Magazines cite several area banks among top performers
Several area banks were recently cited as top performers by two national magazines on the basis of returns in 2008.
The ABA Banking Journal magazine listed the top 25 "non-Subchapter S" banks and thrifts with less than $100 million in assets, as determined by 2008 return on average equity.
First National Bank in Mattoon came in second nationally, with a return on average equity of 38.97 percent and a return on average assets of 3.07 percent.
First National Bank of Ogden came in 19th nationally, with a return on average equity of 15.84 percent and a return on average assets of 1.12 percent. Last year it placed 29th nationally.
Longview State Bank, Sidney, placed 21st nationally, with a return on average equity of 15.61 percent and a return on average assets of 1.14 percent. Last year it placed 40th nationally.
Bank of Rantoul ranked 17th nationally among "Subchapter S" banks and thrifts with assets between $100 million and $3 billion. It had a return on average equity of 30.87 percent and a return on average assets of 2.30 percent.
Separately, the Independent Community Bankers of America's national magazine, Independent Banker, listed the "ICBA 400 Top Performers." That distinction was given to 400 top banks, in terms of 2008 earnings, that are ICBA members.
Area banks earning mention on the list included:
– First National Bank in Mattoon, which ranked second in terms of both return on assets (3.07 percent) and return on equity (38.97 percent) among "Subchapter C" banks with assets between $50 million and $100 million.
– First National Bank of Ogden, which ranked 10th in terms of return on equity (15.84 percent) among "Subchapter C" banks with assets between $50 million and $100 million.
– Bank of Rantoul, which ranked seventh in terms of return on equity (30.87 percent) among "Subchapter S" banks with assets between $100 million and $250 million.
– First Trust and Savings Bank of Watseka, which ranked 13th in terms of return on assets (1.60 percent) among "Subchapter C" banks with assets between $100 million and $250 million.
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