NASHVILLE, July 23, 2012 -- Bank Director magazine has released its 2012 Bank Performance Scorecard, listing the top performing publicly traded banks across the nation in four asset categories, from biggest to smallest, based on 2011 results.
To see if a bank from your region made the list, see BankDirector.com for the complete ranking.
The top performing banks this year included names that aren’t often in the headlines, partly because they have escaped some of the worst of the financial crisis. They have been making huge gains and transforming their businesses within the last few years, including McLean, Virginia-based Capital One Financial Corp; Columbus, Ohio-based Huntington Bancshares Inc.; and San Francisco-based Wells Fargo & Co.
The top performers in the second largest category illustrated a comeback that was visible throughout the industry. After difficult times, new investors swooped in and made success stories out of a few struggling banks, including Pacific Capital Corp., in Santa Barbara, California, and BankUnited Inc. in Miami Lakes, Florida, which was born out of the ashes of a failed bank in 2009.
Other high ranking banks who rebounded strongly in the last few years include Boyertown, Pennsylvania-based National Penn Bancshares and Wellsboro, Pennsylvania-based Citizens & Northern Corp.
Asset quality on bank balance sheets improved in 2011, which helped reduce loan losses and increase earnings. Scott Siefers, a managing director and bank stock analyst at Sandler O’Neill + Partners, also cited a big improvement in the efficiency ratios, which further enhanced profitability. “There was a big emphasis placed on the expense side of the income statement,” he said.
The 2012 Bank Performance Scorecard is a rigorous examination of profitability, but also of capital strength and asset quality. So a bank can’t get highly leveraged to boost profits and score highly. The bank must also show strong capital and good asset quality. The combined score determines where a bank ranks.
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Since 1991, Bank Director has served as a leading information resource for the directors and officers of financial institutions. Through its quarterly magazine, executive-level research, annual conferences, and its website, BankDirector.com, Bank Director reaches the leaders of the institutions that comprise America’s $11 trillion banking industry. Bank Director is published by DirectorCorps, and headquartered in Brentwood, Tennessee.
Source: Bank Director Magazine
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