Most Efficient Bank Holding Companies

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Most Efficient Bank Holding Companies

Most Efficient Bank Holding Companies
Among the largest 500, in the second quarter of 2003. Dollars in thousands*
Published December 10, 2003
Related Table: Most Improved in Efficiency and Noninterest Expenses
    Efficiency ratio** Noninterest expense June
30 Assets
    2Q '03 Yr. earlier 2Q '03 Yr. earlier Change
1 First Financial Holdings Renton, Wash. 19.80% NA $1,406 NA NA $710,241
2 Hudson City MHC Paramus, N.J. 24.75 24.66% 50,433 $47,235 6.77% 15,456,332
3 New York Community Bancorp Inc. Westbury 27.28 32.19 70,855 69,939 1.31 12,447,098
4 Amboy Bancorp Old Bridge, N.J. 29.03 36.64 13,712 15,258 -10.13 2,193,102
5 West Bancorp Inc. W Des Moines 29.97 30.14 5,786 5,676 1.94 862,874
6 Fidelity Bancshares Inc. Edina, Minn. 30.28 42.79 3,026 2,778 8.93 692,883
7 Intervest Bancshares Corp. New York 30.81 35.83 3,663 3,142 16.58 749,777
8 SBC Inc. Countryside, Ill. 32.27 33.04 5,558 5,200 6.88 720,947
9 W Holding Co. Mayaguez, Puerto Rico 32.3 39.56 39,134 34,394 13.78 9,498,936
10 Doral Financial Corp. San Juan, Puerto Rico 35.02 36.78 90,223 64,299 40.32 9,396,446
11 ITLA Capital Corp. La Jolla, Calif. 35.11 NA 19,862 NA NA 1,564,929
12 North Fork Bancorp Melville, N.Y. 35.93 32.41 175,835 155,363 13.18 22,528,207
13 Bank of Highland Park Financial Ill. 36.43 31.88 3,891 3,390 14.78 670,070
14 GreenPoint Financial Corp. New York 37.09 34.36 247,201 203,826 21.28 22,676,612
15 Bankfirst Corp. Sioux Falls, S.D. 38.16 38.31 45,917 65,866 -30.29 801,860
16 Cathay Bancorp Inc. Los Angeles 38.67 36.09 23,362 21,319 9.58 3,012,630
17 Corus Bankshares Inc. Chicago 38.85 40.28 25,048 23,971 4.49 2,887,176
18 WestAmerica Bancorp San Rafael, Calif. 39.62 41.3 51,011 51,602 -1.15 4,566,825
19 City National Bancshares Miami 40.08 42.37 22,456 21,737 3.31 2,319,272
20 Royal Bancshares of Pennsylvania Narberth 40.13 41.69 8,631 8,686 -0.63 1,195,829
21 Frontier Financial Corp. Everett, Wash. 40.94 40.12 22,386 20,195 10.85 2,060,447
22 Stearns Financial Services St. Cloud, Minn. 41.31 43.41 12,851 13,550 -5.16 944,633
23 Northern Empire Bancshares Santa Rosa, Calif. 41.93 39.95 6,669 5,384 23.87 756,885
24 S & T Bancorp Inc. Indiana, Pa. 42.08 43.28 28,169 24,444 15.24 2,898,600
25 Park National Corp. Newark, Ohio 43.65 44.44 60,559 57,556 5.22 5,002,480
26 Bank of Granite Corp. Granite Falls, N.C. 43.92 42.74 11,548 9,826 17.52 811,361
27 UCBH Holdings Inc. San Francisco 44.06 45.41 37,710 28,265 33.42 5,155,420
28 Horizon Financial Corp Bellingham, Wash. 44.56 47.76 8,915 7,944 12.22 822,834
29 Ocean Bankshares Inc. Miami 44.96 44.24 46,750 45,510 2.72 4,218,859
30 East West Bancorp Inc. San Marino, Calif. 45.05 45.18 36,842 31,469 17.07 3,602,132
31 Fifth Third Bancorp Cincinnati 45.09 43.96 1,175,915 1,027,878 14.4 88,974,290
32 MBT Financial Corp. Monroe, Mich. 45.27 40.81 14,799 13,137 12.65 1,428,904
33 Great Southern Bancorp Inc. Springfield, Mo. 45.42 42.31 16,574 14,106 17.5 1,443,693
34 Bank of the Ozarks Inc. Little Rock 45.62 47.02 14,508 11,694 24.06 1,194,463
35 Valley View Bancshares Inc. Overland Park, Kan. 45.73 46.51 25,220 26,269 -3.99 2,378,385
36 INB Financial Corp. McAllen, Tex. 46.21 47.15 7,414 6,124 21.06 761,996
37 Parkway Bancorp Inc. Harwood Heights, Ill. 46.22 45.1 13,365 13,046 2.45 1,520,430
38 Southern Financial Bancorp Warrenton, Va. 46.28 45.39 10,624 8,702 22.09 1,105,375
39 R&G Financial Corp. San Juan, Puerto Rico 46.44 44.34 78,273 53,529 46.23 7,256,132
40 Lauritzen Corp. Omaha 46.49 50.23 21,075 20,129 4.7 1,150,403
41 Pacific Capital Bancorp Santa Barbara, Calif. 46.61 44.56 83,185 71,877 15.73 4,538,463
42 Ames National Corp. Iowa 46.73 41.88 7,283 6,241 16.7 741,724
43 CVB Financial Corp. Ontario, Calif. 46.95 46.87 38,251 33,685 13.55 3,513,011
44 Associated Banc-Corp Green Bay, Wis. 47.26 48.66 177,457 168,083 5.58 15,266,167
45 Cascade Bancorp Bend, Ore. 47.75 48.79 11,514 10,135 13.61 685,653
46 International Bancshares Corp. Laredo, Tex. 47.87 54.38 80,519 83,969 -4.11 6,771,981
47 NSB Holding Corp. Ithaca, N.Y. 47.98 38.54 10,282 6,223 65.23 1,436,800
48 First South Bancorp Inc. Washington, N.C. 48.09 50.01 8,780 7,605 15.45 663,272
49 Valley National Bancorp Wayne, N.J. 48.58 43.89 110,081 92,002 19.65 9,506,570
50 Mercantile Bankshares Corp. Baltimore 48.59 46.16 146,830 134,121 9.48 11,496,301
51 Commercial Bankshares Inc. Miami 48.6 51.78 7,332 7,422 -1.21 752,938
52 National Bankshares Inc. Blacksburg, Va. 48.65 50.85 8,802 8,640 1.88 707,381
53 Prosperity Bancshares Inc. Houston 48.77 49.47 19,790 14,712 34.52 1,983,277
54 Republic Bancorp Inc. Louisville 48.82 57.58 31,286 26,235 19.25 1,848,613
  First Bancorp San Juan, Puerto Rico 48.82 39.75 79,260 64,066 23.72 9,934,314
56 First Citizens Financial Corp. Mason City, Iowa 48.85 48.31 7,071 6,729 5.08 758,075
57 Central Pacific Financial Honolulu 49.04 52.02 25,730 26,009 -1.07 2,088,940
58 Trinity Capital Corp. Los Alamos, N.M. 49.08 49.83 12,041 9,211 30.72 973,292
59 Texas Regional Bancshares McAllen 49.25 46.02 45,724 37,677 21.36 4,074,954
60 National City Corp. Cleveland 49.3 53.96 2,031,047 1,846,145 10.02 123,422,252
61 Hudson Valley Holding Corp. Yonkers, N.Y. 49.32 41.42 16,330 14,840 10.04 1,603,918
62 West Suburban Bancorp Inc. Lombard, Ill. 49.58 52.7 19,471 18,454 5.51 1,674,807
  FirstMerit Corp. Akron, Ohio 49.58 46.46 149,628 138,805 7.8 10,673,905
64 FirstBank Holding Co. Lakewood, Colo. 49.65 47.18 82,678 79,162 4.44 6,535,377
65 Heartland Bancorp Inc. Bloomington, Ill. 49.67 58.69 9,517 8,040 18.37 667,134
66 Hershenhorn Bancorp. Palatine, Ill. 49.69 31.34 6,290 5,938 5.93 675,237
67 United National Corp. Sioux Falls, S.D. 49.83 34.58 130,366 110,649 17.82 979,581
68 Republic First Bancorp Inc. Philadelphia 49.91 61.88 9,376 8,753 7.12 658,886
69 Inwood Bancshares Inc. Dallas 49.94 50.74 8,716 8,703 0.15 722,781
70 Mercantile Bank Corp. Wyoming, Mich. 49.96 49.98 8,390 6,046 38.77 1,034,774
71 Farmers and Merchants Bancorp Archbold, Ohio 50.16 58.12 8,336 8,653 -3.66 724,760
72 American National Corp. Omaha 50.21 48.92 16,183 14,677 10.26 1,218,291
73 First Midwest Bancorp Inc. Itasca, Ill. 50.28 49.52 74,732 74,118 0.83 6,447,638
74 Suffolk Bancorp Riverhead, N.Y. 50.32 48.8 18,267 17,162 6.44 1,369,666
75 Charter One Financial Inc. Cleveland 50.36 44.56 378,240 346,953 9.02 44,248,951
76 Berkshire Bancorp Inc. New York 50.48 54.77 5,439 5,201 4.58 775,321
77 Harleysville Savings Financial Corp. Pa. 50.56 49.89 3,453 3,236 6.71 658,271
78 Massbank Corp. Reading, Mass. 50.57 47.43 6,274 6,021 4.2 1,009,353
79 NEB Corp. Fond du Lac, Wis. 50.6 49.16 12,383 11,203 10.53 1,004,501
80 U.S. Bancorp Minneapolis 50.92 48.86 3,275,200 2,958,500 10.7 194,899,000
81 Midwest Banc Holdings Inc. Melrose Park, Ill. 51 45.49 21,456 16,663 28.76 2,285,062
82 Glacier Bancorp Inc. Kalispell, Mont. 51.16 53.52 32,865 30,810 6.67 2,511,361
83 Arrow Financial Corp. Glens Falls, N.Y. 51.2 51.52 16,253 16,186 0.41 1,317,158
84 Republic Bancorp Inc. Owosso, Mich. 51.52 51.06 53,233 50,165 6.12 5,030,955
85 Comerica Inc. Detroit 51.56 48.89 726,953 739,940 -1.76 59,133,300
86 Camden National Corp. Maine 51.57 52.7 15,052 15,883 -5.23 1,279,273
87 Durant Bancorp Okla. 51.58 56.48 12,472 12,287 1.51 920,810
88 Summit Financial Group Inc. Moorefield, W.Va. 51.59 52.93 6,781 6,265 8.24 716,193
89 United Bancorp. of Wyoming Jackson 51.6 55.55 10,177 9,727 4.63 787,584
90 City National Corp. Beverly Hills 51.63 48.81 176,728 161,732 9.27 12,357,643
91 Wilson Bank Holding Co. Lebanon, Tenn. 51.82 51.32 10,380 9,080 14.32 851,389
92 Hillcrest Bancshares Inc. Overland Park, Kan. 51.86 52.04 9,559 8,788 8.77 1,023,288
93 Hometown Community Bancorp Morton, Ill. 51.89 49.28 6,509 5,102 27.58 944,344
94 City Holding Co. Cross Lanes, W.Va. 51.99 60.19 32,597 35,363 -7.82 1,983,174
95 Chemical Financial Corp. Midland, Mich. 52.03 51.7 47,449 47,127 0.68 3,587,829
96 First National Community Bancorp Dunmore, Pa. 52.08 52.09 7,290 6,905 5.58 778,220
  Fishback Financial Corp. Brookings, S.D. 52.08 63.01 13,152 15,590 -15.64 751,491
98 Hills Bancorp. Hills, Iowa 52.18 57.55 13,421 11,919 12.6 1,153,320
99 First Financial Bankshrs Inc. Abilene, Tex. 52.22 51.98 30,626 28,911 5.93 2,028,325
100 SouthTrust Corp. Birmingham, Ala. 52.23 55.26 630,102 643,405 -2.07 51,844,025
101 MBNA Corp. Wilmington, Del. 52.61 54.18 2,515,771 2,303,964 9.19 57,210,117
102 Citizens and Northern Corp. Wellsboro, Pa. 52.62 51.65 10,889 10,354 5.17 1,059,335
103 Bank of America Corp. Charlotte 52.64 52.22 9,774,000 9,009,000 8.49 769,179,000
104 First Community Bancshares Bluefield, Va. 52.69 51.08 25,363 21,521 17.85 1,701,418
105 Cummins-American Corp. Glenview, Ill. 52.74 41.8 11,312 8,444 33.96 941,825
106 Second Bancorp Inc. Warren, Ohio 52.81 61.02 29,159 24,545 18.8 1,926,231
107 Emigrant Bancorp Inc. New York 52.82 44.46 96,986 69,961 38.63 10,094,104
108 Wilber Corp. Oneonta, N.Y. 52.84 49.69 8,110 7,393 9.7 729,405
109 Oak Hill Financial Inc. Jackson, Ohio 52.85 55.45 11,962 10,973 9.01 863,941
110 Oriental Financial Group Inc. San Juan, Puerto Rico 52.92 54.99 28,348 26,263 7.94 3,039,468
111 Central Coast Bancorp Salinas, Calif. 52.96 48.71 11,460 9,810 16.82 950,835
112 Hudson United Bancorp Mahwah, N.J. 52.97 46.8 109,732 130,500 -15.91 7,988,273
113 United Bankshares Inc. Charleston, W.Va. 53.01 48.3 78,239 67,142 16.53 5,753,006
114 Virginia Commerce Bancorp Arlington 53.18 58.69 9,951 8,180 21.65 799,985
115 First National Bank Group Edinburg, Tex. 53.26 49.06 19,590 15,257 28.4 1,781,737
116 Citizens Bancshares Co. Chillicothe, Mo. 53.29 56.04 10,230 10,377 -1.42 973,584
117 AmSouth Bancorp. Birmingham, Ala. 53.31 52.42 588,228 586,462 0.3 43,861,140
118 Fulton Financial Corp. Lancaster, Pa. 53.34 53.13 113,947 111,538 2.16 8,619,287
119 Main Street Trust Inc. Champaign, Ill. 53.56 56.11 16,185 17,330 -6.61 1,126,482
120 Peoples Bancorp Inc. Marietta, Ohio 53.6 55.03 19,746 17,774 11.09 1,860,090
  Southwest Bancorp Inc. Stillwater, Okla. 53.6 55.89 18,187 16,069 13.18 1,520,443
122 New Lenox Holding Co. Ill. 53.64 53.76 9,220 8,591 7.32 977,189
123 USB Holding Co. Orangeburg, N.Y. 53.68 48.23 22,388 19,220 16.48 2,720,820
124 First Bancorp Troy, N.C. 53.71 55.51 18,556 16,484 12.57 1,327,185
125 Security National Corp. Sioux City, Iowa 53.84 48.02 11,259 10,316 9.14 795,143
126 Main Street Banks Inc. Kennesaw, Ga. 53.88 52.57 23,939 18,435 29.86 1,908,622
127 Minnwest Corp. Minnetonka, Minn. 53.98 52.74 10,288 9,971 3.18 854,425
128 Hanmi Financial Corp. Los Angeles 54.03 51.9 19,183 16,159 18.71 1,648,841
129 First National Bank Holding Scottsdale, Ariz. 54.15 56.24 44,691 34,382 29.98 1,442,673
130 First Co. Bancorp Collinsville, Ill. 54.16 51.67 8,388 6,495 29.15 659,006
131 Interchange Financial Services Saddle Brook, N.J. 54.27 57.3 14,222 12,425 14.46 1,312,101
132 Sky Financial Group Inc. Bowling Green, Ohio 54.29 54.58 157,925 130,675 20.85 12,727,061
133 Home Federal Bancorp Columbus, Ind. 54.32 52.75 10,772 10,128 6.36 872,739
134 First Busey Corp. Urbana, Ill. 54.41 55.14 20,257 18,395 10.12 1,500,212
135 Peapack-Gladstone Financial Corp. Gladstone, N.J. 54.42 52.14 11,241 10,472 7.34 957,294
136 Orion Bancorp Inc. Naples, Fla. 54.47 54.65 10,274 8,242 24.65 829,386
137 IberiaBank Corp. Lafayette, La. 54.52 55.55 24,399 21,243 14.86 2,009,297
  American State Financial Corp. Lubbock, Tex. 54.52 53.65 20,877 19,779 5.55 1,534,606
139 First Federal Financial Corp. Elizabethtown, Ky. 54.78 NA 8,609 NA NA 673,825
140 Farmers National Banc Corp. Canfield, Ohio 54.86 61.09 9,066 8,690 4.33 798,500
141 RCB Holding Co. Claremore, Okla. 54.89 51.96 9,121 8,425 8.26 671,652
142 Porter Bancorp Inc. Shepherdsville, Ky. 54.9 57.4 8,208 7,645 7.36 727,118
143 Stockman Financial Corp. Miles City, Mont. 54.92 59.83 10,938 9,773 11.92 866,193
144 Shore Bancshares Inc. Easton, Md. 55.11 53 9,553 7,253 31.71 673,110
145 Compass Bancshares Birmingham, Ala. 55.31 55 391,054 362,037 8.01 25,732,317
  CNB Financial Corp. Clearfield, Pa. 55.31 60.21 9,169 9,295 -1.36 705,579
147 Port Financial Corp. Brighton, Mass. 55.33 59.93 15,230 14,312 6.41 1,528,048
148 Amarillo National Bancorp Tex. 55.48 56.58 21,839 22,082 -1.1 1,430,961
149 Univest Corp. of Pennsylvania Souderton 55.55 54.82 19,877 18,884 5.26 1,524,676
150 Bank of Kentucky Financial Corp. Crestview Hills 55.56 49.69 10,069 6,339 58.84 789,506



*Consolidated data from Y9-C reports; includes U.S. units of foreign holding companies.
**Noninterest expense divided by (total income minus interest expense)
Source: Sheshunoff Information Services, a division of Thomson Corp.
© 2003 American Banker