Best Banks to Work For 2023 with $3B to $10B of assets

November 28, 2023 1:11 PM

Two dozen banks with between $3 billion and $10 billion of assets made this year's Best Banks to Work For ranking. Overall, 90 institutions made the list.

Continue on to find out more about this year's winners in this midsize asset category. Note: Asset sizes are from the Federal Deposit Insurance Corp. as of June 30. Employee head counts were provided by the banks.

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Home Bank’s employees from Natchez, Mississippi, team up with the Walk to End Alzheimer’s. The bank’s staff members volunteer with a number of causes in their communities.

Home Bank

Lafayette, Louisiana
Assets: $3.3 billion
President and CEO: John Bordelon
No. of U.S. employees: 480

Home Bank in Lafayette, Louisiana, touts its "Home Bank Helps" grant program, which is employee-funded. Each year, nonprofits and schools apply for funding, and recipients are determined by an internal committee in each market. "This is a special way that Home Bank gives employees the opportunity to contribute to their communities and know that their funds are making a difference close to home," the company said.

Employees have fun volunteering during a mattress sled race to benefit a local charity.

Alerus

Grand Forks, North Dakota
Assets: $3.8 billion
President and CEO: Katie Lorenson
No. of U.S. employees: 779

Six fundamental beliefs drive the culture and decision making at Alerus in Grand Forks, North Dakota. These include: doing the right thing; cherishing people; respecting everyone; serving with passion; empowering with knowledge; and embracing change.

"We regularly recognize employee milestones and achievements that help us achieve our shared goals, whether it is through our annual companywide achievement awards or a group lunch to recognize an anniversary or job well done," said Katie Lorenson, president and CEO. "Our team managers foster a culture of collaboration through regular meet-ups and we have implemented a variety of technologies to make it simple for employees to collaborate across offices and locations."

Civista Bank employees volunteer at a local soup kitchen preparing meals.

Civista Bank

Sandusky, Ohio
Assets: $3.6 billion
CEO: Dennis Shaffer
No. of U.S. employees: 498

Civista Bank supports philanthropic work in a number of ways. It has an annual volunteer week where the Sandusky, Ohio, bank has organized multiple different volunteer activities across its footprint for staff members to participate in during work hours. Employees can also have donations to the United Way dedicated from their paychecks, and Civista will match these contributions. And each week, staff members can wear jeans to work if they make a small donation to a predetermined charity.

Employees work together at St. Joe's Orphanage Picnic.

Stock Yards Bank & Trust

Louisville, Kentucky
Assets: $7.7 billion
CEO: Ja Hillebrand
No. of U.S. employees: 1,055

Stock Yards Bank & Trust "has always and will forever" work to ensure that employees' families come first, said CEO Ja Hillebrand. The Louisville, Kentucky, company does that by allowing for flexible schedules, generous paid time off and providing good benefits, he added.

"Our culture is based on relationships — with our colleagues as well as with our customers, Hillebrand said. "The power of those long-lasting relationships fuels our continued growth."

Mid Penn Bank summer interns pose for a photo with the Mid Penn Bank program leaders.

Mid Penn Bank

Millersburg, Pennsylvania
Assets: $5.1 billion
President and CEO: Rory G. Ritrievi
No. of U.S. employees: 621

Mid Penn Bank's core values include quality, professionalism, integrity and communication, which are used to accomplish its mission of rewarding stakeholders, serving customers and communities and cherishing employees.

"To cherish all of our employees, we seek to create a positive work environment that promotes inclusiveness, respect, positivity and allows each and every employee to be at their very best here and at home," said Rory G. Ritrievi, president and CEO of the Millersburg, Pennsylvania, company. "We all understand that to perform at our very best as a company, we need to emphasize the success of the team over any one individual."

Peoples Bank employees from Marietta, Ohio, and Cambridge, Ohio, help hang flower baskets on lampposts in their downtown areas.

Peoples Bank

Marietta, Ohio
Assets: $8.8 billion
CEO: Chuck Sulerzyski
No. of U.S. employees: 1,313

Peoples Bank in Marietta, Ohio, refers to its culture as the "PEBO DNA." This covers four key areas: employees taking care of themselves, each other, clients and business.

"We coach each other to be better every day and we create an environment where people are comfortable raising their hand when they see an issue," said CEO Chuck Sulerzyski. "Associates hold themselves accountable for doing what they say they will do to build and maintain credibility. We do not tolerate jerks because we recognize we are only as good as the lowest level of performance we are willing to accept."

BankPlus teams compete in a cooking contest to raise money for homeless shelters and education scholarships.

BankPlus

Belzoni, Mississippi
Assets: $7.5 billion
President and CEO: Jack Webb
No. of U.S. employees: 1,201

Jack Webb, president and CEO of BankPlus, said his view on a company's culture is based on seeing dozens of banks during his previous stint as a bank examiner.

"When I started to work here 26 years ago, I chose BankPlus because I liked and admired the people who worked here and led the bank at that time," he said. "After I was hired, I also appreciated the fact that they not only listened to my ideas, they appreciated them. I have never forgotten that, and it is one of the reasons I believe BankPlus has been so successful in fostering a culture of teamwork and innovation consistently over so many years."

Red River employees enjoy some camaraderie while tasting some treats from food trucks.

Red River Bank

Alexandria, Louisiana
Assets: $3 billion
President and CEO: Blake Chatelain
No. of U.S. employees: 354

Red River Bank emphasizes its culture during new hire onboarding and through monthly "centers of excellence" meetings that are held at all bank locations. Trained ambassadors lead these meetings and discuss one of the bank's core values each month. The Alexandria, Louisiana, company was founded on the premise of "always doing the right thing," said Blake Chatelain, president and CEO.

"At the bank's inception, a formal culture program was created to ensure it could maintain its unique culture throughout the bank, no matter the growth," Chatelain said. "The bank's culture is one of being a high-performing smart bank, while at the same time friendly, compassionate, inclusive, and authentic."

First National encourages employees to maintain a good work-life balance. This employee scaled a local mountain, with Anchorage as the backdrop, in his off-hours.

First National Bank Alaska

Anchorage, Alaska
Assets: $5.5 billion
Chair, president and CEO: Betsy Lawer
No. of U.S. employees: 613

First National Bank Alaska in Anchorage hosts an annual dinner dance to celebrate the year's successes and to show its appreciation of its workers.

The B1Foundation works with a local entrepreneur to make his small business dream a reality.

B1Bank

Baton Rouge, Louisiana
Assets: $6.5 billion
President and CEO: David "Jude" Melville
No. of U.S. employees: 753

B1Bank has needed to bring on new staff members to help support its growth — it's almost quintupled its asset size over five years. To ensure that this rapid expansion hasn't affected its culture, management has focused on the Baton Rouge, Louisiana, company's five guiding principles: relationship-driven teamwork; thoughtful, disciplined decision making; meaningful communication; doing the right thing the right way; and striving to be the best through continual improvement.

"Over time, they have become intuitive to us; we talk about them, we hire for them, we acquire for them, we mentor about them, we live them," said President and CEO David "Jude" Melville. "These principles have helped us apply strategies that worked for a smaller team and incorporate new perspectives and people to build a renewed culture that works as our team grows while staying committed to the goals we began with. Culture builds itself when it's authentic."

American National Bank and Trust hosted a year-long campaign, called Revenue Climb, to help promote certain areas of the bank. Each quarter, a market winner was recognized. Here the bank’s Winston-Salem, North Carolina, market wins the award.

American National Bank and Trust Co.

Danville, Virginia
Assets: $3.1 billion
President and CEO: Jeffrey Haley
No. of U.S. employees: 370

Jeffrey Haley, president and CEO of American National Bank and Trust in Danville, Virginia, believes in taking time to truly listen and respond to feedback from staff members. He provides his cell phone number to employees at every level of the organization. The bank also holds focus groups, hosts town halls and conducts surveys to gather feedback.

"We send handwritten notes of thanks when someone does a good job and we publicly share a customer's positive feedback of their interaction with one of our employees," Haley said. "We work to foster a diverse workplace and strive to promote from within. We take time to listen — and respond — to our people so we can continue to evolve, but also be sure to reward and recognize those that are living the values we hold. That is what makes our culture so strong."

Independence Bank employees and their family members have fun supporting a local parade.

Independence Bank

Owensboro, Kentucky
Assets: $3.6 billion
CEO: Chris Reid
No. of U.S. employees: 439

Every year, Independence Bank in Owensboro, Kentucky, holds what it calls its "five things meeting." Attendees discuss five things the bank needs to change, five things they never need to change and five future programs to consider.

"From this, enhancements and improvements are made," said CEO Chris Reid.

Community Bank’s Hernando, Mississippi, office worked with the local Chamber of Commerce for the second year to host the Hernando Fashion Show. This event highlights local boutiques.

Community Bank

Flowood, Mississippi
Assets: $4.6 billion
Chairman: Charles W. Nicholson Jr.
No. of U.S. employees: 884

Charles W. Nicholson Jr., chairman of Community Bank in Flowood, Mississippi, described the company's culture as "dedicated to creating an environment of growth for our staff, while ensuring our customers, no matter the relationship size, are well taken care of, which in turn ensures our communities are thriving."

Forbright's employees participate in the annual Salvation Army Angel Tree Program. The bank sponsored 263 underserved children in its local community, contributing more than $26,000 in gifts and gift cards.

Forbright Bank

Chevy Chase, Maryland
Assets: $6.6 billion
Executive chairman: John Delaney
No. of U.S. employees: 420

Forbright Bank in Chevy Chase, Maryland, really encourages its current staff members to recommend applicants for open positions. Its employee referral program includes a $5,000 bonus for referrals who are hired. And every staff member who submits a referral who is hired is entered into a pool to win an all-expenses paid vacation.

2023-06-15 Bridgewater Happy Hour Event, Jeannine Marie Photography-241.jpg

Members of the Bridgewater Bank’s health and wellness committee welcome their colleagues to the company’s olympic games tournament.

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Bridgewater Bank

St. Louis Park, Minnesota
Assets: $4.6 billion
CEO: Jerry Baack
No. of U.S. employees: 251

Bridgewater Bank in St. Louis Park, Minnesota, leans into the old saying of "a team that plays, stays together."

"Bridgewater is a place where serious growth and serious fun effortlessly coexist," said CEO Jerry Baack. "We believe rooftop happy hours are better with live music, paddleboarding is best when done together and games should be played together in the office … often. Fueled by an abundance of collaboration and learning opportunities, our team grows together every day."

He added that the company views these types of regular events as a way to strengthen relationships and build upon the bank's culture.

Capital City Bank employees help deliver Thanksgiving dinners.

Capital City Bank

Tallahassee, Florida
Assets: $4.4 billion
CEO: William Smith Jr.
No. of U.S. employees: 805

Capital City Bank in Tallahassee, Florida, has created a dedicated diversity, equity and inclusion council and hired a chief diversity officer to ensure that it offers a welcoming work environment. It emphasizes the idea of "belonging" in its DEI work, since it is essentially the outcome of an effective inclusion initiative and denotes providing a place where everyone feels safe and valued.

"We believe a sense of belonging is essential because it speaks to how diversity, equity and inclusion is experienced by each team member and gives focus to the chief purpose of the work: ensuring every associate feels a sense of acceptance and belonging," the company said.

A group of employees from Dacotah Bank attend the South Dakota Bankers Association Women in Banking Conference. The company serves as a sponsor of the event.

Dacotah Bank

Aberdeen, South Dakota
Assets: $3.7 billion
President and CEO: Robert Fouberg
No. of U.S. employees: 621

Caring is an important cornerstone of Dacotah Bank in Aberdeen, South Dakota. Staff members care for their colleagues at all levels of the organization like a family, said Robert Fouberg, president and CEO. One example of this is the company's "Here for Your Health" benefit. Employees can be reimbursed up to $300 for wellness expenses. They can also participate in a wellness challenge by completing various activities for a chance to win a prize.

"We celebrate successes with each other as would a family, and we clean up mistakes together as a family," Fouberg added. "We provide better-than-market wages and benefits so that our colleagues can best care for their families at home."

TIB's human resources team welcomes employees to the bank's annual costume contest.

TIB

Farmers Branch, Texas
Assets: $3 billion
President and CEO: Michael O'Rourke
No. of U.S. employees: 247

Every Thursday at TIB in Farmers Branch, Texas, is considered "Together Day." It's the one day each week when staff members come together and collaborate and build connections in person.

"TIB employees demonstrate an unwavering commitment to build quality relationships and serve as trusted partners with sound financial decision making, integrity and outstanding service," said Michael O'Rourke, president and CEO.

Peapack-Gladstone Bank employees support the annual Pride festival in Asbury Park, New Jersey.

Peapack-Gladstone Bank

Bedminster, New Jersey
Assets: $6.5 billion
President and CEO: Douglas Kennedy
No. of U.S. employees: 509

The culture at Peapack-Gladstone Bank is defined by what it calls its "hospitality standards." That includes the principle of "Our Promise," which is when the bank consistently delivers meaningful experiences and personalized service. The Bedminster, New Jersey-based company also emphasizes the value of "Our Service Model," which ensures customers feel that the bank has their best interests in mind and the principle of "Our Commitments," which means that every employee strives to reach the highest levels of professionalism, invests in the community and puts clients first.

"We are a creative, diverse and strong family, committed to doing the right thing for each other and our clients," said President and CEO Douglas Kennedy.

North Texas employees at Southside showcase their team spirit during a Habitat for Humanity volunteer event.

Southside Bank

Tyler, Texas
Assets: $7.8 billion
President and CEO: Lee Gibson
No. of U.S. employees: 834

Southside Bank in Tyler, Texas, recently created what it calls a "unified mindset" to ensure each staff member is on the same page in terms of customer service and workplace culture. The four principles of the unified mindset include: "astound our customers by the way they are treated; care for and elevate each other; believe in yourself; and always do what is right."

The bank also has the motto, "#InThisTogether."

"This has become our mantra that we use to remind one another that we are not alone, and that we are all a part of something bigger and better than any one of us could do on our own," said President and CEO Lee Gibson.

Chairman and CEO Edward Handy prepares breakfast at Amos House as a part of Washington Trust’s 222 Acts of Kindness challenge.

Washington Trust Co.

Westerly, Rhode Island
Assets: $7 billion
Chairman and CEO: Edward O. Handy III
No. of U.S. employees: 658

Washington Trust Co. in Westerly, Rhode Island, creates a fun work environment by providing employees with lunch on Fridays, virtual coffee breaks and posting fun pictures along the theme of "Life at Washington Trust" on its intranet.

Cape Cod 5 employees volunteer during a build day for Habitat for Humanity of Greater Plymouth.

Cape Cod 5

Hyannis, Massachusetts
Assets: $5.5 billion
Chairman and CEO: Matthew Burke
No. of U.S. employees: 570

Cape Cod 5 in Hyannis, Massachusetts, strives for a culture of open and ongoing bankwide communication. It partly does that by providing employees with its "loop report" portal, where they can submit feedback to the executive leadership team. The bank also hosts monthly virtual town hall meetings to ensure transparency.

"Cape Cod 5 is committed to maintaining our top workplace culture, which supports a caring and inclusive work environment where each employee can grow and develop and feels supported professionally and personally," said Matthew Burke, chairman and CEO.

Employees from MVB's human resources and marketing departments bonded over ax throwing during a two-day planning retreat.

MVB Bank

Fairmont, West Virginia
Assets: $3.3 billion
CEO: Larry Mazza
No. of U.S. employees: 371

MVB Bank in Fairmont, West Virginia, works with the Pacific Institute, a leadership development organization, to provide "thought patterns for high performance" training sessions to its staff members. The training goes beyond the attendees' professional development and focuses on improving one's personal life as well.

"We believe that if a team member has a well-rounded life and is succeeding personally, they'll bring more success to their role within MVB," said CEO Larry Mazza. "We also ensure that our culture is thriving from a top-down perspective. If leaders are emulating our values in the way they work, the way they interact with clients, the way they speak with their team members ... this encourages others to behave in the same way. Many team members have even brought our corporate values into their own households because of the impact they have."

Employees volunteer at the annual Pierogi Fest.

Centier Bank

Merrillville, Indiana
Assets: $7.8 billion
CEO: Michael Schrage
No. of U.S. employees: 1,000

CEO Michael Schrage said that Centier Bank in Merrillville, Indiana, maintains its culture by hiring those with a servant heart, which is the desire to help and serve others. The bank also promotes its corporate values of caring, loyalty, integrity, friendship and fun.

"Centier's culture is all about caring and serving others for their personal and beneficial well-being," he added.