.33 23.00 10.04 16.41 2.24 4.41 12,136 15,097 61.29 77.99
131 Community National Corp. Lexington, TN 156,259 NA NA 10.02 9.14 0.86 4.19 1,288 655 11.10 72.15
132 Farmers & Merchants (FMAO) Archbold, OH 1,116,163 319.77 28.79 10.00 10.86 1.34 3.80 14,949 10,873 9.56 61.64
133 ACNB Corp. (ACNB) Gettysburg, PA 1,647,724 255.70 36.29 9.97 13.62 1.34 3.81 21,748 16,107 14.09 59.87
134 Cortland Bancorp (CLDB) Cortland, OH 714,666 102.22 23.50 9.96 14.36 1.31 3.76 8,835 4,165 (1.89) 64.83
135 First Capital (FCAP) Corydon, IN 794,162 171.59 51.00 9.93 11.47 1.19 3.79 9,266 6,646 6.70 61.13
136 First Guaranty Bancshares (FGBI) Hammond, LA 1,817,211 186.23 21.15 9.92 9.98 0.82 3.41 14,213 7,110 16.66 66.34
137 First Northern Community (FNRN) Dixon, CA 1,249,845 134.08 11.45 9.91 12.00 1.03 3.79 12,551 7,229 9.40 62.31
138 United Security Bancshares (UBFO) Fresno, CA 933,058 180.48 10.65 9.91 13.23 1.61 4.27 14,017 4,483 5.70 54.14
139 BancAffiliated (BAFI) Arlington, TX 751,688 49.73 127.00 9.90 4.17 0.48 2.55 3,413 4,257 (41.87) 70.91
140 Century Next Financial (CTUY) Ruston, LA 462,247 53.17 33.00 9.88 10.85 1.08 4.23 3,429 1,987 32.78 66.52
141 U & I Financial Corp. (UNIF) Lynnwood, WA 304,885 51.35 9.21 9.85 11.01 1.61 4.30 4,507 2,423 12.29 57.02
142 First Bankers Trustshares (FBTT) Quincy, IL 930,044 108.83 35.25 9.84 9.68 0.89 3.04 8,382 17,515 (8.19) 60.68
143 CalWest Bancorp (CALW) Rancho Santa Margarita, CA 195,253 28.73 0.39 9.83 10.32 0.88 3.71 1,623 908 22.23 81.15
144 Citizens First Corp. (CZFC) Bowling Green, KY 475,982 64.33 25.35 9.83 10.12 1.01 3.52 4,819 3,608 3.33 67.74
145 First National of Groton (FIGR) Groton, NY 182,939 33.00 550.00 9.82 11.61 1.51 4.38 2,744 819 (0.10) 54.93
146 Croghan Bancshares (CHBH) Fremont, OH 847,552 115.47 50.75 9.80 10.79 1.45 4.22 12,002 6,220 (0.11) 60.02
147 Security Capital Corp. Batesville, MS 546,716 NA NA 9.80 11.66 1.32 4.38 7,422 8,036 5.48 64.42
148 Heartland Bancshares Sebring, FL 380,287 NA NA 9.74 13.90 1.23 3.21 4,683 1,527 1.13 52.97
149 Solvay Bank Corp. (SOBS) Solvay, NY 908,130 94.68 43.00 9.73 10.97 0.96 2.95 8,539 5,261 3.29 61.75
150 Presidio Bank (PDOB) San Francisco, CA 862,464 166.94 26.75 9.73 14.50 1.42 4.34 11,829 1,221 10.79 55.89
151 Oconomowoc Bancshares (OCNB) Oconomowoc, WI 1,177,084 95.51 285.00 9.71 9.65 0.71 3.48 8,218 15,645 1.85 81.18
152 Jonestown Bank and Trust (JNES) Jonestown, PA 588,729 53.56 22.20 9.70 9.57 0.84 3.55 4,845 3,404 15.22 71.42
153 Pacific Financial Corp. (PFLC) Aberdeen, WA 907,929 119.98 11.34 9.66 12.63 1.25 4.46 11,330 10,031 2.48 71.07
154 Auburn National Bancorp. (AUBN) Auburn, AL 818,077 125.77 35.00 9.66 10.14 1.08 3.40 8,834 3,325 6.49 60.57
155 Dart Financial Corp. (DRTF) Mason, MI 454,157 NA NA 9.65 10.39 0.91 4.17 3,860 10,066 5.34 81.80
156 FCN Banc Corp. (FBVI) Brookville, IN 443,563 52.22 34.75 9.65 11.30 1.19 3.64 5,283 2,310 1.38 61.10
157 Community Bank of Pickens County Jasper, GA 354,215 NA NA 9.63 13.16 1.38 4.34 4,790 2,692 (1.05) 62.77
158 Allegheny Bancshares Franklin, WV 307,536 NA NA 9.63 10.35 1.29 4.51 3,884 2,346 9.29 63.44
159 New Tripoli Bancorp (NTBP) New Tripoli, PA 480,323 61.85 972.00 9.62 9.73 1.10 3.18 5,045 821 0.72 58.00
160 FvCBankcorp (AQFH) Cornelius, NC 460,113 46.33 11.47 9.59 13.46 0.98 3.58 4,248 4,129 11.16 74.79
161 Ledyard Financial Group (LFGP) Hanover, NH 487,261 64.78 20.10 9.59 11.00 1.07 3.37 5,152 12,093 7.51 78.51
162 Bank of Princeton (BPRN) Princeton, NJ 1,251,564 214.29 32.22 9.57 8.37 1.20 3.52 14,708 2,661 8.42 56.69
163 CBC Holding Co. (CBHC) Fitzgerald, GA 158,202 8.20 13.50 9.57 11.56 1.46 4.40 2,200 1,147 5.71 58.13
164 River Financial Corp. (RVRF) Prattville, AL 1,070,362 170.70 30.00 9.57 9.46 1.07 4.10 9,332 6,634 19.80 62.31
165 Benton Financial Corp. (BTOF) Fowler, IN 167,052 20.56 30.00 9.54 10.19 1.42 4.16 2,304 768 7.25 65.82
166 Andover Bancorp (ANDC) Andover, OH 395,770 56.24 23.00 9.50 10.15 0.96 3.21 3,864 3,120 (2.95) 72.35
167 First Farmers and Merchants (FFMH) Columbia, TN 1,365,117 198.62 44.62 9.49 11.44 1.04 3.23 14,213 13,482 6.36 70.08
168 Ballston Spa Bancorp (BSPA) Ballston Spa, NY 534,455 43.82 59.00 9.48 10.91 0.89 3.86 4,554 3,650 6.37 70.76
169 County Bank Corp (CBNC) Lapeer, MI 616,564 79.57 45.55 9.45 12.00 1.13 3.76 6,960 5,613 0.25 66.41
170 Virginia Community (VCBS) Louisa, VA 247,470 27.38 36.50 9.44 9.54 0.97 4.50 2,414 1,391 12.90 78.91
171 Cornerstone Bancorp Palatine, IL 568,354 NA NA 9.43 12.69 1.26 3.78 7,009 4,366 8.97 62.13
172 York Traditions Bank (YRKB) York, PA 482,918 56.01 19.85 9.42 10.01 1.03 3.54 4,728 5,462 6.58 70.23
173 Coastal Financial Corp. (CCB) Everett, WA 952,110 191.36 16.09 9.41 11.40 1.14 4.24 9,701 5,467 16.86 65.08
174 Shore Bancshares (SHBI) Easton, MD 1,483,076 198.60 15.54 9.39 14.81 1.74 3.74 24,997 9,018 12.76 59.58
175 Eagle Financial Services (EFSI) Berryville, VA 799,617 115.03 33.25 9.39 10.67 1.16 4.06 9,001 6,862 8.65 65.87
176 QNB Corp. (QNBC) Quakertown, PA 1,175,452 131.02 37.57 9.36 10.47 0.96 3.13 11,335 5,304 9.13 62.92
177 Bankwell Financial Group (BWFG) New Canaan, CT 1,873,665 225.00 28.95 9.35 10.19 0.94 3.18 17,433 3,678 9.30 58.95
178 Sturgis Bancorp (STBI) Sturgis, MI 431,575 62.07 29.50 9.35 11.19 1.01 3.77 4,373 5,019 (3.84) 73.22
179 Harleysville Financial Corp. (HARL) Harleysville, PA 771,816 92.38 24.50 9.33 11.01 1.01 3.20 7,820 2,597 3.33 57.78
180 Three Shores Bancorp. (TSHR) Orlando, FL 1,882,689 176.46 9.71 9.31 12.79 0.95 2.92 17,172 8,677 2.84 59.10
181 Mission Valley Bancorp (MVLY) Sun Valley, CA 350,968 48.18 14.90 9.30 8.30 1.16 4.94 3,832 2,683 9.47 68.28
182 Pinnacle Bancshares (PCLB) Jasper, AL 220,981 26.09 25.00 9.29 9.86 1.17 3.77 2,596 1,761 5.18 66.43
183 Shore Community Bank (SHRC) Toms River, NJ 267,549 43.26 13.85 9.28 13.60 1.45 3.88 4,002 945 (0.57) 52.73
184 Middlefield Banc Corp. (MBCN) Middlefield, OH 1,248,398 138.18 42.59 9.26 9.94 1.09 3.77 12,431 3,737 8.77 63.47
185 Surrey Bancorp (SRYB) Mount Airy, NC 309,150 60.27 14.77 9.26 11.72 1.69 4.53 5,102 2,646 5.54 58.02
186 Logansport Financial (LOGN) Logansport, IN 173,245 24.98 40.50 9.25 9.76 1.27 3.70 2,231 885 1.98 61.81
187 Peoples Bancorp of N.C. (PEBK) Newton, NC 1,093,251 166.07 27.70 9.23 10.81 1.22 4.39 13,382 15,590 2.63 71.04
188 Grand Bank Corp. (GABK) Marblehead, MA 328,925 67.92 6050.00 9.22 9.60 1.09 3.31 3,534 1,754 15.94 61.30
189 Southern Michigan Bancorp (SOMC) Coldwater, MI 738,831 87.83 38.05 9.20 11.28 1.10 3.77 8,125 6,616 7.74 68.64
190 Central Valley Community (CVCY) Fresno, CA 1,537,836 274.93 20.05 9.20 10.07 1.35 4.44 21,289 8,463 4.76 61.23
191 First Citrus Bancorp. (FCIT) Tampa, FL 403,299 50.94 25.50 9.19 12.13 1.03 4.10 3,895 1,838 9.70 64.68
192 SouthEast Bank Farragut, TN 1,244,226 NA NA 9.19 10.45 0.96 3.94 13,283 8,560 12.36 68.72
193 CMUV Bancorp (CMUV) El Centro, CA 195,530 21.68 9.64 9.18 10.34 1.21 5.49 2,044 604 11.38 62.46
194 Citizens B & T Holdings Guntersville, AL 519,569 NA NA 9.18 10.93 0.99 3.74 4,778 3,249 10.93 71.02
195 Ames National Corp. (ATLO) Ames, IA 1,455,687 255.38 27.63 9.16 10.09 1.23 3.23 17,014 7,738 6.84 52.61
196 CNB Corp. (CNBW) Conway, SC 1,187,973 120.48 74.50 9.16 11.51 1.10 3.12 12,905 9,074 2.26 61.48
197 Riverview Bancorp (RVSB) Vancouver, WA 1,151,225 176.57 7.81 9.15 13.27 1.41 4.32 16,068 11,362 5.19 63.24
198 IFB Holdings (IFBH) Chillicothe, MO 69,973 9.09 51.75 9.14 9.84 1.17 3.35 827 293 (1.93) 60.44
199 Sound Financial Bancorp (SFBC) Seattle, WA 716,735 87.30 34.75 9.13 9.87 0.98 4.25 7,039 4,016 18.58 71.73
200 Codorus Valley Bancorp (CVLY) York, PA 1,807,480 215.92 22.83 9.10 11.42 1.11 3.84 19,542 13,314 10.72 64.09
  Median: Top 200 Institutions 715,701 101.34 27.70 10.69 12.45 1.24 3.85 8,603 4,935 7.25 62.24
  Median: All Institutions 500,795 64.28 21.38 8.04 9.66 0.96 3.73 4,591 3,006 6.37 68.72
  Average: Top 200 Institutions 804,747 121.72 238.96 11.19 12.72 1.29 3.95 10,102 7,269 9.31 61.89
  Average: All Institutionss 659,741 92.31 108.33 7.44 8.96 0.93 3.78 6,481 5,331 8.84 69.62
Source: Capital Performance Group analysis of data from S&P Global Market Intelligence.

Notes: Ranking is of bank holding companies, banks, and thrifts that had total assets of less than $2 billion as of Dec. 31, 2018, and that are publicly traded or report financials to the SEC. Ranking is based on three-year average ROAE for 2016 to 2018. Additional data shown is for the 12 months ended Dec. 31, 2018. Financials are sourced from SEC filings. If unavailable, regulatory financials were used. Excludes institutions that failed to report GAAP or regulatory data for any year during the ranking period. 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% in any quarter. Excludes industrial banks and institutions that operated as a subchapter S corporation at any time during the ranking period. Also excludes institutions that received a tax benefit of greater than 10% of net income in 2016, 2017 or 2018. Using the preceding criteria, 102 publicly traded institutions in this size range were excluded. A total of 601 institutions qualified for the ranking. All data as of March 17, including closing prices.

* Denotes institutions that were acquired or merged between Jan. 1, 2019, and March 21, 2019.
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