Cautiously optimistic: The top 200 publicly traded community banks

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A minor dip in profitability this past year belies the promise of what's ahead for publicly traded banks and thrifts with less than $2 billion of assets.

The median return on average equity for the 633 institutions that fit the criteria for our annual ranking fell by 58 basis points in 2017, to 6.95%.

By comparison, the institutions that ranked in the top 200 posted a more comfortable median ROAE of 9.89%. But that is still a drop of 47 basis points from the previous year.

Kevin Halsey, a consultant at Capital Performance Group, blamed the decline on a particular one-time item, rather than any performance issues. Because of corporate tax reform, many banks had to write down deferred tax assets in the fourth quarter, hampering overall profitability.

"It was actually a decent year for the banking industry, even among the community banks, which have traditionally underperformed their larger counterparts," Halsey said.

With the help of rising interest rates, lower corporate taxes and reduced regulation, "it's going to be an even better 2018," he added.

But community banks still have serious challenges ahead, particularly in the competition for low-cost deposits against the more digitally savvy megabanks.

“The larger banks are doing a much better job of banking millennials, a segment that all of a sudden now has jobs and has money,” Halsey said. “They’re much better positioned than the community banks with their marketing budgets and with their digital presence to really grow core funding from the consumer base.”

See rankings from past years:

The top performers in our ranking — which is based on ROAE across three years — posted a median ratio of core deposits to total deposits of 75.63% last year, up 85 basis points from a year earlier, according to an analysis by CPG. The overall peer group also boosted core deposits, with its ratio of 73.88% improving by 70 basis points.

But that growth rate is roughly a third of what it had been in the previous year.

“I don’t know if I would use the word ‘scary’ — credit quality going south would be scary, I’m not sure this is scary,” Halsey said. “But I think it highlights the struggle that community banks have today gathering deposits.”

Even so, price competition remained muted.

Though the Federal Reserve raised interest rates several times last year, the median cost of funds for these small banks barely budged, rising 3 basis points for the top 200, to 0.49%, and 4 basis points for the peers, to 0.52%.

This helped efficiency ratios improve at an accelerated pace compared with a year earlier (160 basis points better for the top 200, for a median of 62.06%, and 239 basis points better for the peers, for a median of 68.76%).

Halsey also cited continued asset growth as a key factor contributing to the efficiency gains, a trend we’ve highlighted previously.

Of the institutions that qualified for this ranking last year, 20 had pumped up their asset size to more than $2 billion as of Dec. 31, including nine from the top 200.

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

For American Banker’s paid subscribers: If you have a paid subscription to American Banker, you can request an Excel chart with all 633 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 25 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.

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Cautiously optimistic: 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) Efficiency Ratio (%) Total Risk-Based Capital (%)
1 First Home Bancorp (FHBI) Saint Petersburg, FL 260,579 NA NA 29.11 23.17 2.53 4.29 5,473 27,252 60.24 16.96
2 MetroCity Bankshares (MCBS) Doraville, GA 1,292,216 260.29 22 22.69 27.09 2.77 4.75 31,883 32,362 36.91 16.65
3 University Bancorp (UNIB) Ann Arbor, MI 226,986 46.55 8.95 21.97 23.24 2.48 3.96 4,636 34,127 87.41 12.63
4 Oregon Bancorp (ORBN) Salem, OR 204,892 32.7 30.8 19.59 23.41 2.59 4.1 4,963 30,415 75.85 14.82
5 Thomasville Bancshares (THVB) Thomasville, GA 805,465 237.77 40 17.35 16.86 1.53 3.75 12,062 12,190 48.65 11.19
6 Plumas Bancorp (PLBC) Quincy, CA 745,427 125.07 24.65 15.35 15.38 1.18 4.35 8,189 8,438 55.09 13.23
7 First Commerce Bank (CMRB) Lakewood, NJ 1,017,122 152.2 6.76 15.28 14.25 1.57 4.28 15,336 1,381 35.97 14.82
8 Union Bankshares (UNB) Morrisville, VT 745,831 241.14 54 14.86 14.53 1.21 4.19 8,449 9,378 64.06 13.66
9 US Metro Bank (USMT) Garden Grove, CA 325,326 61.67 3.8 14.65 15.3 2.67 3.92 6,700 7,024 60 21.69
10 Coastal Banking Co. (CBCO) Beaufort, SC 606,365 78.7 21.25 14.61 12.57 1.22 3.96 6,992 21,244 71.17 25.29
11 Bridgewater Bancshares (BWB) Bloomington, MN 1,616,612 337.11 12.86 14.52 13.18 1.16 3.92 16,889 2,430 43.03 12.46
12 BancAffiliated (BAFI) Arlington, TX 627,080 67.29 73.5 14.49 10.43 1.06 4.72 6,497 9,346 66.85 12.9
13 First IC Corp. (FIEB) Doraville, GA 403,938 73.02 11.1 14 13.72 2.19 4.46 8,040 10,728 51.93 19.59
14 First Farmers Financial (FFMR) Converse, IN 1,676,654 265.26 74 13.91 14.76 1.34 3.88 21,749 12,117 54.32 13.35
15 FFD Financial Corp. (FFDF) Dover, OH 357,687 45.37 45.65 13.84 14.68 1.33 3.7 4,403 1,632 54.69 12.14
16 FS Bancorp (FSBW) Mountlake Terrace, WA 981,783 195.53 55.24 13.74 14.78 1.53 4.65 14,085 22,632 68.24 15.7
17 Greene County Bancorp MHC (GCBC) Catskill, NY 1,060,810 316.28 37.15 13.57 15.37 1.3 3.57 12,866 6,890 50.08 15.71
18 First General Bank (FGEB) Rowland Heights, CA 908,053 NA NA 13.26 11.73 1.31 3.69 11,636 1,969 31.52 15.57
19 Unity Bancorp (UNTY) Clinton, NJ 1,455,496 241.31 22.6 13.24 11.41 1.02 3.83 12,893 8,208 55.21 12.87
20 First Community Bancorp Shelbyville, TN 481,823 NA NA 13.23 12.77 1.55 3.44 7,331 49,048 86.74 14.22
21 Citizens Bank Carthage, TN 582,586 NA NA 13.16 12.6 2.17 4.57 12,535 2,562 26.65 29.58
22 Santa Cruz County Bank (SCZC) Santa Cruz, CA 629,964 121.84 50.2 12.97 12.27 1.11 4.33 6,758 3,260 50.35 12.87
23 United American Bank (UABK) San Mateo, CA 330,328 36.06 37.95 12.91 15.76 1.47 3.26 4,707 999 74.23 14.72
24 Seacoast Commerce (SCBH) San Diego, CA 938,927 186.01 20.3 12.91 4.2 0.36 5.34 2,288 9,677 71.16 13.55
25 First Commerce Bancorp Lewisburg, TN 355,222 NA NA 12.69 12.7 1.13 4.14 3,983 1,133 51.37 12.01
26 Trinity Bank, N.A. (TYBT) Fort Worth, TX 259,311 65.3 59.05 12.6 10.06 1.23 3.49 3,068 515 40.56 20.6
27 Pacific City Financial Corp. (PFCF) Los Angeles, CA 1,441,998 201.2 15 12.52 12 1.22 4.25 16,403 13,894 51.84 13.2
28 Fentura Financial (FETM) Fenton, MI 781,443 71.68 19.75 12.51 15.8 1.17 4.08 8,676 8,988 66.2 10.46
29 Truxton Corp. (TRUX) Nashville, TN 437,683 96.16 35.5 12.47 12.63 1.45 3.31 6,178 9,919 60.67 15.28
30 Minster Financial Corp. (MTFC) Minster, OH 476,462 57.53 55 12.38 11.74 0.98 3.22 4,566 3,422 57.7 15.13
31 Home Loan Financial Corp. (HLFN) Coshocton, OH 215,125 39.35 28.1 12.35 11.58 1.45 4.13 3,040 1,208 53.56 16.36
32 Bank of South Carolina Corp. (BKSC) Charleston, SC 446,566 104.81 21 12.22 11.37 1.14 3.76 4,902 2,223 56.48 15.97
33 Summit Bank (SBKO) Eugene, OR 335,689 62.4 15.47 12.19 9.94 1.05 5.56 3,283 1,358 51.89 12.9
34 Susquehanna Community (SQCF) West Milton, PA 413,407 67.9 23 12.14 12.72 1.25 3.29 5,055 2,553 61.34 14.09
35 CBB Bancorp (CBBI) Los Angeles, CA 1,078,854 165.55 18.15 12.05 10.92 1.23 4.17 12,050 13,441 53.09 14.78
36 Cambridge Bancorp (CATC) Cambridge, MA 1,949,934 347.8 85.2 12.05 10.47 0.79 3.25 14,816 30,227 66.43 13.75
37 Heartland BancCorp (HLAN) Gahanna, OH 900,087 142.44 88.25 12.05 11.81 1.05 4 8,873 4,216 61.42 12.42
38 Marlin Business Services (MRLN) Mount Laurel, NJ 1,040,160 346.29 28.45 12.01 15.38 2.59 8.07 25,292 31,596 55.49 19.47
39 First Bancorp (FBLV) Lebanon, VA 1,713,231 253.57 61.15 11.99 11.31 1.22 3.77 20,134 13,275 54.5 16.26
40 Lyons Bancorp (LYBC) Lyons, NY 1,031,930 122.58 38.39 11.86 10.68 0.84 3.58 8,397 9,098 64.97 12.3
41 Timberland Bancorp (TSBK) Hoquiam, WA 993,895 224.66 30.45 11.83 13.63 1.56 4.13 14,634 12,234 57.28 17.74
42 Parke Bancorp (PKBK) Sewell, NJ 1,137,452 173.68 21.65 11.83 8.86 1.12 4.01 11,838 3,110 33.73 17.17
43 National Capital Bank of Wash. (NACB) Washington, DC 429,752 66.13 229 11.67 4.32 0.47 3.26 1,971 1,904 78.61 19.85
44 Cass Information Systems (CASS) Saint Louis, MO 1,603,209 759.2 61.79 11.65 11.55 1.6 3.34 25,014 95,512 70.91 22.53
45 Bank First National Corp. (BFNC) Manitowoc, WI 1,753,404 311.36 45.75 11.65 11.29 1.04 3.45 15,313 7,458 51.8 10.8
46 Merchants Bancorp Hillsboro, OH 677,878 NA NA 11.52 10.97 1.08 3.89 7,298 3,233 53.38 13.45
47 Southern Missouri Bancorp (SMBC) Poplar Bluff, MO 1,776,697 338.19 37.69 11.49 11.27 1.09 3.79 17,699 12,132 57.46 12.93
48 1st Summit Bancorp (FSMK) Johnstown, PA 1,041,013 123.02 112 11.46 10.58 0.98 3.22 9,892 5,116 57.82 19.37
49 F.S. Bancorp (FXLG) Lagrange, IN 734,008 98.83 90 11.43 11.5 1.14 3.68 7,520 5,378 59.78 14.22
50 PSB Holdings (PSBQ) Wausau, WI 847,681 105.13 69.75 11.42 9.82 0.87 3.54 7,187 6,103 59.29 14.12
51 Farmers Bancorp (FABP) Frankfort, IN 540,651 88.62 42.5 11.36 10.63 1.08 3.9 5,702 4,635 61.72 12.96
52 Southern First Bancshares (SFST) Greenville, SC 1,624,625 337.67 45.85 11.27 9.66 0.87 3.57 13,045 9,383 56.69 13.27
53 CNB Community Bancorp (CNBB) Hillsdale, MI 621,518 66.6 31.7 11.24 12.66 1.01 4 6,046 6,004 70 13.26
54 Crystal Valley Financial (CYVF) Middlebury, IN 539,847 79.23 50.9 11.23 11.79 1.29 4.07 6,864 4,483 62.06 14.66
55 Country Bank Holding Co. (CYHC) New York, NY 686,340 38.74 20000 11.23 13.47 1.28 4.23 8,389 459 53.05 13.47
56 First Sentry Bancshares (FTSB) Huntington, WV 739,250 109.19 69.85 11.2 10.71 0.95 3.35 6,435 1,955 53.08 14.07
57 1st Colonial Bancorp (FCOB) Cherry Hill, NJ 540,131 49.52 11.98 11.16 11.27 0.78 3.36 4,043 3,817 62.9 12.36
58 SouthEast Bank Farragut, TN 1,490,584 NA NA 11.14 10.11 0.84 3.8 11,393 5,875 65.86 14.59
59 Bank of Princeton (BPRN) Princeton, NJ 1,200,591 215.86 32.95 11.1 8.3 1.02 3.8 11,014 2,813 55.54 17.12
60 Chino Commercial Bancorp (CCBC) Chino, CA 192,801 29.83 19.25 11.1 10.45 0.84 3.7 1,571 1,529 62.85 17.3
61 Merchants Financial Group (MFGI) Winona, MN 1,659,234 204.47 75 11.07 13.45 1.26 4.29 20,878 15,321 64.52 13.55
62 Commercial National (CEFC) Ithaca, MI 526,373 46.79 11.8 11.02 10.89 0.67 3.05 3,419 1,923 66.03 13.43
63 Peoples Limited (PPLL) Wyalusing, PA 347,868 37.59 62.05 11.01 10.36 0.9 3.44 3,027 2,831 64.08 14.69
64 Community National Corp. Lexington, TN 145,650 NA NA 11 9.81 0.92 4.52 1,306 620 64.31 13.12
65 FFW Corp. (FFWC) Wabash, IN 374,401 50.71 43.49 10.94 12.54 1.23 3.89 4,533 2,612 60.07 14.23
66 Mission Bancorp (MSBC) Bakersfield, CA 635,404 103.71 62.1 10.94 12.08 1.01 3.93 6,094 4,717 54.52 11.08
67 Civista Bancshares (CIVB) Sandusky, OH 1,525,857 231.44 22.67 10.89 9.19 1.04 3.88 15,872 16,350 67.77 16.53
68 Hamlin Bank and Trust Co. (HMLN) Smethport, PA 425,373 119.59 321 10.88 12.2 2.01 3.67 8,804 1,279 53.08 26.73
69 High Country Bancorp (HCBC) Salida, CO 257,225 38.5 41.85 10.87 9.68 1 4.97 2,450 1,630 65.68 13.76
70 Baker Boyer Bancorp (BBBK) Walla Walla, WA 606,426 87.92 68 10.87 10.69 0.91 3.24 5,499 12,577 74.45 16.67
71 Cashmere Valley Bank (CSHX) Cashmere, WA 1,516,014 275.71 67 10.86 10.6 1.23 3.2 18,408 9,841 56.06 18.86
72 SB Financial Group (SBFG) Defiance, OH 876,627 123.78 18.96 10.81 12.36 1.29 3.78 11,065 17,098 68.93 11.54
73 HomeTown Bank Galveston, TX 586,325 NA NA 10.75 10.22 1.07 3.91 6,170 2,239 57.34 16.92
74 F & M Bank Corp. (FMBM) Timberville, VA 753,270 113.37 34.5 10.73 10.11 1.22 4.52 9,042 6,763 66.88 15.41
75 Northeast Indiana Bancorp (NIDB) Huntington, IN 314,176 43.74 36 10.73 9.69 1.12 3.56 3,413 2,668 64.22 15.93
76 Capital Bank of N.J. (CANJ) Vineland, NJ 473,273 50.07 20.11 10.71 10.75 0.99 3.44 4,654 1,534 56.75 13.07
77 LifeStore Financial Group MHC (LSFG) West Jefferson, NC 284,153 25.32 24.1 10.69 11.94 0.99 3.12 2,743 7,987 75.83 17.01
78 Farmers and Merchants (FMFG) Hampstead, MD 402,904 51.7 31 10.64 9.4 0.96 3.96 3,789 1,486 62.12 12.54
79 West Town Bancorp (WTWB) Raleigh, NC 544,134 81.48 27.6 10.63 6.7 0.83 4.53 2,892 11,534 67.61 NA
80 Malaga Financial Corp. (MLGF) Palos Verdes Estates, CA 1,041,067 195.87 30 10.58 11.12 1.33 3.25 13,500 753 33.98 24.18
81 Communities First Financial (CFST) Fresno, CA 407,418 59.83 20.95 10.56 11.24 1 4.11 3,683 1,687 55.94 16.9
82 Citizens Financial Services (CZFS) Mansfield, PA 1,361,886 217.07 62.3 10.49 10.04 1.03 3.8 13,025 7,621 53.77 13.2
83 Forsyth Bancshares Cumming, GA 303,203 NA NA 10.48 11.19 1.02 3.83 3,062 717 54.78 14.92
84 BEO Bancorp (BEOB) Heppner, OR 414,500 35.68 30 10.44 8.53 0.79 5.2 3,094 2,423 68.96 12.13
85 PBB Bancorp (PBCA) Los Angeles, CA 626,364 98.85 19.9 10.43 9.87 0.88 3.82 4,769 2,178 61.17 11.26
86 Steuben Trust Corp. (SBHO) Hornell, NY 525,099 72.47 43.5 10.4 10.02 1.03 3.51 5,404 4,395 60.6 17.72
87 Community Bancorp. (CMTV) Derby, VT 667,046 92.02 18 10.37 11.16 0.96 4.01 6,231 5,165 64.3 13.93
88 Redwood Financial (REDW) Redwood Falls, MN 293,609 19.35 48 10.33 9.54 1.14 4.56 3,160 2,947 66.46 16.76
89 RBB Bancorp (RBB) Los Angeles, CA 1,691,059 429.06 26.97 10.33 11.67 1.66 4.16 25,528 13,059 37.03 22.5
90 First Bancorp (FNLC) Damariscotta, ME 1,842,930 313.14 28.87 10.31 10.91 1.1 3.04 19,588 12,077 50.03 15.24
91 CSB Bancorp (CSBB) Millersburg, OH 707,063 96.66 35.25 10.28 10.33 1.02 3.8 7,101 4,340 58.96 13.78
92 Embassy Bancorp (EMYB) Bethlehem, PA 996,966 118.82 15.9 10.23 9.37 0.75 3.15 7,300 3,005 60.34 12.5
93 First Bankers Trustshares (FBTT) Quincy, IL 942,949 103.43 33.5 10.21 8.71 0.8 3.06 7,392 17,179 67.51 16.17
94 Benchmark Bankshares (BMBN) Kenbridge, VA 595,226 97.76 18.95 10.18 9.2 1.08 4.69 6,131 6,147 63.86 17.03
95 NorthWest Indiana Bancorp (NWIN) Munster, IN 927,259 126.81 44.2 10.15 9.9 0.98 3.63 8,961 6,789 67.38 13.97
96 First Citizens Bancshares (FIZN) Dyersburg, TN 1,656,250 199.51 52.05 10.12 10.1 1.05 3.83 17,011 15,480 62.11 16.01
97 Chesapeake Financial Shares (CPKF) Kilmarnock, VA 785,231 122.06 30 10.08 11.3 1.18 3.81 8,949 27,350 77.05 15.37
98 First Ottawa Bancshares (FOTB) Ottawa, IL 286,347 36.05 59.05 10.05 11 1.21 4.08 3,427 2,977 63.9 15.59
99 Sunwest Bank Irvine, CA 1,176,882 NA NA 10.03 9.87 1.25 5.07 12,885 1,650 57.33 13.4
100 Community First Bank of Ind. Kokomo, IN 260,251 NA NA 9.98 8.21 0.86 4.31 2,114 2,116 65.6 12.4
101 New Tripoli Bancorp (NTBP) New Tripoli, PA 442,266 62.04 975 9.98 8.68 1.05 3.89 4,443 797 52.7 18.09
102 Security National Corp. (SNLC) Dakota Dunes, SD 1,397,723 311.73 172.5 9.97 7.6 0.83 3.02 11,837 21,282 57.23 16.84
103 Somerset Trust Holding Co. (SOME) Somerset, PA 1,143,349 107.28 44 9.94 7.85 0.59 4.01 6,614 11,751 77.16 11.86
104 Oak Ridge Financial Services (BKOR) Oak Ridge, NC 430,712 36 15.25 9.93 9.95 0.71 3.8 2,893 2,795 75.55 12.81
105 Choice Bancorp (CBKW) Oshkosh, WI 400,064 46.81 20.25 9.93 6.94 0.58 3.31 2,082 746 49.87 13.23
106 U & I Financial Corp. (UNIF) Lynnwood, WA 274,029 43.34 8.3 9.92 8.46 1.29 3.95 3,195 1,571 64.24 19.82
107 First Guaranty Bancshares (FGBI) Hammond, LA 1,750,430 250.04 28.39 9.88 8.59 0.71 3.33 11,751 6,943 61.37 12.14
108 Blackhawk Bancorp (BHWB) Beloit, WI 720,500 91.04 27.85 9.86 8.73 0.89 3.56 6,200 10,128 71.56 14.74
109 Home City Financial Corp. (HCFL) Springfield, OH 165,045 23.82 29.16 9.85 11.53 1.32 3.54 2,169 467 60.17 18.51
110 Fidelity D & D Bancorp (FDBC) Dunmore, PA 863,637 184.76 49.25 9.84 10.34 1.03 3.7 8,716 8,514 65.06 14.9
111 Mifflinburg Bancorp Mifflinburg, PA 424,461 NA NA 9.82 9.73 0.9 3.27 3,794 2,020 54.79 14.12
112 Mid Penn Bancorp (MPB) Millersburg, PA 1,170,354 193.42 31.6 9.78 9.48 0.64 3.68 7,089 5,651 68.92 11.29
113 Southwest Georgia Financial (SGB) Moultrie, GA 489,178 51.9 20.42 9.77 9.41 0.8 4.09 3,807 4,125 74 13.55
114 Mission Valley Bancorp (MVLY) Sun Valley, CA 330,399 49.25 15.35 9.76 9.92 1.11 4.31 3,551 4,088 64.43 15.6
115 Town and Country Financial (TWCF) Springfield, IL 747,542 62.17 21.76 9.75 11.09 0.76 3.34 5,645 10,244 76.87 12.72
116 State Bank Corp. (SBAZ) Lake Havasu City, AZ 620,637 96.62 12 9.66 11.06 1.04 3.78 6,294 5,204 63.52 14.8
117 OP Bancorp (OPBK) Los Angeles, CA 900,999 151.92 11.5 9.65 10.63 1.13 4.61 9,236 8,986 58.75 13.49
118 American Bank Inc. (AMBK) Allentown, PA 580,843 68.68 12.1 9.65 10.89 0.98 3.13 5,560 908 51.8 13.76
119 CBBC Bancorp (CBBC) West Sacramento, CA 336,097 61.81 24.3 9.62 9.89 0.98 4.04 3,085 696 54.64 13.2
120 Jonestown Bank and Trust Co. (JNES) Jonestown, PA 575,611 62.92 27 9.6 9.51 0.83 3.4 4,487 3,739 65.9 11.88
121 Auburn National Bancorp. (AUBN) Auburn, AL 853,381 133.36 36.6 9.6 9.17 0.94 3.29 7,846 3,390 57.62 17.91
122 Foresight Financial Group (FGFH) Winnebago, IL 1,164,202 121.51 33.2 9.57 8.12 0.81 3.5 9,245 6,886 60.14 14.04
123 Citizens First Corp. (CZFC) Bowling Green, KY 465,382 61.97 24.53 9.56 9.2 0.9 3.7 4,089 3,503 66.06 13.07
124 Killbuck Bancshares (KLIB) Killbuck, OH 519,508 89.73 152 9.55 9.89 1.05 3.52 5,323 2,419 55.39 15.42
125 Middlefield Banc Corp. (MBCN) Middlefield, OH 1,106,336 179.93 49.9 9.49 8.52 0.88 3.82 9,455 3,973 61.14 12.41
126 BankGuam Holding Co. (BKGM.F) Hagatna, GU 1,965,720 NA NA 9.48 6.72 0.45 4.25 8,811 34,405 79.74 12.82
127 Macatawa Bank Corp. (MCBC) Holland, MI 1,890,232 357.53 10.51 9.45 9.6 0.93 3.19 16,292 17,416 63.6 14.99
128 Dart Financial Corp. (DRTF) Mason, MI 397,925 NA NA 9.44 10.3 0.94 4.2 3,624 10,860 80.51 12.83
129 Farmers Bankshares (FBVA) Windsor, VA 456,643 58.23 19 9.44 9.48 1.1 3.88 4,505 5,633 64.52 14.04
130 F&M Bancorp (FMOO) Miamisburg, OH 147,192 17.83 56.35 9.43 10.24 1.01 4.32 1,397 706 63.76 15.52
131 Allegheny Bancshares Franklin, WV 288,843 NA NA 9.42 9.3 1.18 4.65 3,371 2,297 59.49 17.28
132 First Bancshares (FIBH) Bellevue, OH 209,700 25.62 45 9.42 8.83 0.86 4.32 1,802 1,283 66.83 11.83
133 Oconomowoc Bancshares (OCNB) Oconomowoc, WI 1,137,519 80.43 240 9.41 10.47 0.75 3.39 8,320 17,535 80.82 13.16
134 Kentucky Bancshares (KTYB) Paris, KY 1,053,193 138.66 46.55 9.4 10.93 1.04 3.6 10,717 12,589 68.25 14.9
135 First National Corp. (FXNC) Strasburg, VA 739,110 91.76 18.53 9.38 11.57 0.89 3.77 6,448 8,382 66.43 13.12
136 Highlands Community Bank Covington, VA 142,249 NA NA 9.34 9.01 1.13 4.32 1,590 520 56.78 20.22
137 Farmers & Merchants Bancorp (FMAO) Archbold, OH 1,107,009 379.62 40.97 9.31 9.75 1.18 3.65 12,720 10,688 60.04 15.52
138 First Business Financial Services (FBIZ) Madison, WI 1,794,066 225.61 25.74 9.31 7.16 0.67 3.58 11,905 17,068 69.8 11.98
139 Solvay Bank Corp. (SOBS) Solvay, NY 867,092 88.07 40 9.27 8.94 0.78 2.94 6,784 5,329 60.78 17.21
140 Peoples Bancorp (PPBB) Bellingham, WA 1,665,528 189.72 149 9.26 9.14 0.92 3.93 14,978 21,484 68.19 14.02
141 First Pulaski National Corp. Pulaski, TN 814,054 NA NA 9.26 8.45 0.87 3.78 6,885 5,710 59.3 15.3
142 Huron Valley Bancorp (HVLM) Milford, MI 140,731 10.64 12.5 9.24 9.42 0.91 4.33 1,254 501 62.45 12.58
143 First Federal of S.C. MHC (FSGB) Walterboro, SC 84,049 6.58 6.5 9.21 17.09 1.47 4.02 1,190 1,233 69.37 17.5
144 Woodlands Financial Services (WDFN) Williamsport, PA 396,408 48.1 31.26 9.17 8.37 0.79 3.54 3,174 3,302 67.85 13.78
145 Premier Commercial Bancorp (PRCB) Hillsboro, OR 400,542 88.92 15.2 9.15 8.63 0.85 4.43 3,367 833 65.15 13
146 Ledyard Financial Group (LFGP) Hanover, NH 476,263 69.34 21.75 9.14 8.45 0.8 3.4 3,845 10,794 79.39 16.41
147 Mountain Commerce Bancorp (MCBI) Knoxville, TN 746,860 115.43 19.2 9.11 8.8 0.8 3.54 5,473 1,696 53.15 12.09
148 Muncy Bank Financial (MYBF) Muncy, PA 427,433 49.69 33.95 9.11 6.44 0.69 3.65 2,800 2,465 68.42 16.99
149 Pacific Alliance Bank (PFBN) Rosemead, CA 262,437 34.2 10.9 9.07 6.03 0.72 3.16 1,898 403 53.48 16.07
150 IFB Holdings (IFBH) Chillicothe, MO 73,152 7.42 42.25 9.04 9.23 1.16 3.82 827 321 54.31 29.74
151 Clover Community Bankshares Clover, SC 127,870 NA NA 9.04 7.72 0.8 4.53 1,056 1,202 72.17 16.64
152 MutualFirst Financial (MFSF) Muncie, IN 1,588,932 312.56 36.45 9.03 8.4 0.78 3.38 12,315 17,368 67.07 13.52
153 Pinnacle Bancshares (PCLB) Jasper, AL 217,836 24.21 23.2 9.03 9.05 1.03 3.55 2,296 1,630 66.74 19.39
154 Andover Bancorp (ANDC) Andover, OH 410,640 59.5 23.9 9.01 9.51 0.95 3.68 3,865 2,966 67.16 20.71
155 First Capital (FCAP) Corydon, IN 758,956 144.42 43.02 8.99 9.39 0.99 3.64 7,452 6,626 61.03 14.49
156 Benton Financial Corp. (BTOF) Fowler, IN 158,922 10.29 14.5 8.99 9.07 1.28 4.03 2,037 646 64.99 20.56
157 Northeast Bancorp (NBN) Lewiston, ME 1,034,446 172.99 21.6 8.99 12.54 1.48 5.18 15,378 8,385 58.02 20.3
158 Valley Republic Bancorp (VLLX) Bakersfield, CA 667,625 113.82 29.5 8.98 9.73 0.83 3.24 5,247 1,883 54.69 11.57
159 Logansport Financial Corp. (LOGN) Logansport, IN 168,500 25.61 41.25 8.97 9.06 1.15 3.82 1,990 818 60.64 20.8
160 QNB Corp. (QNBC) Quakertown, PA 1,152,337 153.68 44.5 8.97 8.17 0.74 3.14 8,289 5,387 60.22 12.52
161 FNB Bancorp (FNBG) South San Francisco, CA 1,265,238 285.64 38.29 8.96 9.17 0.85 3.95 10,711 3,650 59.73 12.61
162 Exchange Bankshares (EXCH) Milledgeville, GA 244,573 25.22 39.75 8.96 7.09 0.9 3.81 2,178 1,824 70.03 21.07
163 MBT Financial Corp. (MBTF) Monroe, MI 1,347,420 240.02 10.45 8.95 8.04 0.79 3.33 10,609 15,969 63.55 17.39
164 Ames National Corp. (ATLO) Ames, IA 1,375,060 270.95 29.1 8.95 8.02 1 3.25 13,697 7,415 49.75 17.63
165 S.B.C.P. Bancorp (SBBI) Cross Plains, WI 935,691 55.88 58 8.95 8.02 0.9 3.6 8,086 8,130 64.46 13.55
166 Lighthouse Bank (LGHT) Santa Cruz, CA 261,064 62.6 24.5 8.91 9.14 1.25 4.98 3,007 530 53.28 14.7
167 First Freedom Bancshares Lebanon, TN 444,332 NA NA 8.91 8.06 0.81 4.08 3,501 2,301 58.89 11.64
168 Croghan Bancshares (CHBH) Fremont, OH 842,647 119.44 52.25 8.9 9.06 1.16 4.21 9,570 6,112 63.27 12.9
169 Evans Bancorp (EVBN) Hamburg, NY 1,295,633 222 46.25 8.89 9.11 0.89 3.76 10,479 12,703 70.32 12.97
170 Eagle Financial Services (EFSI) Berryville, VA 765,751 111.06 32.2 8.88 9.5 1.08 4.06 7,786 6,470 67.57 15.22
171 Sound Financial Bancorp (SFBC) Seattle, WA 645,244 90.36 36 8.87 8.13 0.87 4.35 5,125 3,859 68.89 13.08
172 Citizens B & T Holdings (CBTH) Guntersville, AL 452,039 21.3 15.5 8.82 8.23 0.8 4.04 3,486 2,693 68.5 13.8
173 BNCCORP (BNCC) Bismarck, ND 946,150 92.37 26.5 8.81 6.22 0.5 3.18 4,878 17,890 82.9 19.98
174 First Community Financial (FMFP) Mifflintown, PA 504,400 70.3 24.9 8.81 7.7 0.76 3.35 3,711 2,697 65.74 17.65
175 Henderson Bancshares Troy, AL 899,667 NA NA 8.77 10.16 1.08 3.75 9,527 5,247 60.22 14.38
176 Avidbank Holdings (AVBH) San Jose, CA 782,993 147.03 24.95 8.77 7.64 0.78 4.32 5,654 1,887 60.46 13.13
177 Royal Financial (RYFL) Chicago, IL 459,242 40.29 16.07 8.76 2.28 0.23 3.76 761 680 68.34 18.67
178 Oak Valley Bancorp (OVLY) Oakdale, CA 1,034,852 179.06 22.11 8.75 10.41 0.91 3.77 9,094 4,643 61.58 11.3
179 Skagit Bancorp Burlington, WA 928,022 NA NA 8.71 9.64 0.82 3.66 7,381 5,848 67.12 12.99
180 ACNB Corp. (ACNB) Gettysburg, PA 1,595,432 210.01 29.9 8.69 7.12 0.69 3.61 9,788 14,149 62.37 14.04
181 Northrim BanCorp (NRIM) Anchorage, AK 1,519,109 247.73 36.05 8.68 6.98 0.89 4.28 13,478 36,018 73.13 15.9
182 Penns Woods Bancorp (PWOD) Williamsport, PA 1,474,492 201.09 42.88 8.66 6.91 0.69 3.47 9,773 10,299 65.62 11.84
183 Century Next Financial (CTUY) Ruston, LA 283,613 32.84 30.1 8.65 8.7 0.9 4.18 2,355 1,652 61.34 13.26
184 InsCorp (IBTN) Nashville, TN 448,073 50.54 17.4 8.65 6.97 0.73 3.4 3,024 2,670 63.28 11.78
185 County Bank Corp (CBNC) Lapeer, MI 602,033 73.09 41.8 8.64 9.03 0.9 3.79 5,345 5,900 69.33 16.58
186 Peoples Bancorp of N.C. (PEBK) Newton, NC 1,092,166 185.25 30.9 8.64 8.78 0.93 4.18 10,268 13,077 70.46 16.06
187 Grand Bank Corp. (GABK) Marblehead, MA 318,311 69.49 6190.25 8.63 10.45 1.17 3.44 3,698 1,836 52.3 21.72
188 CB Financial Services (CBFV) Carmichaels, PA 934,486 123.9 30.25 8.63 7.53 0.78 3.55 6,944 7,601 66.13 13.89
189 County Bancorp (ICBK) Manitowoc, WI 1,397,045 203.65 30.45 8.62 7.58 0.8 3.11 10,425 7,684 52.49 13.08
190 Liberty Bancorp (LBCP) Kansas City, MO 458,470 58.85 23.8 8.6 8.68 0.99 4.77 4,398 4,208 61.85 11.89
191 LCNB Corp. (LCNB) Lebanon, OH 1,295,638 199.52 19.9 8.59 8.74 0.99 3.58 12,972 10,118 62.41 13.66
192 First Farmers and Merchants (FFMH) Columbia, TN 1,375,819 179.75 40 8.58 8.55 0.76 3.04 10,378 12,219 71.11 13.81
193 Central Valley Community (CVCY) Fresno, CA 1,661,655 284.93 20.72 8.55 7.69 0.94 4.41 14,026 8,034 62.03 14.07
194 Virginia National Bankshares (VABK) Charlottesville, VA 643,886 101.3 42 8.53 10.4 1.04 3.63 6,554 5,881 57.54 12.96
195 Colony Bankcorp (CBAN) Fitzgerald, GA 1,232,755 140.94 16.7 8.47 8.51 0.65 3.46 7,751 9,735 69.11 15.56
196 River Valley Community (RVCB) Yuba City, CA 333,982 43.13 18 8.47 9.46 0.78 2.81 2,572 509 52.61 13
197 Virginia Community Bankshares (VCBS) Louisa, VA 249,763 25.88 34.5 8.46 9.14 0.94 4.49 2,254 1,512 75.96 12.64
198 FVCBankcorp (FVCB) Fairfax, VA 1,052,805 190.78 17.4 8.43 8.64 0.8 3.45 7,690 1,293 57.86 12.83
199 Southern Michigan Bancorp (SOMC) Coldwater, MI 712,345 83.71 36.4 8.41 7.72 0.8 3.69 5,421 6,405 69.32 12.05
200 York Traditions Bank (YRKB) York, PA 441,289 53.32 19 8.39 9.07 0.81 3.49 3,394 5,550 70.88 15.42
Median for the top 200 672,752 97.21 30.63 9.98 9.89 0.99 3.79 6,526 5,185 62.08 14.12
Median for all 633 institutions 473,273 66.60 22.13 7.24 6.95 0.72 3.66 3,174 2,832 68.76 14.83
Average for the top 200 782,448 129.42 191.59 10.68 10.38 1.06 3.86 7,697 7,873 61.74 15.13
Average for all 633 institutions 624,969 96.02 100.99 6.74 6.53 0.68 3.70 4,511 5,372 70.07 16.46
Notes: Ranking is of bank holding companies, banks, and thrifts that had total assets of less than $2 billion as of Dec. 31, 2017, and that are publicly traded or report financials to the SEC. Ranking is based on three-year average ROAE for 2015 to 2017. Additional data shown is for the 12 months ended Dec. 31, 2017. 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 2015, 2016 or 2017. Using the preceding criteria, 128 publicly traded institutions in this size range were excluded. A total of 633 institutions qualified for the ranking. All data as of March 16, including closing prices.

* Denotes institutions that were acquired or merged between Jan. 1, 2018, and April 3, 2018

Source: Capital Performance Group analysis of data provided by S&P Global Market Intelligence.
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