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2024 Top-Performing Banks Community banking


LEADING MIDSIZE BANKS RIDE DEPOSIT STRENGTH TO TOP OF RANKINGS

By   Jim Dobbs July 17, 2024, 9:00 p.m. EDT 4 Min Read

The top-performing midsize banks in the U.S. navigated the high interest rate
environment of 2023 better than their peers, keeping expenses in check while
growing loans at a steady clip.

The top 10 banks — out of 86 with between $10 billion and $50 billion of assets
— generated stronger profits than the group overall last year, according to
Capital Performance Group. CPG compiles the rankings that are published annually
by American Banker. The consulting firm bases the list on each institution's
average three-year return on average equity between 2021 and 2023. Overall, the
firm used year-end 2023 data.

CPG analysts Ally Akins and Claude Hanley told American Banker that the top 10
generated an average three-year ROAE of 17.44% versus 10.39% for this segment of
the industry overall. They said that, while the group overall saw costs
increase, the highest-ranked banks contained noninterest expenses.

Net loan growth of top performers and the segment overall exceeded 5% last year,
but the strongest banks grew core deposits in 2023 by more than 2%, while the
group overall saw a decline. This helped the highest-ranked banks to minimize
deposit cost increases because of high rates, supporting net interest margins
and bottom lines. The NIM on average for the top 10 banks were 15 basis points
higher than overall.

Profits in 2023 were more than 40% higher for the top banks compared to their
overall peer group.

"The top performers remained more liquid in 2023, which helped their
profitability in a rising rate environment," Akins and Hanley said in a summary
of their findings.

The $21.3 billion-asset Customers Bancorp in West Reading, Pennsylvania, claimed
the No. 1 spot for midsize banks in 2023. It continued the momentum into early
2024 with first-quarter net income of $45.9 million.



"While we have made significant strides, especially in 2023, our opportunity in
2024 looks even stronger," Chairman and CEO Jay Sidhu told analysts after
reporting first-quarter results.

"We remain very optimistic about the year with strong and growing loan and
deposit pipelines," he added. "We are in an enviable position to continue to
take market share."

The bank's credit quality remains pristine, as well, an important strength at a
time when investors are concerned that high rates could squeeze some borrowers
and result in mounting loan losses. Customers' nonperforming assets to overall
assets ratio was just 17 basis points for the first quarter.

"Some of the key metrics we focus on, and which we believe differentiate the
top-performing banks, include growth in revenue, [earnings per share] and
tangible book value per share. We have recorded more than 15% annualized growth
on each of these metrics over the last five years, and revenues have grown two
times" the rate of expenses, Sidhu said.



"We have accomplished this performance without raising a single dollar of common
equity and diluting our existing shareholders," he added.

The bank also continues to invest in growth. It recently hired 10 business
banking teams from legacy Signature Bank, which failed last year. "We expect
this will accelerate the execution of our strategic priorities, especially
helping to take the quality of our deposit franchise to the next level," Sidhu
said. "These teams have an incredible track record with decades of experience
working together, serving an awesome client base" and "serve to further
accelerate and enhance" the bank's momentum.

Merchants Bancorp in Carmel, Indiana, ranked No. 2. The $17.8 billion-asset bank
also extended its fortunes into the first quarter of this year, generating net
income of $87.1 million. It marked the company's highest quarterly earnings in
its history. It also marked a 58% jump when compared to the first quarter of
2023 and a 12% increase from the prior quarter.

At a time when most banks are struggling to generate growth, Merchants' loans
jumped 25% from a year earlier and 6% from the previous quarter.

"The momentum of our profitability continued … all while decreasing our
efficiency ratio to 29.1%, increasing our return on average assets to 2.07%, and
increasing our tangible book value by 28%, to $29.26 per share," Merchants
Chairman and CEO Michael Petrie said in the company's earnings report.

Michael Jamesson, a principal at the bank consulting firm Jamesson Associates,
said in a recent interview that the outlook for the industry overall appears
brighter for 2024. The economy continues to grow and recession fears ignited by
high rates have faded, given the resilience of a consistently strong labor
market.

What's more, rates that were pushed higher by the Federal Reserve over the past
two years to tame inflation have leveled off this year and are poised to decline
as soon as this fall. Inflation dropped from 9% in 2022 to 3% in June. Fed
officials signaled that at least one rate cut is in the cards for the second
half of this year, perhaps as soon as September. Declining rates could curb
deposit costs and spur more loan demand for banks.

"I think the worst fears around rates appear to be behind us," Jamesson said,
"and the outlook is much better."

View Table
All Banks $10B-$50B 2023


    Total Assets ROAA 3-Year Avg ROAE ROAE Net Interest Margin (FTE) Efficiency
Ratio (FTE) Total Noninterest Income Net Income Net Income Net Income Change
Total Risk-Based Cap Ratio Yield on Avg Earning Assets  Cost of Funds Net
Loans/Assets Net Loans/Deposits Core Deps/Total Deps NPAs/TotalAssets Core Dep
Change  Net Loan Change Net Income Change Revenue Change 2023 2022   ($000) (%)
(%) (%) (%) (%) ($000) ($000) ($000) ($000) (%) (%) (%) (%) (%) (%) (%) (%) (%)
(%) (%) Rank Rank Institution Name City State 12/31/23 2023 2021-2023 2023 2023
2023 2023 2023 2022 2022-2023 12/31/23 2023 2023 12/31/23 12/31/23 12/31/23
12/31/23 2022-2023 2022-2023 2022-2023 2022-2023                                
                          Median: All Institutions     18,564,038 0.94 10.12
8.77 3.18 58.07 119,565 180,272 218,999 (26,750) 14.42   5.07 1.89 68.06 84.21
83.06 0.28 (6.27) 5.39 (13.41) 1.30     Median: Top 10 Institutions    
17,931,033 1.45 17.45 16.54 3.11 50.79 129,266 264,689 239,769 2,781 15.70  
5.54 2.14 64.17 74.37 81.74 0.18 3.81 5.52 1.00 2.92     Average: All
Institutions     22,081,600 0.90 10.39 8.28 3.20 58.52 188,840 191,997 249,943
(57,946) 14.98   5.08 2.00 67.89 86.03 81.02 0.31 (1.69) 5.42 (10.54) 0.53    
Average: Top 10 Institutions     20,789,028 1.36 17.44 15.83 3.35 52.07 171,388
274,246 299,328 (25,083) 15.47   5.56 2.36 67.94 83.48 81.76 0.30 2.37 5.38
(5.52) (0.61)         1 5 Customers Bancorp, Inc. West Reading PA 21,316,265
1.16 19.50 16.72 3.29 45.08 76,238 250,143 228,034 22,109 15.29 6.52 3.45 61.30
72.92 81.67 0.13 5.01 (16.58) 9.70 10.92 2 1 Merchants Bancorp Carmel IN
16,952,516 1.85 18.97 17.63 3.06 30.95 114,668 279,234 219,721 59,513 11.64 7.36
4.73 78.29 94.39 63.25 0.44 25.59 28.39 27.09 26.60 3 6 FirstBank Holding
Company Lakewood CO 28,183,594 1.01 18.67 21.32 2.41 61.82 129,001 293,455
285,685 7,770 16.52 3.79 1.49 57.45 66.56 81.81 0.03 (17.20) 0.27 2.72 (12.65) 4
3 ServisFirst Bancshares, Inc. Birmingham AL 16,129,668 1.37 18.38 15.14 2.81
38.03 29,555 206,853 251,504 (44,651) 12.45 5.56 2.95 71.36 86.72 91.30 0.13
13.42 (0.28) (17.75) (13.25) 5 18 First BanCorp. San Juan PR 18,909,549 1.62
17.69 21.86 4.33 49.29 124,468 302,864 305,072 (2,208) 18.57 5.52 1.32 63.10
72.06 77.16 0.67 (6.28) 5.54 (0.72) 0.39 6 8 Commerce Bancshares, Inc. Kansas
City MO 31,701,061 1.52 17.21 18.24 3.16 57.87 570,421 485,177 500,020 (14,843)
16.03 4.37 1.33 53.78 67.21 88.66 0.02 (10.74) 5.50 (2.97) 5.45 7 2 Midland
Financial Co. Oklahoma City OK 36,678,291 1.01 16.95 10.01 2.80 57.35 135,869
458,217 644,613 (186,396) 18.93 5.07 2.42 81.84 129.81 81.06 0.15 6.51 2.96
(28.92) (13.39) 8 4 State Bankshares, Inc. Fargo ND 14,302,842 0.53 16.07 5.08
1.92 78.70 216,892 72,176 199,296 (127,120) 13.01 4.93 3.09 85.93 98.63 78.31
0.21 2.61 7.65 (63.78) (32.92) 9 13 BancFirst Corporation Oklahoma City OK
12,372,042 1.75 15.63 15.89 3.79 51.13 187,236 212,465 193,100 19,365 16.90 5.57
1.87 61.13 70.68 91.01 0.42 (5.12) 10.30 10.03 9.38 10 NA OFG Bancorp San Juan
PR 11,344,453 1.79 15.29 16.37 5.96 50.46 129,530 181,872 166,239 15,633 15.37  
6.87 0.99 65.24 75.82 83.39 0.83 9.91 10.09 9.40 13.38 11 7 Bank of Hawaii
Corporation Honolulu HI 23,733,296 0.71 15.22 12.63 2.24 61.35 189,464 171,202
225,804 (54,602) 13.60 3.64 1.42 58.24 65.65 80.58 0.05 (4.99) 2.36 (24.18)
(3.59) 12 10 First Financial Bankshares, Inc. Abilene TX 13,105,594 1.55 15.01
14.99 3.29 46.06 115,076 198,977 234,475 (35,498) 19.62 4.50 1.26 53.98 63.51
91.57 0.26 (2.69) 10.92 (15.14) (5.78) 13 25 International Bancshares
Corporation Laredo TX 15,066,189 2.64 14.77 18.66 4.78 33.45 169,885 412,377
302,798 109,579 23.65 5.77 1.08 52.45 66.83 79.49 0.49 (11.26) 8.18 36.19 23.38
14 9 Stifel Financial Corp. Saint Louis MO 37,727,460 1.38 13.60 9.85 3.56 82.51
3,207,244 522,536 662,155 (139,619) 18.20 6.06 3.02 54.11 74.68 100.00 0.12 0.83
(4.06) (21.09) (0.79) 15 17 Cathay General Bancorp Los Angeles CA 23,081,534
1.56 13.46 13.56 3.45 46.10 53,044 354,124 360,642 (6,518) 14.31 5.78 2.53 83.98
100.30 51.51 0.37 (13.00) 7.08 (1.81) 0.59 16 52 Hancock Whitney Corporation
Gulfport MS 35,578,573 1.10 13.19 11.13 3.34 55.34 337,734 392,602 524,089
(131,487) 13.93 4.92 1.66 66.44 79.62 83.48 0.18 (9.90) 3.54 (25.09) 3.89 17 16
UMB Financial Corporation Kansas City MO 44,011,674 0.88 13.16 12.23 2.52 62.86
544,992 350,024 431,682 (81,658) 12.85 4.96 2.53 52.16 64.14 91.41 0.03 3.14
10.15 (18.92) 3.94 18 31 Bank OZK Little Rock AR 34,237,457 2.25 13.05 14.22
5.16 32.93 119,583 690,839 564,090 126,749 14.10 7.61 2.72 76.29 95.31 48.06
0.37 (9.57) 26.98 22.47 24.58 19 11 Pinnacle Bancorp, Inc. Omaha NE 19,109,659
0.68 12.73 9.20 2.40 66.56 69,741 131,198 196,774 (65,576) 14.11 4.05 1.77 66.59
77.27 81.65 0.08 (4.68) 7.59 (33.33) (13.80) 20 NA First Commonwealth Financial
Corporation Indiana PA 11,459,488 1.42 12.45 12.80 3.81 52.91 96,712 157,063
128,181 28,882 13.93 5.23 1.49 77.50 96.61 85.99 0.36 4.00 17.61 22.53 17.39 21
30 Banner Corporation Walla Walla WA 15,670,391 1.18 12.28 11.94 4.01 58.26
63,651 183,624 195,378 (11,754) 14.58 4.87 0.91 68.10 81.91 88.66 0.17 (10.43)
6.06 (6.02) 2.53 22 27 Enterprise Financial Services Corp Clayton MO 14,518,590
1.41 11.97 11.96 4.43 53.40 67,937 194,059 203,043 (8,984) 14.16 6.00 1.68 74.04
88.28 89.55 0.34 5.87 11.96 (4.42) 18.26 23 38 WSFS Financial Corporation
Wilmington DE 20,594,672 1.33 11.91 11.72 4.10 53.43 280,244 269,025 222,648
46,377 15.23 5.53 1.47 61.24 76.56 89.20 0.37 (2.30) 6.86 20.83 9.66 24 14
Bremer Financial Corporation Saint Paul MN 16,375,730 0.76 11.83 8.80 2.90 66.35
111,155 124,008 198,460 (74,452) 13.87 4.56 1.88 69.38 87.87 90.19 0.38 (6.58)
7.99 (37.51) (7.40) 25 23 Sandy Spring Bancorp, Inc. Olney MD 14,028,172 0.87
11.58 8.04 2.67 61.55 66,378 122,844 166,299 (43,455) 14.92 4.78 2.29 80.25
102.37 75.31 0.65 (6.26) (0.13) (26.13) (15.45) 26 22 NBT Bancorp Inc. Norwich
NY 13,309,040 0.95 11.57 9.34 3.29 60.44 151,493 118,782 151,995 (33,213) 14.75
4.54 1.32 71.68 86.97 87.92 0.26 6.42 18.51 (21.85) 2.08 27 34 BOK Financial
Corporation Tulsa OK 49,824,830 1.10 11.05 10.82 2.96 61.42 789,578 531,133
520,293 10,840 13.16 5.44 2.55 47.54 69.62 91.16 0.28 (6.07) 5.75 2.08 11.11 28
37 First Merchants Corporation Muncie IN 18,405,887 1.23 10.93 10.52 3.35 54.48
109,505 223,786 222,089 1,697 13.67 5.40 2.20 66.83 82.99 84.22 0.32 (4.76) 4.33
0.76 5.46 29 36 CVB Financial Corp. Ontario CA 16,020,993 1.35 10.91 11.03 3.31
39.94 47,495 221,435 235,425 (13,990) 15.50 4.10 0.83 55.04 77.12 96.53 0.13
(12.00) (1.96) (5.94) (2.49) 30 21 Ameris Bancorp Atlanta GA 25,203,699 1.06
10.90 8.12 3.61 50.86 242,646 269,105 346,540 (77,435) 14.45 5.52 2.05 80.32
97.75 83.25 0.19 (4.18) 1.01 (22.35) (0.69) 31 20 Eagle Bancorp, Inc. Bethesda
MD 11,664,538 0.84 10.88 8.11 2.56 48.18 21,413 100,534 140,930 (40,396) 14.79
5.48 3.17 67.58 89.50 74.82 0.57 (16.89) 4.16 (28.66) (12.48) 32 43 Fulton
Financial Corporation Lancaster PA 27,571,915 1.04 10.76 10.80 3.42 60.61
228,411 284,280 286,981 (2,701) 14.02 5.06 1.75 76.43 97.84 82.87 0.44 (6.54)
5.27 (0.94) 7.33 33 19 W.T.B. Financial Corporation Spokane WA 11,445,591 0.52
10.72 6.35 2.71 75.83 55,943 55,851 114,053 (58,202) 13.58 4.16 1.56 55.60 78.39
93.24 0.27 (16.16) 7.47 (51.03) (10.56) 34 33 BCI Financial Group, Inc. Miami FL
26,143,622 0.61 10.71 7.47 1.99 55.42 90,123 163,557 273,076 (109,519) 14.77
4.60 3.42 66.64 82.81 78.11 0.30 (2.13) 5.23 (40.11) (18.72) 35 40 FB Financial
Corporation Nashville TN 12,604,403 0.95 10.65 8.75 3.44 64.53 84,516 120,240
124,571 (4,331) 14.53 5.72 2.46 73.99 88.42 84.64 0.42 (5.37) 0.25 (3.48) (6.76)
36 41 Home Bancshares, Inc. (Conway, AR) Conway AR 22,656,658 1.77 10.62 10.82
4.25 45.22 163,024 392,929 305,262 87,667 17.79 6.03 1.89 62.39 84.21 90.16 0.40
(10.42) 0.12 28.72 8.60 37 32 Central Bancompany, Inc. Jefferson City MO
19,020,505 1.46 10.52 10.65 3.55 54.01 225,774 273,693 258,220 15,473 22.75 4.49
1.04 59.76 76.44 89.73 0.11 (7.63) 2.40 5.99 9.07 38 53 First Financial Bancorp.
Cincinnati OH 17,532,900 1.51 10.48 12.01 4.40 54.34 213,474 255,863 217,612
38,251 14.26 6.31 1.93 61.60 80.84 79.65 0.38 (3.26) 6.16 17.58 18.49 39 26
First Bancorp Southern Pines NC 12,114,942 0.87 10.44 8.05 3.06 56.61 57,490
104,131 146,936 (42,805) 15.54 4.30 1.33 66.39 80.18 90.25 0.27 10.06 22.32
(29.13) 2.88 40 47 First Hawaiian, Inc. Honolulu HI 24,926,474 0.95 10.42 10.01
2.92 57.59 200,023 234,983 265,685 (30,702) 13.57 4.23 1.32 56.96 66.55 75.84
0.07 (8.33) 1.79 (11.56) 5.43 41 35 BankUnited, Inc. Miami Lakes FL 35,761,607
0.49 10.28 7.01 2.56 60.78 96,890 178,671 284,971 (106,300) 13.38 5.39 2.99
68.32 92.06 80.56 0.25 (8.03) (1.24) (37.30) (3.55) 42 48 WaFd, Inc Seattle WA
22,640,122 1.07 10.16 9.80 3.20 52.37 56,923 236,370 265,558 (29,188) 13.74 5.32
2.25 77.67 109.64 66.81 0.24 (14.93) 3.48 (10.99) 1.54 43 50 Pinnacle Financial
Partners, Inc. Nashville TN 47,959,883 1.23 10.15 9.70 3.18 50.79 365,669
562,152 560,742 1,410 12.72 5.82 2.75 67.63 84.16 87.44 0.18 7.09 12.61 0.25
6.45 44 46 First Busey Corporation Champaign IL 12,283,415 1.00 10.10 10.23 2.88
60.68 123,824 122,565 128,311 (5,746) 17.44 4.31 1.47 61.56 73.48 82.32 0.06
(8.07) (0.96) (4.48) (1.97) 45 28 TowneBank Portsmouth VA 16,835,039 0.93 10.04
7.86 3.06 66.75 226,965 155,136 190,469 (35,333) 15.06 4.69 1.73 67.43 81.71
83.78 0.05 (3.63) 5.25 (18.55) (0.32) 46 44 Dime Community Bancshares, Inc.
Hauppauge NY 13,636,005 0.71 9.97 7.91 2.47 56.84 37,766 96,094 152,556 (56,462)
13.54 4.75 2.41 78.56 101.72 84.73 0.21 (2.36) 2.18 (37.01) (14.51) 47 NA
Brookline Bancorp, Inc. Boston MA 11,382,256 0.67 9.83 6.42 3.24 60.55 30,230
74,999 109,744 (34,745) 12.37 5.50 2.44 83.67 111.42 72.76 0.40 14.90 26.22
(31.66) 12.86 48 42 Lakeland Bancorp, Inc. Oak Ridge NJ 11,138,567 0.78 9.74
7.48 2.77 58.44 24,808 84,740 107,369 (22,629) 14.11 4.77 2.20 74.22 96.34 77.07
0.23 (10.14) 6.04 (21.08) (10.16) 49 NA SouthState Corporation Winter Haven FL
44,902,024 1.11 9.74 9.37 3.63 53.30 285,938 494,308 496,049 (1,741) 14.08 4.86
1.30 71.23 86.33 88.53 0.38 (3.34) 7.14 (0.35) 5.69 50 56 Old National Bancorp
Evansville IN 49,089,836 1.21 9.72 11.08 3.54 51.23 317,972 581,992 428,287
153,705 12.64 5.18 1.68 66.65 87.86 85.23 0.58 (0.81) 6.11 35.89 11.24 51 24
Glacier Bancorp, Inc. Kalispell MT 27,742,629 0.81 9.71 7.64 2.73 61.92 116,569
222,927 303,202 (80,275) 14.61 3.99 1.35 57.75 80.39 85.37 0.08 (13.62) 6.26
(26.48) (11.03) 52 29 United Community Banks, Inc. Blairsville GA 27,297,251
0.71 9.65 5.92 3.35 54.73 126,186 187,544 277,472 (89,928) 14.49 5.06 1.83 66.47
77.83 84.14 0.34 8.73 19.45 (32.41) 5.76 53 51 Provident Financial Services,
Inc. Jersey City NJ 14,210,810 0.92 9.57 7.81 3.14 55.06 79,799 128,398 175,648
(47,250) 12.39 4.84 1.80 75.76 104.61 89.39 0.43 (6.23) 5.96 (26.90) (5.13) 54
49 Veritex Holdings, Inc. Dallas TX 12,394,337 0.88 9.50 7.21 3.49 48.66 54,910
108,261 146,315 (38,054) 13.18 6.36 3.10 77.08 92.41 69.13 0.75 1.56 1.50
(26.01) 7.11 55 45 Community Bank System, Inc. DeWitt NY 15,555,753 0.87 9.44
8.27 3.14 63.00 266,968 131,924 188,081 (56,157) 15.46 3.88 0.77 61.96 74.55
86.69 0.32 (7.42) 10.17 (29.86) 3.66 56 66 Cadence Bank Tupelo MS 48,934,510
1.11 9.35 12.08 3.08 62.63 325,962 542,304 463,237 79,067 14.32 5.27 2.21 65.83
83.68 81.12 0.35 (11.45) 7.04 17.07 (0.99) 57 69 Northwest Bancshares, Inc.
Columbus OH 14,419,105 0.95 9.22 8.94 3.28 61.94 111,819 134,957 133,666 1,291
16.04 4.42 1.22 78.30 94.24 78.42 0.66 (10.13) 4.51 0.97 3.31 58 NA EB
Acquisition Company, LLC University Park TX 17,505,527 0.43 9.18 9.49 3.37 53.73
74,336 77,269 82,892 (5,623) 16.17 4.30 0.73 60.83 74.45 93.01 0.32 (9.10)
(10.67) (6.78) (9.74) 59 60 Atlantic Union Bankshares Corporation Glen Allen VA
21,166,197 0.98 9.16 8.27 3.41 55.29 102,287 201,818 234,510 (32,692) 13.55 5.28
1.95 73.28 92.22 80.69 0.17 (3.74) 8.14 (13.94) 2.82 60 55 Hope Bancorp, Inc.
Los Angeles CA 19,131,522 0.67 9.03 6.48 2.81 60.89 40,007 133,673 218,277
(84,604) 13.92 5.60 3.00 71.60 92.85 58.93 0.24 (18.00) (10.41) (38.76) (10.26)
61 12 Hilltop Holdings Inc. Dallas TX 16,466,996 0.71 8.89 5.65 3.09 85.47
728,973 117,979 119,294 (1,315) 22.34 5.53 2.64 54.12 80.56 88.57 0.45 (6.24)
(0.75) (1.10) (7.40) 62 39 Heartland Financial USA, Inc. Denver CO 19,411,707
0.40 8.73 4.38 3.31 60.02 120,373 79,920 212,180 (132,260) 14.53 5.23 1.97 61.57
73.76 82.13 0.50 (15.23) 5.54 (62.33) (0.56) 63 84 Berkshire Hills Bancorp, Inc.
Boston MA 12,430,821 0.59 8.58 7.07 3.31 65.22 67,326 69,598 92,533 (22,935)
14.36 5.14 1.95 71.89 84.04 74.75 0.14 (8.58) 8.41 (24.79) 5.01 64 73 Stellar
Bancorp, Inc. Houston TX 10,647,139 1.21 8.34 8.96 4.51 53.05 25,356 130,497
51,432 79,065 14.02 6.10 1.67 73.57 88.28 82.76 0.37 (12.55) 2.24 153.73 51.38
65 75 Texas Capital Bancshares, Inc. Dallas TX 28,356,266 0.64 8.33 6.11 3.19
68.76 157,455 189,141 332,478 (143,337) 17.07 5.68 2.76 71.01 90.00 92.05 0.29
(3.52) 5.58 (43.11) 8.75 66 68 United Bankshares, Inc. Charleston WV 29,926,482
1.25 8.14 7.87 3.52 50.95 142,333 366,313 379,627 (13,314) 15.38 5.36 1.98 70.69
92.71 85.42 0.11 (3.95) 3.81 (3.51) 1.59 67 74 F.N.B. Corporation Pittsburgh PA
46,157,693 1.09 8.11 8.29 3.35 51.19 321,764 484,851 439,109 45,742 12.16 5.00
1.73 70.20 93.36 82.11 0.24 (8.50) 8.10 10.42 13.51 68 67 First Interstate
BancSystem, Inc. Billings MT 30,671,200 0.83 8.08 8.17 3.14 59.72 167,600
257,500 202,200 55,300 13.28 4.57 1.46 59.01 77.60 87.35 0.40 (12.31) 0.78 27.35
(7.16) 69 71 Independent Bank Corp. Rockland MA 19,347,373 1.24 7.90 8.31 3.54
52.55 121,138 239,502 263,813 (24,311) 15.91 4.64 1.18 73.10 95.13 85.33 0.28
(13.59) 2.64 (9.22) (0.16) 70 59 Farmers & Merchants Bank of Long Beach Long
Beach CA 12,035,854 0.57 7.83 5.28 2.21 71.98 16,447 70,007 109,002 (38,995)
17.51 3.49 1.11 55.23 76.66 87.78 0.31 (7.59) (0.41) (35.77) (14.63) 71 65
Pacific Premier Bancorp, Inc. Irvine CA 19,026,645 0.15 7.80 1.08 3.29 55.66
79,927 30,852 283,743 (252,891) 17.29 4.68 1.49 68.83 87.34 84.71 0.13 (14.50)
(9.57) (89.13) (10.10) 72 72 Trustmark Corporation Jackson MS 18,722,189 0.89
7.78 10.54 3.32 68.44 206,919 165,489 71,887 93,602 12.29 5.22 1.97 69.41 83.47
78.31 0.57 (7.27) 6.36 130.21 8.57 73 76 OceanFirst Financial Corp. Red Bank NJ
13,538,253 0.77 7.74 6.37 3.01 59.63 38,053 104,065 147,357 (43,292) 14.10 4.94
2.06 74.91 97.19 76.62 0.27 (1.75) 2.76 (29.38) (4.49) 74 61 Seacoast Banking
Corporation of Florida Stuart FL 14,580,249 0.71 7.63 5.14 3.77 57.45 79,928
104,033 106,507 (2,474) 15.92 5.32 1.61 68.03 84.22 87.47 0.50 8.90 23.46 (2.32)
31.11 75 77 WesBanco, Inc. Wheeling WV 17,712,374 0.92 7.61 6.43 3.14 62.24
119,547 159,032 192,113 (33,081) 14.91 4.63 1.58 65.06 87.51 90.25 0.16 (2.40)
8.79 (17.22) 1.57 76 57 Associated Banc-Corp Green Bay WI 41,015,855 0.45 7.42
4.45 2.81 58.79 258,324 182,956 366,122 (183,166) 12.21 5.25 2.56 70.68 86.67
78.13 0.40 (5.69) 1.69 (50.03) 5.01 77 63 Prosperity Bancshares, Inc. Houston TX
38,547,877 1.08 7.41 6.03 2.78 45.79 153,265 419,316 524,516 (105,200) 16.56
4.19 1.54 54.08 76.70 86.97 0.18 (10.89) 12.34 (20.06) (3.53) 78 78 Renasant
Corporation Tupelo MS 17,360,535 0.84 7.36 6.50 3.45 63.21 151,945 144,678
166,068 (21,390) 14.93 5.26 1.88 71.04 87.61 80.83 0.45 (3.48) 7.27 (12.88) 6.46
79 58 Simmons First National Corporation Pine Bluff AR 27,345,674 0.64 7.30 5.21
2.78 61.96 176,175 175,057 256,412 (81,355) 14.39 5.09 2.34 60.81 74.76 71.02
0.33 (11.14) 4.27 (31.73) (6.44) 80 70 Columbia Bank MHC Fair Lawn NJ 10,639,953
0.25 6.87 3.34 2.20 75.47 30,148 26,137 60,108 (33,971) 13.27 4.11 2.05 73.55
99.13 68.50 0.20 (11.03) 2.63 (56.52) (17.75) 81 81 Apple Financial Holdings,
Inc. New York NY 17,001,650 0.69 6.54 8.92 2.73 66.82 20,338 119,109 92,991
26,118 12.28 4.87 2.27 68.41 78.45 50.97 0.14 (15.42) 2.21 28.09 9.47 82 62
Independent Bank Group, Inc. McKinney TX 19,035,102 0.23 6.24 1.83 2.76 62.81
52,384 43,201 196,291 (153,090) 11.57 5.25 2.60 76.57 92.70 72.77 0.31 (16.48)
5.83 (77.99) (16.36) 83 79 Dollar Mutual Bancorp Pittsburgh PA 11,503,509 0.40
4.37 3.77 2.90 81.17 42,878 46,980 62,372 (15,392) 17.42 4.48 1.51 76.67 93.41
74.18 0.76 (11.03) 4.88 (24.68) 1.06 84 82 Third Federal Savings and Loan
Association of Cleveland, MHC Cleveland OH 17,053,736 0.36 3.58 3.27 1.76 69.52
18,543 60,351 66,008 (5,657) 20.07 4.12 2.55 89.18 151.36 27.05 0.64 (10.44)
4.99 (8.57) (2.33) 85 15 First Foundation Inc. Dallas TX 13,327,248 (1.52) 1.79
(19.45) 1.59 93.82 47,047 (199,064) 110,512 (309,576) 12.27 4.50 3.11 76.15
94.94 70.55 0.15 (11.30) (5.09) NM (32.98) 86 83 Banc of California, Inc.
Portland OR 38,534,064 (4.71) (12.16) (63.42) 1.98 88.15 142,596 (1,899,137)
423,613 (2,322,750) 16.43 5.21 3.34 65.74 83.32 78.18 0.18 300.72 (11.04) NM
(37.16)

Jim Dobbs
Deputy Editor, Community Banks, American Banker
2024 Top-Performing Banks Community banking Lending Deposits

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