Top banks $2B-$10B: What made the best of them stand out

The top 20 U.S. community banks with assets between $2 billion and $10 billion produced substantially more revenue growth than their peers in 2021 for two main reasons: diverse business operations and a knack for outhustling rivals amid tepid loan demand.

With the coronavirus still imposing substantial uncertainty in the first half of the year, and pandemic-era government stimulus funds coursing through the U.S. economy much of 2021, consumers and businesses were relatively flush with cash and slow to take on new debt.

However, with interest rates exceptionally low last year, refinance activity proved strong. Community banks with mortgage operations and competitive commercial lines of business were among those to win loans away from competitors via refi activity and to drive organic growth, said Claude Hanley, a partner at Capital Performance Group. 

CPG ranks banks in several asset classes by three-year return on average equity for American Banker each year. [See table below showing the latest group.]

The top 20 performers within the $2 billion to $10 billion asset range were able to increase revenue in 2021 at nearly twice the rate of all institutions in the category — 15% versus 8.7%. 

The leading banks “generated significant organic loan growth that drove high revenue growth,” Hanley said in an interview. “It was really all about loan growth in a challenging environment.”

He noted that two of the top three banking companies — No. 1, State Bancshares in Fargo, North Dakota, and No. 3, Union Savings Bank in Cincinnati — have prominent mortgage operations that extend beyond their traditional footprints. The No. 2-ranked Bessemer Group in New York City, in addition to traditional banking, runs a high-end money management business that generates strong fee revenue, Hanley said.

The median return on average equity for the top 20 banks with between $2 billion and $10 billion of assets in 2021 was 20.81%, compared with 12.43% for the broader group of 308 banks.

Click here for an overview of No. 1-10 on American Banker's annual list of the highest-performing banks with less than $2 billion of assets and a full breakdown of all the banks on the roster.

May 17

Net interest margins were under pressure throughout the industry because of low rates and modest loan yields. But the top banks posted a median NIM of 3.33%, or 11 basis points higher than the peer group, largely as a result of greater loan volumes.

The leading banks posted median net loan growth of 8.74%, far higher than the peer group’s 1.46%.

The leading banks were able to boost lending without sacrificing credit quality. Among the top 20, the median ratio of nonperforming assets as a percentage of total assets was just 0.26%. For the broader group it was 0.36%.

For 2022, the year-end results could change notably, Hanley said, given now-surging interest rates and dwindling mortgage refi activity. The Federal Reserve raised rates several times in the first half of the year to combat inflation that reached a four-decade peak in June. Fed officials have signaled that additional hikes are highly likely in the back half of the year.

That noted, Hanley said the top-performing banks often are those with above-average market share in their niche business lines. Even in mortgages, leading banks can maintain healthy loan production levels if they are able to gain more share as others retrench.

Robert Bolton, president of Iron Bay Capital, agreed. He said that, despite inflation and demand headwinds created by higher rates, the economy through the first half of the year maintained solid momentum.

Banks were expected to collectively post loan growth for the second quarter — on top of solid expansion in the first quarter — and while commentary from bankers about loan pipelines during earnings season was mixed, Bolton said many banks remain confident in their loan growth prospects for the full year.

“Higher rates, of course, have an impact, especially if they keep going up,” Bolton said in an interview. “But the bankers I talk with in markets with in-migration and steady population growth, they are still pretty upbeat and see continued growth.”

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The top 200 banks with assets $2 billion to $10 billion (ranked by 3-year average ROAE)

Total Assets ROAA 3-Year Avg ROAE ROAE Net Interest Margin (FTE) Efficiency Ratio (FTE) Total Noninterest Income Net Income Nonperforming Assets/ Total Assets Core Dep Growth Net Loan Growth Revenue Growth
2021 ($000) (%) (%) (%) (%) (%) ($000) ($000) (%) (%) (%) (%)
Rank Institution Name Ticker City State 12/31/21 2021 2019-2021 2021 2021 2021 2021 2021 12/31/21 2020-2021 2020-2021 2020-2021
Median: All Institutions1 3,230,914 1.23 10.92 12.43 3.22 59.06 23,771 40,590 0.36 20.54 1.46 8.66
Median: Top 20 Institutions2 3,097,656 2.12 20.43 20.81 3.33 47.42 32,827 61,128 0.26 24.91 8.74 15.00
1 State Bankshares, Inc. Fargo ND 9,859,673 2.97 28.05 27.64 3.06 50.44 544,748 300,500 0.08 13.39 15.88 43.23
2 The Bessemer Group, Incorporated New York NY 4,846,683 3.46 26.22 27.23 NA NA 802,952 175,769 0.00 23.08 41.13 NA
3 Union Savings Bank Cincinnati OH 3,463,554 2.90 24.54 26.84 2.35 38.45 124,414 122,511 0.42 7.10 (10.61) (7.89)
4 North American Savings Bank, FSB Kansas City MO 2,177,145 2.42 23.34 14.27 4.18 68.37 131,383 56,747 1.51 (6.73) (21.68) (26.10)
5 Leader Bank, National Association Arlington MA 3,077,235 2.30 22.82 18.12 2.93 40.72 72,977 60,313 0.03 58.18 36.01 (6.38)
6 Metro City Bank Doraville GA 3,111,820 2.52 22.03 24.46 4.42 34.86 34,339 61,942 0.48 76.66 53.26 48.15
7 Cache Valley Bank Logan UT 3,083,491 2.07 22.00 27.16 4.09 35.14 10,190 57,058 0.26 31.60 (4.06) 35.77
8 Five Star Bank Rancho Cordova CA 2,557,072 1.83 20.95 19.46 3.76 37.70 5,518 46,960 0.02 25.71 29.35 14.82
9 Woodforest Financial Group, Inc. The Woodlands TX 9,007,816 1.67 20.61 23.64 2.84 72.31 508,377 200,544 0.66 4.62 11.84 9.15
10 Capital Bank, National Association Rockville MD 2,014,131 1.95 20.55 25.57 5.92 66.28 50,362 39,010 0.55 22.66 0.65 15.00
11 Horizon Bank, SSB Austin TX 2,346,206 1.55 20.31 20.81 3.37 50.53 15,055 30,475 0.06 44.73 16.12 16.15
12 KS StateBank Manhattan KS 2,380,483 2.09 19.41 19.09 3.33 31.35 9,550 55,043 0.38 25.03 (3.37) (33.24)
13 INTRUST Financial Corporation Wichita KS 8,041,342 0.83 19.08 15.93 2.68 64.11 72,377 62,107 1.14 24.78 (10.25) 10.86
14 Hingham Institution for Savings HIFS Hingham MA 3,431,165 2.25 18.80 20.62 3.48 20.82 1,151 67,458 0.04 18.79 20.19 20.12
15 Gulf Coast Bank and Trust Company New Orleans LA 2,823,154 1.91 17.43 22.84 6.88 67.20 54,634 48,468 0.37 30.96 (0.20) 22.06
16 Southern BancShares (N.C.), Inc. SBNC Mount Olive NC 4,590,996 2.19 17.06 21.28 2.84 NA 30,314 93,546 0.16 20.71 5.63 7.98
17 Institution for Savings in Newburyport and Its Vicinity Newburyport MA 4,534,739 2.40 16.99 20.37 2.15 60.96 5,324 101,871 0.06 27.64 15.80 17.41
18 First United Bank Dimmitt TX 2,006,835 2.14 16.85 20.81 4.58 44.39 12,267 46,886 0.09 39.08 2.26 27.62
19 United Bank Zebulon GA 2,281,919 1.31 16.63 15.04 2.46 56.81 31,314 34,401 0.26 21.98 (7.71) (2.83)
20 Poppy Bank Santa Rosa CA 4,058,335 1.45 16.62 18.19 2.83 36.13 1,974 65,598 1.97 25.88 19.96 29.24
21 Blue Ridge Bank, National Association Martinsville VA 2,640,347 1.82 16.29 19.62 3.60 60.48 78,340 51,217 0.59 158.94 65.89 69.20
22 FB Corporation Creve Coeur MO 6,977,509 0.82 16.20 12.77 2.60 70.70 61,792 56,000 0.41 9.45 (17.92) (28.86)
23 Preferred Bank PFBC Los Angeles CA 6,046,303 1.69 16.15 17.02 3.37 31.28 7,702 95,240 0.66 26.30 9.86 6.96
24 Northrim Bank Anchorage AK 2,710,167 1.60 16.10 19.10 3.68 65.26 50,817 38,592 0.76 36.19 (6.33) (0.18)
25 Parke Bank Sewell NJ 2,136,044 2.06 16.07 16.83 3.47 27.64 8,797 43,453 0.56 27.17 (5.29) 17.86
26 First National Bank Damariscotta ME 2,496,194 1.54 15.95 18.14 3.15 46.43 18,141 37,148 0.25 25.70 11.36 11.43
27 Northern Bank & Trust Company Woburn MA 2,869,907 2.25 15.91 17.29 4.92 35.97 7,905 57,998 0.84 26.26 4.29 13.17
28 Alpine Banks of Colorado ALPI.B Glenwood Springs CO 6,218,621 1.03 15.83 14.97 3.09 NA 47,459 59,728 0.15 23.75 4.58 6.01
29 WestStar Bank El Paso TX 2,607,974 1.76 15.81 15.78 3.61 49.21 24,671 55,459 0.04 10.89 (4.02) 6.46
30 Independence Bank of Kentucky Owensboro KY 3,237,305 1.46 15.69 18.52 3.51 52.15 17,538 53,240 0.06 15.86 (2.39) 11.84
31 Alerus Financial, National Association Grand Forks ND 3,390,640 1.78 15.61 17.28 2.97 68.10 147,534 56,643 0.11 13.53 (14.25) 1.12
32 First Bancshares, Inc. Merrillville IN 6,202,272 1.41 15.60 15.44 NA NA 58,771 83,154 0.10 14.64 1.40 0.84
33 The Bank of Greene County Catskill NY 2,340,211 1.24 15.48 15.98 2.88 47.75 10,901 26,917 0.37 24.69 8.86 20.16
34 Unity Bank Clinton NJ 2,022,383 1.80 15.48 18.08 4.30 47.60 9,130 34,489 0.53 31.18 1.44 14.14
35 Farmers & Merchants Bancorp FMCB Lodi CA 5,177,720 1.35 15.46 15.00 3.47 NA 18,502 66,336 0.06 16.66 4.45 8.87
36 West Bank West Des Moines IA 3,499,287 1.56 15.38 18.68 3.09 39.92 9,657 50,880 0.26 11.69 7.72 13.13
37 MVB Financial Corp. MVBF Fairmont WV 2,792,449 1.49 15.30 15.40 3.26 NA 26,729 38,696 0.89 NA 29.57 (8.92)
38 1st Security Bank of Washington Mountlake Terrace WA 2,286,020 1.78 15.26 14.90 4.19 59.40 37,925 38,986 0.25 32.46 8.35 (0.67)
39 Waterstone Financial, Inc. WSBF Wauwatosa WI 2,215,858 3.20 15.23 16.38 2.69 NA 203,195 70,791 0.36 23.42 (14.54) (12.62)
40 Canandaigua National Corporation CNND Canandaigua NY 4,160,371 1.14 15.17 14.57 3.40 NA 56,646 44,749 0.61 18.10 6.54 15.35
41 Independent Bank Corporation IBCP Grand Rapids MI 4,704,740 1.41 15.14 16.13 3.10 NA 75,232 62,895 0.88 18.10 5.64 0.44
42 First Federal Bank Lake City FL 3,423,533 1.47 15.11 12.83 2.91 67.93 96,555 47,936 0.32 22.95 (36.14) (25.35)
43 Fremont Bancorporation Fremont CA 5,529,539 0.99 15.06 15.04 NA NA 114,157 64,616 0.59 11.91 1.01 NA
44 HBT Financial, Inc. HBT Bloomington IL 4,314,254 1.42 15.00 14.81 3.23 NA 37,593 56,271 0.22 20.45 11.25 5.34
45 Stockman Financial Corporation Miles City MT 5,836,140 1.46 14.98 15.20 NA NA 59,680 96,173 0.26 26.79 1.43 NA
46 Bank of Ann Arbor Ann Arbor MI 3,348,573 1.48 14.95 16.80 2.95 49.58 17,179 40,351 0.18 57.90 17.48 3.37
47 First Bancorp, Inc. Lebanon VA 2,846,353 1.63 14.95 16.95 3.78 NA 21,783 42,135 0.12 29.93 7.14 16.14
48 First National Bank Texas Killeen TX 3,832,697 1.29 14.94 14.57 2.74 83.89 347,810 55,254 0.12 23.49 5.90 12.20
49 Citizens First Bank The Villages FL 3,978,260 1.52 14.87 13.27 2.18 45.38 43,087 53,366 0.02 32.13 25.91 7.62
50 Stock Yards Bancorp, Inc. SYBT Louisville KY 6,646,025 1.33 14.71 13.02 3.22 NA 65,850 74,645 0.21 48.85 17.75 26.14
51 Southern Missouri Bancorp, Inc. SMBC Poplar Bluff MO 2,919,063 1.82 14.54 17.60 3.80 NA 19,091 49,877 0.38 21.60 11.18 12.35
52 D.L. Evans Bank Burley ID 2,935,865 1.30 14.43 15.09 3.47 57.24 20,264 34,596 0.22 29.36 (7.34) 16.04
53 First Farmers Bank & Trust Co. Converse IN 2,429,620 1.56 14.43 14.41 3.73 48.14 23,800 35,959 1.58 26.47 10.20 8.96
54 Lakeland Financial Corporation LKFN Warsaw IN 6,557,323 1.56 14.39 14.19 3.08 NA 43,990 95,733 0.31 22.28 (8.08) 6.05
55 First Citizens Community Bank Mansfield PA 2,140,937 1.49 14.36 14.63 3.55 51.54 11,948 29,738 0.85 25.43 1.76 6.18
56 Choice Financial Group Fargo ND 3,167,797 1.59 14.24 14.11 3.81 49.74 32,031 48,472 0.23 18.40 2.52 10.61
57 Northwest Bank Spencer IA 2,278,779 1.16 14.22 13.71 3.11 61.83 29,776 24,809 0.38 21.96 (1.54) 0.69
58 BancPlus Corporation Ridgeland MS 5,196,278 1.13 14.15 14.99 3.60 NA 74,919 56,452 0.29 15.56 6.33 12.58
59 1867 Western Financial Corporation WFCL Stockton CA 4,813,867 2.32 14.08 14.87 2.89 NA 22,483 102,605 0.24 12.74 (0.70) 1.03
60 Washington Trust Bancorp, Inc. WASH Westerly RI 5,851,127 1.32 13.99 14.07 2.59 58.58 86,394 76,870 0.52 19.76 1.44 1.14
61 The Fidelity Bank Fuquay-Varina NC 3,564,427 1.29 13.95 15.62 3.02 55.28 31,796 42,001 0.55 30.18 11.30 17.79
62 Southern First Bancshares, Inc. Greenville SC 2,925,548 1.75 13.95 18.64 3.45 NA 17,104 46,711 0.28 25.66 14.55 (0.07)
63 Bank First, National Association Manitowoc WI 2,937,545 1.67 13.93 14.43 3.52 41.20 23,541 47,048 0.27 15.41 1.90 5.90
64 Inwood Bancshares, Inc. Dallas TX 4,282,457 1.32 13.93 14.29 NA NA 8,780 64,803 0.43 24.14 2.81 NA
65 Banterra Bank Eldorado IL 2,573,220 1.42 13.92 15.11 3.61 53.08 14,598 38,630 0.22 20.98 6.88 13.91
66 Texas First Bank Texas City TX 2,139,158 1.41 13.89 15.11 3.62 53.32 10,357 32,291 0.42 28.51 (3.52) 14.07
67 Traditional Bank, Inc. Mount Sterling KY 2,250,887 1.48 13.88 15.84 3.09 41.72 7,677 38,730 1.18 15.81 (16.31) 13.13
68 Republic Bank of Chicago Oak Brook IL 2,526,113 1.69 13.69 16.54 3.64 46.11 23,144 41,806 1.11 15.10 (2.28) 8.73
69 Country Club Bank Kansas City MO 2,467,057 1.18 13.68 14.40 2.81 70.85 62,330 33,720 0.18 17.19 (1.65) 9.70
70 First Dakota National Bank Yankton SD 2,449,188 1.50 13.66 16.41 3.69 59.27 31,924 35,516 0.37 21.61 13.28 9.21
71 Coastal Community Bank Everett WA 2,632,697 1.23 13.46 16.07 3.77 58.64 26,520 26,882 0.01 71.55 12.12 60.42
72 Sunwest Bank Sandy UT 2,170,180 1.60 13.43 15.43 3.93 52.38 14,276 33,558 0.31 36.12 (9.59) 27.59
73 Arrow Financial Corporation AROW Glens Falls NY 4,027,952 1.28 13.34 14.09 3.00 NA 30,858 49,857 0.27 12.81 2.92 6.87
74 Summit Financial Group, Inc. SMMF Moorefield WV 3,576,719 1.36 13.33 14.76 3.54 NA 19,581 45,738 1.16 NA 14.59 16.03
75 Macatawa Bank Holland MI 2,928,502 1.06 13.21 12.10 2.12 55.91 23,735 29,920 0.34 13.37 (22.78) (7.06)
76 City Holding Company CHCO Charleston WV 6,003,695 1.49 13.19 12.67 2.89 51.42 68,100 88,080 0.48 13.69 (2.00) 2.00
77 State Bank of Southern Utah Cedar City UT 2,023,755 1.55 13.19 14.67 3.53 47.15 12,763 29,628 0.52 26.19 15.50 12.45
78 South Plains Financial, Inc. SPFI Lubbock TX 3,901,855 1.56 13.14 15.08 3.51 NA 97,469 58,614 0.27 13.31 8.06 (1.05)
79 The National Bank of Indianapolis Indianapolis IN 3,164,337 0.92 13.09 13.29 2.34 62.52 26,887 27,631 0.09 17.00 (6.22) 8.52
80 River City Bank RCBC Sacramento CA 3,656,715 1.27 13.03 15.32 2.60 28.08 9,642 44,475 0.00 10.78 11.98 16.32
81 Stearns Financial Services, Inc. Saint Cloud MN 2,436,825 3.12 13.03 16.67 NA NA 15,324 75,598 3.67 39.65 (10.47) NA
82 Farmers National Banc Corp. FMNB Canfield OH 4,142,749 1.52 13.01 13.66 3.45 NA 36,950 51,844 0.47 NA 11.92 9.83
83 American National Corporation Omaha NE 4,727,332 1.29 12.93 12.91 NA NA 22,888 69,305 0.38 6.36 3.27 (0.55)
84 ANB Bank Denver CO 3,561,478 0.91 12.86 11.98 3.02 64.69 16,641 38,492 0.16 11.48 (7.53) 6.65
85 Firstrust Savings Bank Conshohocken PA 5,178,645 1.33 12.85 15.03 3.02 56.40 44,862 80,606 0.54 32.28 (3.13) 5.19
86 BancFirst Corporation BANF Oklahoma City OK 9,405,612 1.54 12.82 14.88 3.15 58.24 161,685 167,630 0.65 0.88 (3.88) 7.44
87 Bridgewater Bancshares, Inc. BWB Saint Louis Park MN 3,477,659 1.43 12.82 14.45 3.54 NA 4,559 45,687 0.06 30.14 21.36 23.58
88 American First National Bank Houston TX 2,287,371 1.67 12.82 14.94 4.07 45.46 2,580 36,167 0.05 29.93 10.94 20.86
89 Farmers Bank & Trust Company Magnolia AR 2,106,370 1.48 12.77 14.25 3.95 51.06 13,915 28,568 0.52 35.43 5.42 13.81
90 Park National Corporation PRK Newark OH 9,560,254 1.56 12.75 14.45 3.69 61.48 124,937 153,945 1.09 7.23 (4.29) 1.71
91 The Fidelity Deposit and Discount Bank Dunmore PA 2,420,900 1.26 12.74 14.67 3.33 56.69 16,040 26,506 0.26 47.03 27.63 36.46
92 Carrollton Bank Carrollton IL 3,095,714 0.91 12.64 14.71 2.73 64.47 21,953 33,140 0.03 23.33 0.70 8.57
93 Lakeside Bank Chicago IL 2,340,589 1.48 12.63 15.61 3.32 51.22 8,203 42,716 0.55 26.29 1.62 13.06
94 Exchange Bank (Santa Rosa, CA) EXSR Santa Rosa CA 3,536,751 1.07 12.60 11.73 2.87 54.68 23,645 36,410 0.26 16.00 (13.03) (0.61)
95 The Bank of Missouri Perryville MO 2,818,411 1.44 12.56 12.41 3.43 63.02 45,816 37,886 0.65 19.18 0.38 2.77
96 Armstrong Bank Muskogee OK 2,490,527 1.33 12.55 13.57 3.65 57.48 24,971 31,560 0.36 21.72 3.50 20.99
97 Metropolitan Bank Holding Corp. MCB New York NY 7,116,358 1.06 12.54 14.65 2.77 NA 23,150 60,555 0.16 68.87 19.20 29.99
98 QCR Holdings, Inc. QCRH Moline IL 6,096,132 1.68 12.51 15.52 3.49 NA 100,510 98,905 0.05 8.57 10.43 0.17
99 Beal Financial Corporation Plano TX 7,396,422 7.91 12.48 26.03 7.51 37.36 580,734 595,029 16.72 1.32 (6.77) 111.67
100 First Fidelity Bank Oklahoma City OK 2,687,759 1.45 12.44 17.28 3.38 54.12 18,219 35,959 0.17 27.52 (0.72) 21.74
101 Citizens and Farmers Bank West Point VA 2,238,851 1.46 12.42 13.72 4.39 68.38 46,886 31,153 0.28 15.94 (4.39) (2.54)
102 Camden National Corporation CAC Camden ME 5,500,356 1.31 12.32 12.72 2.84 NA 49,735 69,014 0.13 17.87 5.60 0.22
103 Amarillo National Bancorp, Inc. Amarillo TX 7,896,259 1.38 12.30 13.48 3.17 50.93 74,913 132,328 0.36 15.27 8.11 6.74
104 Emprise Bank Wichita KS 2,361,582 0.96 12.28 11.21 2.82 67.36 19,941 26,818 0.09 14.18 1.62 0.19
105 The ANB Corporation Terrell TX 5,349,112 1.00 12.23 13.16 NA NA 34,280 47,402 0.15 27.27 (4.34) 13.86
106 CNB Financial Corporation CCNE Clearfield PA 5,328,939 1.14 12.19 13.39 3.31 NA 32,683 57,707 0.55 16.67 7.53 19.60
107 Hometown Community Bancorp, Inc. Morton IL 4,937,353 1.26 12.17 13.48 NA NA 42,678 75,971 1.03 11.11 (6.08) 7.43
108 Red River Bank Alexandria LA 3,224,522 1.15 12.07 12.32 2.63 55.81 26,749 33,485 0.15 28.05 4.33 6.46
109 Financial Institutions, Inc. FISI Warsaw NY 5,520,779 1.46 12.04 16.01 3.14 NA 45,185 77,697 0.20 14.89 2.79 10.61
110 Queensborough National Bank & Trust Company Louisville GA 2,069,851 1.13 12.02 13.87 3.23 66.60 22,603 20,438 0.74 32.64 (3.94) 13.59
111 Tompkins Financial Corporation TMP Ithaca NY 7,819,982 1.12 12.01 12.34 2.96 62.16 78,600 89,391 0.40 8.09 (3.38) 1.22
112 First Western Financial, Inc. MYFW Denver CO 2,527,489 1.00 11.99 12.16 2.98 NA 39,661 20,610 0.17 15.53 16.88 (1.14)
113 Ida Grove Bancshares, Inc. Ida Grove IA 2,104,132 1.42 11.99 13.40 NA NA 10,204 32,953 0.32 18.47 8.48 17.65
114 Mercantile Bank Corporation MBWM Grand Rapids MI 5,257,749 1.23 11.99 13.11 2.76 NA 55,162 59,021 0.36 27.83 8.05 7.05
115 Pacific City Bank Los Angeles CA 2,149,703 1.99 11.94 17.06 3.84 44.40 18,435 40,633 0.07 32.36 12.05 22.64
116 Cashmere Valley Bank CSHX Cashmere WA 2,224,302 1.38 11.83 12.39 2.70 52.44 19,899 29,033 0.74 16.62 (1.12) 11.39
117 First Community Bank Batesville AR 2,049,696 1.23 11.78 14.06 3.66 62.44 23,099 23,430 0.28 29.01 15.09 19.46
118 Central Bank Provo UT 2,032,710 1.33 11.77 10.40 3.49 53.09 12,246 23,538 0.15 37.61 15.60 1.33
119 Texas Bank and Trust Company Longview TX 3,857,221 1.22 11.76 11.41 3.02 56.59 30,294 43,422 0.28 24.42 6.16 10.44
120 German American Bancorp, Inc. GABC Jasper IN 5,608,539 1.57 11.65 13.09 3.31 NA 55,139 84,137 0.26 21.63 (2.63) 5.44
121 Bank Independent Sheffield AL 2,229,522 0.92 11.64 10.97 4.04 75.88 22,931 19,638 0.52 19.67 2.89 2.94
122 Orange Bank & Trust Company Middletown NY 2,133,393 1.08 11.63 13.94 3.24 56.59 6,512 21,401 0.89 31.85 12.25 24.02
123 Enterprise Bancorp, Inc. EBTC Lowell MA 4,447,819 0.98 11.58 12.49 3.44 NA 18,643 42,171 0.79 16.91 (5.17) 8.86
124 Amboy Bancorporation Old Bridge NJ 2,904,181 1.66 11.58 13.77 NA NA 25,099 56,118 2.33 14.89 (7.49) NA
125 VeraBank, Inc. Henderson TX 3,695,069 1.11 11.57 12.94 2.92 63.09 38,319 37,084 0.26 29.12 23.00 NA
126 BayCoast Bank Swansea MA 2,259,576 1.12 11.53 13.01 3.52 79.73 59,353 24,675 0.74 24.28 4.27 9.04
127 Bristol County Savings Bank Taunton MA 2,993,290 2.02 11.52 16.07 3.06 65.88 10,870 58,426 0.31 12.08 (2.25) (20.39)
128 Wayne Bank Honesdale PA 2,069,453 1.26 11.52 12.70 3.50 51.66 8,121 25,371 0.40 22.66 (4.23) 26.48
129 FCB Banks Collinsville IL 2,026,686 1.04 11.51 12.44 2.51 55.70 17,672 20,988 0.49 17.22 (8.80) 12.70
130 Guaranty Bancshares, Inc. GNTY Addison TX 3,086,070 1.36 11.49 13.72 3.51 NA 24,321 39,806 0.40 22.72 2.34 6.04
131 Wilson Bank Holding Company WBHC Lebanon TN 3,989,596 1.35 11.47 12.45 3.41 NA 37,083 49,426 0.02 26.02 6.68 13.92
132 Evans Bank, National Association Angola NY 2,195,407 1.18 11.44 13.34 3.59 62.24 8,715 25,294 0.98 18.73 (7.17) 20.83
133 Great Southern Bancorp, Inc. GSBC Springfield MO 5,449,944 1.36 11.43 11.89 3.37 58.39 38,317 74,627 0.09 14.79 (6.91) 1.95
134 Nicolet Bankshares, Inc. NCBS Green Bay WI 7,695,037 1.15 11.40 9.74 3.37 NA 67,647 60,652 0.80 72.34 64.79 17.89
135 Bank of the Sierra Porterville CA 3,371,577 1.37 11.36 11.74 3.65 57.39 28,052 45,482 0.28 15.26 (19.19) 5.21
136 Cass Information Systems, Inc. CASS Saint Louis MO 2,554,901 1.25 11.34 11.20 NA NA 110,040 28,604 0.00 18.04 7.82 (2.20)
137 Pinnacle Bank Elberton GA 2,008,896 1.14 11.33 11.66 3.83 62.75 15,758 19,173 0.19 42.45 12.13 18.07
138 Hills Bancorporation HBIA Hills IA 4,044,562 1.21 11.31 11.29 2.72 NA 33,464 48,085 0.41 17.70 (3.21) 6.18
139 BTC Financial Corporation Des Moines IA 6,011,979 0.84 11.28 9.62 2.44 62.48 42,756 49,958 0.70 13.21 (2.01) (3.03)
140 Banesco USA Miami FL 2,133,232 0.99 11.23 11.94 3.39 69.68 13,698 20,491 0.44 21.08 12.97 8.38
141 River Bank & Trust Prattville AL 2,395,648 1.23 11.18 12.95 3.43 50.60 15,348 26,589 0.14 36.05 5.65 21.75
142 Horizon Bancorp, Inc. HBNC Michigan City IN 7,411,889 1.34 11.17 12.23 3.02 69.28 53,841 87,091 0.30 31.54 (5.78) 4.31
143 Bravera Holdings Corp. Dickinson ND 2,800,304 1.09 11.17 11.31 NA NA 30,958 27,289 0.95 29.47 12.36 NA
144 Cambridge Bancorp CATC Cambridge MA 4,891,544 1.24 11.14 12.93 3.12 NA 44,324 54,024 0.11 NA 5.17 7.90
145 Austin Bank, Texas National Association Jacksonville TX 2,597,738 1.45 11.14 11.32 3.74 58.61 26,066 35,646 0.41 24.88 3.95 5.38
146 National Bank Holdings Corporation NBHC Greenwood Village CO 7,214,011 1.33 11.06 11.06 2.95 63.05 105,699 93,606 0.35 14.98 1.34 (11.94)
147 Republic Bancorp, Inc. RBCA.A Louisville KY 6,093,632 1.38 11.04 10.27 3.75 59.56 86,104 86,789 0.52 4.83 (6.19) 10.48
148 Jefferson Bank San Antonio TX 2,750,432 0.78 11.04 10.02 2.79 73.09 25,064 24,618 0.30 28.27 0.11 3.09
149 Capital City Bank Group, Inc. CCBG Tallahassee FL 4,263,849 0.99 11.03 11.09 2.83 NA 107,545 39,616 0.28 16.24 (6.40) (0.98)
150 Community Trust Bancorp, Inc. CTBI Pikeville KY 5,418,257 1.63 11.03 12.88 3.21 NA 60,621 87,939 1.55 9.72 (4.53) 9.77
151 1st Source Corporation SRCE South Bend IN 8,096,289 1.53 10.97 12.45 3.23 55.28 100,772 118,557 0.51 21.28 (2.42) 2.42
152 Triumph Bancorp, Inc. TBK Dallas TX 5,956,250 1.87 10.94 14.10 6.72 65.21 50,465 112,974 0.31 20.31 (1.89) 30.52
153 Merchants Bank, National Association Winona MN 2,820,664 1.20 10.93 12.05 3.27 62.11 29,551 32,166 0.65 20.26 (10.07) (1.30)
154 Salem Five Bancorp Salem MA 5,878,462 1.12 10.92 9.76 2.48 58.33 63,697 64,587 0.38 11.25 (0.79) (5.04)
155 ACNB Bank Gettysburg PA 2,772,684 1.03 10.91 10.73 2.88 58.84 16,096 27,752 0.33 17.20 (10.87) 0.81
156 John Marshall Bank Reston VA 2,147,194 1.35 10.90 12.58 3.36 44.90 1,515 27,514 0.02 23.61 6.53 15.75
157 Central Pacific Financial Corp. CPF Honolulu HI 7,419,089 1.13 10.86 14.38 3.18 63.90 42,546 79,894 0.15 21.14 2.85 4.50
158 Home Bank, National Association Lafayette LA 2,932,077 1.77 10.82 14.88 3.93 55.89 16,239 48,766 0.66 20.04 (6.97) 10.17
159 Orrstown Financial Services, Inc. ORRF Shippensburg PA 2,834,565 1.14 10.81 12.54 3.25 NA 28,187 32,881 0.26 10.45 (0.18) 5.66
160 United Community Bank Chatham IL 3,479,391 1.01 10.78 10.82 2.45 59.95 34,455 34,138 0.76 17.69 (1.10) 1.86
161 Community Bancshares of Mississippi, Inc. Brandon MS 4,456,398 0.88 10.74 12.46 NA NA 38,179 37,965 0.33 23.57 (3.23) 11.40
162 Southside Bancshares, Inc. SBSI Tyler TX 7,259,602 1.59 10.74 12.77 3.16 49.25 45,648 113,401 0.16 24.54 (0.02) 2.63
163 Johnson Financial Group, Inc. Racine WI 6,098,917 1.21 10.73 9.67 2.85 70.69 136,458 72,817 0.29 2.50 (6.71) (11.62)
164 Cornerstone Bank York NE 2,056,362 1.04 10.70 10.79 3.47 63.51 17,307 24,554 0.28 23.72 (1.08) 8.43
165 Texas Partners Bank San Antonio TX 2,062,206 1.16 10.68 13.32 3.29 58.34 16,606 20,861 0.00 36.71 9.79 54.62
166 First Community Bankshares, Inc. FCBC Bluefield VA 3,194,519 1.63 10.68 11.96 3.67 NA 34,301 51,168 0.95 11.71 (1.05) (0.90)
167 Bankwell Bank New Canaan CT 2,452,445 1.37 10.64 15.50 3.24 46.72 5,031 31,035 1.65 37.07 17.08 27.21
168 Civista Bancshares, Inc. CIVB Sandusky OH 3,012,905 1.34 10.61 11.61 3.44 NA 29,430 40,546 0.17 14.07 (3.25) 5.92
169 Chemung Financial Corporation CHMG Elmira NY 2,418,475 1.09 10.58 12.94 2.84 NA 22,740 26,425 0.57 11.82 (1.19) 5.11
170 FirstCapital Bank of Texas, N.A. Midland TX 2,041,502 1.38 10.57 10.61 4.61 58.07 6,475 26,941 0.76 21.69 5.38 11.14
171 CapStar Bank Nashville TN 3,129,211 1.62 10.57 13.49 3.21 52.03 42,640 50,561 0.17 9.92 (0.96) 12.61
172 Premier Financial Corp. PFC Defiance OH 7,481,402 1.68 10.56 12.49 3.39 50.39 75,448 126,051 0.75 11.31 (4.23) 5.45
173 First State Bank of Uvalde Uvalde TX 2,035,137 0.97 10.52 9.58 1.78 39.46 7,408 19,170 0.07 25.29 2.57 7.77
174 Community Bank of the Chesapeake Waldorf MD 2,325,841 1.34 10.50 12.69 3.38 48.65 5,243 28,872 0.35 23.37 (0.46) 9.61
175 ConnectOne Bancorp, Inc. CNOB Englewood Cliffs NJ 8,129,480 1.69 10.48 12.94 3.66 38.15 15,195 130,353 1.30 15.30 9.55 10.50
176 The First of Long Island Corporation FLIC Glen Head NY 4,068,789 1.04 10.47 10.34 2.74 NA 11,470 43,089 0.04 6.90 2.49 4.16
177 Parkway Bank and Trust Company Harwood Heights IL 2,880,119 1.33 10.45 12.06 3.20 41.29 2,837 38,380 2.15 20.83 (2.03) 15.25
178 TrustCo Bank Corp NY TRST Glenville NY 6,196,546 1.01 10.45 10.61 2.71 58.27 17,937 61,519 0.48 14.20 4.76 5.16
179 STAR Financial Bank Fort Wayne IN 3,092,880 0.89 10.39 10.03 2.89 67.52 27,773 25,463 0.36 24.21 (11.88) 4.04
180 Peoples Security Bank and Trust Company Scranton PA 3,366,863 1.47 10.38 12.81 3.06 50.01 29,084 45,098 0.15 26.17 6.96 18.39
181 Old Second Bancorp, Inc. OSBC Aurora IL 6,212,189 0.58 10.36 6.04 3.00 NA 38,998 20,044 0.71 NA 67.98 5.07
182 First National Bank Paragould AR 2,374,597 1.18 10.34 10.47 3.41 58.15 16,995 23,876 0.36 40.08 22.17 23.76
183 Origin Bancorp, Inc. OBNK Ruston LA 7,861,285 1.45 10.29 15.79 3.10 55.95 49,628 108,546 0.40 18.49 (9.99) 3.72
184 Machias Savings Bank Machias ME 2,365,991 1.53 10.28 13.37 3.93 64.00 11,878 30,833 1.10 36.94 9.38 11.45
185 First Guaranty Bank Hammond LA 2,874,343 1.09 10.25 12.13 3.46 60.71 9,217 29,435 0.70 39.69 17.35 19.07
186 First National Bank Alaska FBAK Anchorage AK 5,581,340 1.12 10.21 10.23 2.88 53.06 25,540 58,414 0.43 37.29 (4.21) 0.41
187 FineMark National Bank & Trust Fort Myers FL 3,374,556 0.94 10.19 10.16 2.32 62.94 29,437 28,240 0.03 26.96 7.87 16.64
188 RBB Bancorp RBB Los Angeles CA 4,228,194 1.48 10.18 12.71 3.46 NA 19,105 56,906 0.50 64.59 6.49 20.97
189 Central Valley Community Bank Fresno CA 2,449,987 1.29 10.01 11.61 3.56 55.71 8,398 29,175 0.35 25.90 (5.50) 10.29
190 ChoiceOne Bank Sparta MI 2,363,747 1.03 9.97 9.72 3.22 63.04 18,751 22,274 0.24 26.70 (4.42) 9.87
191 First Citizens National Bank Dyersburg TN 2,243,730 1.26 9.96 11.07 3.34 59.90 19,035 26,326 0.12 20.97 11.60 9.71
192 Lakeland Bancorp, Inc. LBAI Oak Ridge NJ 8,198,056 1.19 9.94 11.95 3.13 54.18 22,911 95,041 0.25 15.40 (0.53) 10.08
193 TriCo Bancshares TCBK Chico CA 8,614,787 1.43 9.93 12.10 3.58 51.47 63,750 117,655 0.48 14.74 3.36 7.34
194 HomeStreet, Inc. HMST Seattle WA 7,204,091 1.58 9.92 15.90 3.40 60.92 119,913 115,422 0.86 11.92 2.35 (2.84)
195 First Commonwealth Financial Corporation FCF Indiana PA 9,545,093 1.47 9.90 12.55 3.26 54.53 106,413 138,257 0.59 10.50 1.08 6.22
196 Hanmi Financial Corporation HAFC Los Angeles CA 6,858,587 1.51 9.88 16.27 3.08 52.72 40,625 98,677 0.07 20.24 6.13 13.92
197 FVCbank Fairfax VA 2,198,015 1.28 9.87 11.05 3.24 50.48 4,539 25,196 0.16 34.77 2.68 13.74
198 Univest Financial Corporation UVSP Souderton PA 7,122,421 1.38 9.86 12.50 3.06 60.87 81,990 91,801 0.47 19.06 (0.02) 7.37
199 First American Bank Corporation Elk Grove Village IL 6,128,246 0.81 9.85 11.53 2.24 82.35 46,962 56,754 0.60 5.48 (11.88) 11.49
200 BCB Community Bank Bayonne NJ 2,966,215 1.24 9.80 12.23 3.61 49.50 7,782 36,046 0.94 18.25 0.32 17.07

Source: Capital Performance Group analysis of data provided by S&P Global Market Intelligence, 2022. Financial data were based on SEC filings and regulatory financials. If SEC data were unavailable, regulatory financials were used. If the institution operated as a subchapter S corporation for at least one quarter between 2020 and 2021, profitability ratios (ROAE, ROAA, and ROACE) were calculated from regulatory financials and adjusted using an assumed tax rate. Data are for the twelve months ended December 31, 2021, unless otherwise indicated.

Institutions are ranked based on three-year average ROAE from 2019 to 2021. In the event of a tie of the three-year average ROAE, the 2021 year-end ROAE was used as a tie-breaker. In the event of subsequent ties, the 2020 year-end ROAE was used as a final tie-breaker.

  • Top consolidated bank holding companies, banks, and thrifts with total assets of between $2 billion and $10 billion as of December 31, 2021. Excludes industrial banks, nondepository trusts, foreign-owned banks, and bankers' banks. Institutions with credit cards to total loans of more than 25%, loans to total assets of less than 20%, loans to total deposits of less than 20% at December 31, 2021, were excluded. Institutions with a leverage ratio of less than 5%, Tier 1 risk-based capital ratio of less than 6%, or total risk-based capital ratio of less than 10% during any quarter between 2019 and 2021 were excluded. Institutions that did not report data for any year between 2019 and 2021, or institutions that received a tax benefit of greater than 10% of net income for any year between 2019 and 2021 were also excluded. Also excludes institutions that have fewer than 5 depository branches and are owned by a company not primarily focused on commercial or retail banking.
  • The top 20 qualified institutions (as described above) based on three-year average return on equity between 2019 and 2021.