For the 14th consecutive 12 months, Benchmark Neighborhood Bank has been named one of many nation’s High 200 Neighborhood Banks.
Of the greater than 5,000 banks positioned in the US, the High 200 compares efficiency amongst neighborhood banks with asset dimension under $2 billion. The annual peer evaluation is sponsored by American Banker journal, the acknowledged chief in monetary business publications.
Ranked at #62 on the 2020 High 200 checklist, Benchmark is third in Virginia behind First Nationwide Company (First Bank), Strasburg (#29), and First Bancorp (First Bank & Belief), Lebanon (#35). A complete of 11 Virginia neighborhood banks are included on the checklist.
“This the 14th consecutive year Benchmark has been named to the Top 200,” Benchmark President/ CEO Jay Stafford mentioned. “Our goal is to provide banking solutions that help our customers and communities reach their financial goals despite any situation we encounter. Benchmark’s legacy is built on solid financial ground supported by sound banking practices, so we are prepared to adjust to changes with which we’re presented.”
Claude Hanley is a accomplice in Capital Efficiency Group that compiles the information for the annual rating. He noticed that neighborhood banks on the High 200 checklist managed to include expense progress, thereby counterbalancing decrease revenue margins caused by decrease rates of interest.
“Community banks are defined by how well we support the communities we serve,” Stafford mentioned. “Looking at the current year, the COVID-19 pandemic has created a global conundrum none of us anticipated on January 1. How community banks and other financial institutions respond to the needs of our customers is what will define us as a vital community resource working to assist both business and consumer customers through a situation we haven’t seen in over 100 years.”