Will pandemic reshuffle the top 200 publicly traded community banks?

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What drove top performance for banks last year will be very different from what drives top performance in 2020.

Lower interest rates and the economic fallout from the coronavirus pandemic have forced banks to rework their business plans, and they will need to reprioritize the metrics they focus on in the process.

Credit quality will be key going forward, along with expenses, said Claude Hanley, a partner with Capital Performance Group who compiles the data for our annual ranking of publicly traded banks and thrifts with less than $2 billion of assets.

Neither has been much of a concern for high-performing banks in a long time.

“In past years we saw a lot of the top institutions typically grew revenue at levels greater than their peer group,” Hanley said. “But in all likelihood they’re not going to have the wherewithal to grow revenue like they have in the past.”

(Click on "view table" at the end of this article to see the ranking — which is based on return on average equity across three years — and use the links below to go to the rankings from past years.)


Overall profitability in 2019 for the banks in this size category — though “solid,” Hanley said — declined slightly from a year earlier due to the Federal Reserve's interest rate cuts. The three cuts, in July, September and October, reversed nearly all of the upward movement of the previous year.

Contracting margins could have made a bigger dent in profitability, if the banks had not managed to contain expense growth, Hanley said.

The median return on average equity for the 511 institutions that fit the ranking criteria slipped by 25 basis points from a year earlier, to 9.28%. By comparison, the median for those in the top 200 fell by 84 basis points, to 11.46%.

See rankings from past years:

One metric where the banks diverged was loan yields.

The top 200 enjoyed a median yield on average earning assets that was 14 basis points higher than the peer group — 4.71% vs. 4.56% — a key advantage that helped them outperform.

"But with rates in freefall essentially, those yields are going to be much lower this year,” Hanley said, pointing out that the Fed, in its emergenecy actions this spring, further slashed rates to a record low.

Hanley recommended that banks focus more heavily on other measures to improve performance amid the uncertainty of the pandemic and the resulting business upheaval. In addition to asset quality and expense control, he believes demand deposits will be a differentiator that helps separate the best from the rest.

"Having that non-interest-bearing source of deposit funding will become more crucial,” he said.

Though the core deposit ratio is a more commonly used measure, Hanley said that metric has become muddied lately, thanks to the proliferation of high-yield savings accounts. He looks at demand deposits, a subset of core deposits, for better insight into the level of true core funding.

“What’s happened is, more banks are offering high-yield savings so, de facto, very interest-rate sensitive deposits, which in years gone by was mainly confined to CDs," he said.

For both the top 200 and the larger peer group, core deposits as a share of total deposits fell last year, when compared with 2018. The core deposit ratio was a median of 77.64% for the high performers (down 171 basis points) and 73.30% for the peer group (down 34 basis points).

Though the top 200 still have an edge in overall core deposits, they are not doing as well on demand deposits.

They posted a median ratio of demand deposits to total deposits that is 79 basis points lower than that of the peer group. The ratio was 14.34% for the high performers, down 30 basis points from a year earlier, compared with 15.13% for the peer group, an improvement of 9 basis points.

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 511 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 22 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 25.

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Can leading performers stay on top of their game after pandemic?
RankInstitution/TickerLocationTotal Assets($000)3-Year Avg. ROAE (%)ROAE (%)ROAA (%)Net Income ($000)Pre-Tax Net Income Growth (%)Noninterest Expense Growth (%)Efficiency Ratio FTE (%)Net Interest Margin FTE (%)Demand Deposits/ Total Dep. (%)One-Year Gap/ Assets (%)
1Oregon Bancorp (ORBN)Salem, OR269,48229.435.454.4811,50735.4219.9571.764.0917.7715.91
2MetroCity Bankshares (MCBS)Doraville, GA1,631,85826.4724.232.8744,71883.7939.664.1523.08-9.98
3Bank7 Corp. (BSVN)Oklahoma City, OK866,39225.958.421.038,201-71.4711.1737.795.35NANA
4Thomasville Bancshares (THVB)Thomasville, GA955,43619.8221.131.9718,818NA7.5546.053.683.4752.21
5Plumas Bancorp (PLBC)Quincy, CA865,19119.6320.211.8215,51210.544.4449.854.759.2417.08
6Morris State Bancshares (MBLU)Dublin, GA1,008,0561813.631.5413,6213.1331.4657.714.655.387.17
7Mission Bancorp (MSBC)Bakersfield, CA850,01017.2218.091.7813,6607.5216.0148.824.7811.534.35
8Greene County Bancorp (GCBC)Catskill, NY1,443,95116.2516.481.4218,4968.288.4550.193.432.2725.03
9United Bancorp. of Ala. (UBAB)Atmore, AL730,77815.9214.321.429,761-3.7310.4165.674.0744.6517.11
10First Farmers Financial (FFMR)Converse, IN1,915,76315.9215.991.6129,5938.085.4152.974.087.7818.27
11Communities First Financial (CFST)Fresno, CA538,39215.8819.721.889,20133.2818.5549.254.7420.8838.81
12FFD Financial Corp. (FFDF)Dover, OH452,90015.7716.41.556,38912.186.9950.263.9419.2618.38
13Santa Cruz County Bank (SCZC)Santa Cruz, CA1,070,97115.0814.691.5512,2638.969.1944.684.813.5738.42
14FS Bancorp (FSBW)Mountlake Terrace, WA1,713,05614.9611.921.3822,717-1.5627.6764.224.532.246.49
15Unity Bancorp (UNTY)Clinton, NJ1,718,94214.7915.861.5423,6539.925.5652.593.9522.44.67
16Parke Bancorp (PKBK)Sewell, NJ1,681,16014.6717.971.9430,28716.617.1428.763.7519.49-11.66
17Truxton Corp. (TRUX)Nashville, TN538,76414.6415.771.939,74216.732.5755.633.20.5231.04
18CSB Bancorp (CBMI)Chelsea, MI297,11014.5913.481.644,919-6.950.2859.33.866.8729.87
19CNB Community Bancorp (CNBB)Hillsdale, MI737,42614.5715.251.319,16810.089.0165.754.342.5130.55
20Timberland Bancorp (TSBK)Hoquiam, WA1,270,54214.4715.122.0225,05722.9411.4450.094.495.7724.04
21Minster Financial Corp. (MTFC)Minster, OH517,90914.3515.911.386,926NA6.657.943.4128.3821.95
22Fentura Financial (FETM)Fenton, MI1,034,75914.1512.021.211,57814.379.6862.063.8312.390.83
23First IC Corp. (FIEB)Doraville, GA704,80514.114.361.7110,81412.0915.0354.043.9917.11-31.12
24FS Bancorp (FXLG)Lagrange, IN837,96814.0717.091.6913,22133.35-8.9254.614.075.7623.92
25Bank of South Carolina (BKSC)Charleston, SC445,01314.0214.861.667,31815.4-4.1352.474.288.9246.06
26Marlin Business Services (MRLN)Mount Laurel, NJ1,207,44313.9913.332.1827,11611.2718.7151.466.940.65-14.44
27Union Bankshares (UNB)Morrisville, VT872,91213.9915.631.310,64833.128.8866.234.027.459.52
28SouthPoint Bancshares (SOUB)Birmingham, AL410,11513.8814.371.335,161NA13.7166.333.8911.4112.72
29First National Corp. (FXNC)Strasburg, VA800,04813.7113.191.239,556-5.322.2965.283.8824.069.93
30LifeStore Financial Group (LSFG)West Jefferson, NC317,27413.0913.571.384,1937.384.7371.593.6118.568.34
31Community Bancorp. (CMTV)Derby, VT737,95513.0513.911.248,8244.5-0.0763.083.913.8221.9
32First Savings Financial (FSFG)Jeffersonville, IN1,292,57313.0415.311.4717,49431.08108.0776.343.8523.664.61
33Peoples Limited (PPLL)Wyalusing, PA401,55212.9912.891.184,6430.09-2.1660.523.2724.92.27
34High Country Bancorp (HCBC)Salida, CO292,38812.9615.531.564,3281620.4265.315.3953.0310.2
35First Bancorp (FBLV)Lebanon, VA1,948,52912.9213.61.4928,0095.928.7456.443.85.2229.47
36Summit Bank (SBKO)Eugene, OR507,38812.912.871.245,619-3.2133.558.655.172.4416.44
37Main Street Financial Services (MSWV)Wheeling, WV472,00112.8912.031.165,272NA757.653.9618.639.05
38KS Bancorp (KSBI)Smithfield, NC403,65712.8414.760.913,6422.981.2271.073.3222.49-0.51
39Crystal Valley Financial (CYVF)Middlebury, IN595,19412.7812.811.589,2327.146.4463.194.164.716.25
40West Town Bancorp (WTWB)Raleigh, NC314,89112.6914.962.7711,079-13.09-15.5968.974.8323.190.84
41Cornerstone Community (CRSB)Red Bluff, CA288,35512.6414.431.213,45224.729.4858.074.2128.86-4.91
42Commercial National (CEFC)Ithaca, MI504,93912.5913.580.975,0199.513.1164.473.037.410.66
43Mountain Commerce (MCBI)Knoxville, TN906,68812.5914.71.412,35518.536.8848.533.5418.7-0.51
44Lyons Bancorp (LYBC)Lyons, NY1,133,69712.5813.350.9811,005NA10.1566.733.5726.85-2.65
45Valley Republic Bancorp (VLLX)Bakersfield, CA939,08512.5513.321.139,7371.7522.8756.773.4312.9231.24
46Home Loan Financial (HLFN)Coshocton, OH223,55412.5412.831.723,727-0.797.3450.994.4612.275.46
47Cass Information Systems (CASS)Saint Louis, MO1,764,24312.512.691.7630,4042.997.01NANA46.374.43
48American Bank Inc. (AMBK)Allentown, PA641,55212.4613.591.237,88114.91-0.1849.363.078.1913.67
49PCB Bancorp (PCB)Los Angeles, CA1,746,32812.3810.881.424,108-1.155.252.824.116.212.73
50F&M Bancorp (FMOO)Miamisburg, OH183,28112.3213.611.362,293NA9.961.074.4235.464.59
51Capital Bancorp (CBNK)Rockville, MD1,428,49512.313.661.3816,89521.8622.571.965.631.8140.4
52Huron Valley Bancorp (HVLM)Milford, MI155,68012.2611.671.191,854NA11.7364.34.1634.9213.65
53Baker Boyer Bancorp (BBBK)Walla Walla, WA607,43112.1812.561.217,1770.35.7275.413.8619.7444.75
54State Bank Corp.* ()Lake Havasu City, AZ677,65412.1511.151.167,821-8.866.6362.383.8122.318.15
55Farmers Bancorp (FABP)Frankfort, IN617,75312.1312.421.418,152NA11.461.774.118.0615.87
56Trinity Bank (TYBT)Fort Worth, TX309,06212.1111.551.484,043-15.766.7746.223.7624.6234.45
57Community Financial Group (CFGW)Spokane, WA460,02212.0811.91.235,397NA15.3171.84.8946.7832.6
58Heartland BancCorp (HLAN)Whitehall, OH1,114,59512.0510.81.213,19613.4618.8463.273.9227.272.96
59Citizens Financial Services (CZFS)Mansfield, PA1,466,33912.01131.3419,4908.044.1854.343.726.38.58
60PSB Holdings (PSBQ)Wausau, WI974,8931212.771.2211,2479.044.5858.523.622.916.41
61CSB Bancorp (CSBB)Millersburg, OH818,6831212.771.3610,4149.626.76583.977.3815.17
62Benchmark Bankshares (BMBN)Kenbridge, VA711,89511.9413.541.369,453NA10.7463.734.542.8917.41
63Susquehanna Community (SQCF)West Milton, PA456,70511.8611.241.125,1980.465.7567.582.954.397.3
64Cornerstone Bancorp (CNBP)Palatine, IL633,14511.8412.780.855,100-28.2520.9973.033.4429.4329.17
65OP Bancorp (OPBK)Los Angeles, CA1,179,52011.7712.421.5116,75711.8610.0159.374.1928.9918.72
66United Security Bancshares (UBFO)Fresno, CA956,91911.7213.31.5815,1729.031.6649.424.237.5653.03
67Kentucky Bancshares (KTYB)Paris, KY1,110,79011.611.521.213,1531.032.6969.683.6421.593.43
68Pinnacle Bank (PBNK)Gilroy, CA419,41211.5711.161.425,5648.3516.6963.35.4547.2635.6
69Killbuck Bancshares (KLIB)Killbuck, OH567,04711.5412.21.397,5873.3310.9857.213.837.6931.2
70First Bancshares (FIBH)Bellevue, OH227,17411.5211.831.012,349-0.071.6169.854.1418.0712.97
71Pacific Financial Corp. (PFLC)Aberdeen, WA929,41511.5113.71.4913,75819.275.2267.774.536.1924.87
72Northeast Bank (NBN)Lewiston, ME1,207,41611.498.951.1813,868-27.924.9757.45.62.2935.21
73Town and Country Financial (TWCF)Springfield, IL814,66711.4912.020.957,66419.82-1.7269.283.449.85-5.22
74Cashmere Valley Bank (CSHX)Cashmere, WA1,651,49911.4911.541.4923,39510.278.9955.713.155.029.46
75Chesapeake Financial (CPKF)Kilmarnock, VA958,30611.4811.741.2411,3998.318.7974.693.966.818.36
76Oak Valley Bancorp (OVLY)Oakdale, CA1,147,78511.4811.781.1512,4898.046.4561.794.1365.1828.3
77Evans Bancorp (EVBN)Hamburg, NY1,460,23011.4712.081.1717,01416.29.9967.33.784.7613.12
78Woodlands Financial (WDFN)Williamsport, PA415,91811.4112.041.255,298-3.238.4668.563.725.1415.03
79Fidelity D & D Bancorp (FDBC)Dunmore, PA1,009,92711.411.491.1811,5765.525.6261.813.525.726.34
80Redwood Financial (REDW)Redwood Falls, MN353,74011.3913.191.484,922NA2.9659.844.3651.6311.33
81ACNB Corp. (ACNB)Gettysburg, PA1,720,25311.3613.331.423,7219.014.8159.783.814.93.99
82River Valley Community (RVCB)Yuba City, CA442,31011.311.781.024,15914.7419.2757.823.2538.2332.93
83CBB Bancorp (CBBI)Los Angeles, CA1,162,68811.299.451.1513,344-22.876.462.73.9421.560.4
84BEO Bancorp (BEOB)Heppner, OR492,26011.2711.840.914,2787.526.0175.165.4315.425.83
85Chino Commercial Bancorp (CCBC)Chino, CA229,50711.2711.031.172,55411.7515.6964.54.4616.7816.71
86Malaga Financial Corp. (MLGF)Palos Verdes Estates, CA1,248,21011.2410.931.3215,387NA-1.533.52.9415.932.82
87Golden Valley Bank (GVYB)Chico, CA356,97711.2214.781.193,99239.0520.3162.363.3632.374.86
88Steuben Trust Corp. (SBHO)Hornell, NY559,44111.211.191.257,0852.28.0863.463.7116.2-10.41
89Riverview Bancorp (RVSB)Vancouver, WA1,184,10011.212.271.4717,0615.650.9761.874.326.828.39
90Oak Ridge Financial (BKOR)Oak Ridge, NC475,70611.1911.290.914,2506.410.872.493.6916.131.07
91FFW Corp. (FFWC)Wabash, IN417,09511.1710.381.124,594-0.985.5467.623.5119.896.87
92Centric Financial Corp. (CFCX)Harrisburg, PA832,20411.129.890.957,285-9.1615.9364.923.84.0921.53
93Wayne Savings (WAYN)Wooster, OH492,58611.0613.681.336,45121.05-3.1956.273.5114.425.63
94Embassy Bancorp (EMYB)Bethlehem, PA1,176,1191111.540.9510,8797.554.1260.433.0917.73-5.93
95Peoples Bancorp (PPBB)Bellingham, WA1,979,5991110.981.2823,3890.234.7166.53.977.5532.74
96First Citrus Bancorp. (FCIT)Tampa, FL419,18910.9811.010.983,9591.647.6367.013.8323.8917.91
97Northeast Indiana Bancorp (NIDB)Huntington, IN353,92410.9611.741.334,68511.591.8461.213.5212.266.2
98S.B.C.P. Bancorp (SBBI)Cross Plains, WI1,319,35510.948.340.9311,410NA3166.223.5217.4914.4
99First Northern Community (FNRN)Dixon, CA1,292,59110.9211.881.1814,72115.185.5262.233.968.319.15
100US Metro Bank (USMT)Garden Grove, CA542,28810.839.491.125,23922.6617.2361.183.923.6127.98
1011st Summit Bancorp (FSMK)Johnstown, PA1,120,69410.7310.1110,8840.940.6663.582.713.64-5.42
102First Capital (FCAP)Corydon, IN827,49610.6711.141.2710,33813.517.6660.674.026.3521.45
103Citizens Bancorp (CZBC)Corvallis, OR790,17910.6512.021.3410,49010.986.1455.894.216.0415.62
104TGR Financial (TGRF)Naples, FL1,579,91110.6412.281.1517,11514.466.5658.243.497.0618.54
105Cortland Bancorp (CLDB)Cortland, OH737,16210.6410.321.047,282-18.629.2567.013.7821.5812.8
106Sturgis Bancorp (STBI)Sturgis, MI473,37110.6411.821.094,92714.85.5771.233.963.4718.57
107FNB Bancorp (FBIP)Newtown, PA953,11810.613.161.2111,34424.29-2.0761.483.0813.998.66
108Victory Bancorp (VTYB)Limerick, PA279,65610.611.380.812,12711.269.7371.914.232.6628.32
109Red River Bancshares (RRBI)Alexandria, LA1,988,22510.5910.861.324,8246.927.859.333.524.5911.79
110Virginia National (VABK)Charlottesville, VA702,62710.599.021.026,689-28.278.863.933.578.744.97
111Southwest Georgia Financial (SGB)Moultrie, GA555,43610.5811.290.975,30017.48.7572.644.0929.899.08
112Mifflinburg Bancorp (MIFF)Mifflinburg, PA461,50010.5710.841.145,119NA8.0459.793.263.216.21
113FCN Banc Corp. (FBVI)Brookville, IN473,75710.5610.641.255,719-2.119.0461.993.7321.4118.5
114Northern California National (NCNB)Chico, CA274,84910.5411.971.112,90022.6525.8513.1623.4630.65
115First Farmers and Merchants (FFMH)Columbia, TN1,403,67010.511.531.1816,07213.462.0869.343.3916.3111.61
116U & I Financial Corp. (UNIF)Lynnwood, WA347,45510.4411.991.785,62420.7716.5555.54.215.6515.72
117Avidbank Holdings (AVBH)San Jose, CA1,131,55710.4411.841.2412,85713.5121.2159.364.550.6239.85
118Community Bancorp (CYSM)Santa Maria, CA263,46510.49.861.072,731NANA66.034.6342.4815.53
119Oconomowoc Bancshares (OCNB)Oconomowoc, WI1,219,94610.3911.061.0312,381NA7.8475.873.676.052.21
120CommerceWest Bank (CWBK)Irvine, CA883,44910.3813.111.398,20824.7-0.3453.213.8620.2949.39
121Southeastern Banking Corp. (SEBC)Darien, GA455,28210.3812.231.576,649NA5.7960.594.2823.4229.33
122Ballston Spa Bancorp (BSPA)Ballston Spa, NY588,19210.377.890.713,931NA5.9874.993.617.95-7.27
123Central Federal Corp. (CFBK)Worthington, OH880,54510.3517.571.39,60155.7339.96643.0519.2429.43
124Coastal Financial Corp. (CCB)Everett, WA1,128,52610.3211.291.2813,20126.5318.49624.2341.6129.22
125SB Financial Group (SBFG)Defiance, OH1,038,57710.328.991.1611,9731.287.9770.833.827.99.24
126Croghan Bancshares (CHBH)Fremont, OH876,79210.310.421.4712,5225.664.9561.194.2114.075.91
127Century Next Financial (CTUY)Ruston, LA489,60610.311.721.155,5534166.2365.024.140.4522.15
1281st Colonial Bancorp (FCOB)Cherry Hill, NJ575,20310.296.990.583,224-69.366.0565.553.432.6813.41
129Eagle Financial Services (EFSI)Berryville, VA877,32010.2610.61.189,75910.846.2867.01410.195.7
130JD BANCSHARES (JDVB)Jennings, LA885,04910.2410.541.028,948-6.412.8675.064.45.2125.98
131Pioneer Bankcorp (PBKC)Clewiston, FL395,40810.2110.230.963,71212.735.5869.184.0231.7815.73
132Colony Bankcorp (CBAN)Fitzgerald, GA1,515,31310.188.720.7210,211-18.3129.972.893.614.518.64
133Tri City Bankshares (TRCY)Oak Creek, WI1,467,39410.1811.321.318,7234.186.2770.083.784.2721.26
134CNB Corp. (CNBW)Conway, SC1,260,94110.1711.151.1213,6856.091.4960.193.0912.072.99
135Ledyard Financial Group (LFGP)Hanover, NH499,72510.1611.031.165,81611.061.676.713.46.41-2.41
136Somerset Trust Holding Co. (SOME)Somerset, PA1,335,09010.1610.220.8711,167NA12.6377.174.455.213.98
137Shore Bancshares (SHBI)Easton, MD1,559,23510.138.521.0816,1983.431.9760.63.5418.5115.74
138Metro Phoenix Bank (MPHX)Phoenix, AZ243,32610.16.60.992,159-55.4444.0874.114.9326.4837.04
139First National of Groton (FIGR)Groton, NY182,74810.19.71.412,561-8.456.3157.134.4321.0416.27
140First Home Bancorp (FHBI)Saint Petersburg, FL531,24010.0710.271.215,467NA16.9776.864.2517.2454.34
141First Citizens Bancshares (FIZN)Dyersburg, TN1,824,23310.079.431.119,144NA0.1465.213.510.55-4.23
142Farmers Bankshares (FBVA)Windsor, VA476,54310.079.281.145,096NA10.0571.283.8311.819.81
143Mission Valley Bancorp (MVLY)Sun Valley, CA357,87310.0510.391.033,60419.248.5770.54.8369.1728.37
144Peoples Bancorp of N.C. (PEBK)Newton, NC1,154,88210.0110.451.2314,0676.966.9870.94.4234.8518.82
145Level One Bancorp (LEVL)Farmington Hills, MI1,584,89910.019.91.0816,11110.8910.4667.683.631.638.17
146CNB Bank Shares (CNBN)Carlinville, IL1,334,77810.0110.981.0814,09734.464.4961.673.634.58-4.2
147Harleysville Financial (HARL)Harleysville, PA784,4979.9710.491.017,8921.622.5557.983.173.02-2.41
148Hawthorn Bancshares (HWBK)Jefferson City, MO1,492,9629.9314.771.0916,11437.89-3.9766.393.514.3810.02
149Solvay Bank Corp. (SOBS)Solvay, NY934,6059.9310.020.948,8163.481.3162.812.746.85-3.8
150Citizens Financial Corp. (CIWV)Elkins, WV284,9669.9311.11.123,106-1.556.3661.564.216.453.58
151Three Shores Bancorp. (TSHR)Orlando, FL1,874,3609.929.420.7914,749-20.560.2159.022.773.8436.73
152Auburn National (AUBN)Auburn, AL827,8799.8910.351.189,74199.8663.723.435.7610.81
153SVB&T Corp. (SVBT)Jasper, IN452,8509.899.380.934,055-4.4615.2873.543.43.64-0.68
154Southern Michigan Bancorp (SOMC)Coldwater, MI809,7169.8810.81.098,6227.276.0169.463.665.9724.09
155United Bancorp (UBCP)Martins Ferry, OH685,7069.8812.521.076,81031.419.0363.323.6718.27-3.66
156Norwood Financial Corp. (NWFL)Honesdale, PA1,230,6109.8610.831.1714,2153.685.1458.883.534.2-14.3
157Farmers and Merchants (FMFG)Hampstead, MD442,2159.859.521.064,561-3.916.7264.313.6722.254.96
158Esquire Financial Holdings (ESQ)Jericho, NY798,0089.8113.951.9314,14337.6918.0554.34.8626.344.04
159Blackhawk Bancorp (BHWB)Beloit, WI963,8619.810.491.029,60317.1218.6766.643.842.8618.08
160Surrey Bancorp (SRYB)Mount Airy, NC329,5209.7910.541.554,9138.375.7157.884.5731.9629.21
161First Commerce Bank (CMRB)Lakewood, NJ1,007,4999.796.870.969,480-19.2611.461.253.3812.27-19.48
162MNB Corp. (MNBC)Bangor, PA400,7909.789.830.893,607-0.5710.4671.313.5618.881.04
163Bankwell Financial Group (BWFG)New Canaan, CT1,882,1829.7710.20.9718,2167.80.2759.913.0312.79-14.31
164NorthWest Indiana Bancorp (NWIN)Munster, IN1,328,7229.779.540.9412,09722.2920.3264.853.662.15-1.97
165Kish Bancorp (KISB)Belleville, PA916,8409.7711.280.797,00715.618.4277.823.2414.34-0.28
166QNB Corp. (QNBC)Quakertown, PA1,225,0239.7410.581.0212,35715.228.5765.563.1614.092.54
167Consumers Bancorp (CBKM)Minerva, OH574,5729.79.80.914,987-14.345.7670.163.65.61.84
168Blue Ridge Bankshares (BRBS)Luray, VA961,2639.77.50.74,8167.8556.3379.773.2229.542.77
169Benton Financial Corp. ()Fowler, IN167,4529.699.721.442,39811.537.970.994.115.5526.75
170Commencement Bank (CBWA)Tacoma, WA388,3849.6910.631.314,788-8.02859.814.225.7914.23
171Premier Financial (PFBI)Huntington, WV1,781,0109.6810.431.424,19616.519.8354.074.1824.591.21
172CMUV Bancorp (CMUV)El Centro, CA201,8459.6710.871.262,40614.616.3157.924.7331.525.89
173C&F Financial Corp. (CFFI)Toano, VA1,657,4329.6712.021.218,8505.817.5669.955.523.214.46
174Aquesta Financial (AQFH)Cornelius, NC523,2259.648.840.94,3530.99-3.2870.513.6132.9112.6
175River Financial Corp. (RVRF)Prattville, AL1,364,1039.6210.261.2414,186NA21.1156.254.081410.16
176Farmers & Merchants (FMAO)Archbold, OH1,607,3309.628.261.2318,40219.728.0760.413.7922.6112.58
177Security Bancorp (SCYT)McMinnville, TN224,3429.6110.881.182,55613.433.3562.653.6641.0918.3
178Codorus Valley Bancorp (CVLY)York, PA1,886,5459.69.981.0118,647-4.443.8565.233.664.7720.72
179York Traditions Bank (YRKB)York, PA542,3949.579.691.025,2179.0513.9371.373.5414.8625.99
180Jonestown Bank and Trust (JNES)Jonestown, PA628,0439.579.630.875,36310.745.5370.133.574.1312.8
181Pinnacle Bancshares (PCLB)Jasper, AL230,4359.569.771.262,88911.871.5160.453.8728.42-2.63
182Summit Bancshares (SMAL)Oakland, CA258,7459.5611.61.493,81017.59-3.2659.455.3149.5945.93
183Katahdin Bankshares (KTHN)Patten, ME850,9099.5411.430.998,15910.222.5867.863.5217.468.03
184MainStreet Bancshares (MNSB)Fairfax, VA1,277,9899.5410.791.1913,95034.6827.0157.293.528.6717.05
185Grand Bank Corp. (GABK)Marblehead, MA339,9339.548.571.013,405NA-5.3660.73.1830.18-5.74
186Eastern Michigan Financial (EFIN)Croswell, MI373,8549.5211.41.124,16324.731.361.813.345.7937.59
187Andover Bancorp (ANDC)Andover, OH427,1579.59.070.913,777NA-1.3871.313.0824.01-4.55
188Denver Bankshares (DNVB)Denver, CO242,0589.4910.781.082,51721.646.2665.894.6231.9712.85
1891st Capital Bank (FISB)Salinas, CA645,3479.4711.091.157,0878.232.9562.824.0149.0617.69
190Jefferson Security Bank (JFWV)Shepherdstown, WV324,4029.4410.850.892,79712.141.4769.673.3316.6315.53
191Bank of Botetourt (BORT)Buchanan, VA491,6609.4310.311.074,97915.654.7464.573.7210.424.62
192People's Bank of Commerce (PBCO)Medford, OR370,1749.4310.741.134,06821.445.8771.974.558.088.03
193Dimeco (DIMC)Honesdale, PA732,8839.4310.471.248,73410.44.5167.174.166.51.91
194Logansport Financial (LOGN)Logansport, IN188,2519.429.551.22,249-0.410.8364.893.6417.5616.29
195Penns Woods Bancorp (PWOD)Williamsport, PA1,665,3239.410.550.9415,6866.882.6863.523.29NANA
196United Bancshares (UBOH)Columbus Grove, OH880,0149.412.31.2410,66120.5813.4272.993.755.813.53
197Muncy Bank Financial (MYBF)Muncy, PA489,4279.3510.961.095,24211.696.0566.783.563.411.45
198Middlefield Banc Corp. (MBCN)Middlefield, OH1,182,4759.279.351.0512,7114.644.4963.643.6819.066.27
199Guaranty Federal (GFED)Springfield, MO1,012,0259.211.260.969,41517.225.9269.33.465.6128.03
200Ames National Corp. (ATLO)Ames, IA1,737,1839.29.481.1417,194-1.815.4255.913.21NANA
Median: All 511 institutions537,9248.69.280.984,9799.835.9869.073.6915.139.98
Median: Top 200 institutions794,09410.7811.461.199,05896.8863.193.8214.3412.73
Average: All 511 institutions696,5307.978.750.956,97712.18.2769.893.7417.1410.47
Average: Top 200 institutions847,14011.612.021.2610,2137.819.6162.663.9116.9213.84

Source: Capital Performance Group analysis of data from S&P Global Market Intelligence. Ranking is of bank holding companies, banks, and thrifts that had total assets of less than $2 billion as of Dec. 31, 2019, and that are publicly traded or report financials to the SEC. Ranking is based on three-year average ROAE for 2017 to 2019. Additional data shown is for the 12 months ended Dec. 31, 2019. Growth stats compare 2019 to 2018. “One-year gap/assets,” a measure of rate sensitivity, is calculated like so: (rate sensitive assets maturing or repricing within one year) — (rate sensitive liabilities maturing or repricing within one year) / total assets. 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 2017, 2018 or 2019. Using the preceding criteria, 69 publicly traded institutions in this size range were excluded. In addition, 17 of the institutions in last year’s ranking are no longer here because they grew their assets over $2 billion. A total of 511 institutions qualified for the ranking. All data as of March 17.
* Denotes institutions that were acquired or merged between Jan. 1, 2020, and March 17, 2020.
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