Piper Sandler, S&P World Market Intelligence, supplied the scorecard utilizing information based mostly on year-end 2019 efficiency. As in earlier research, the scorecard divided banks into three asset classes: $50 billion and above, $5 billion to $50 billion and $1 billion to $5 billion. Of the banks within the report, First Bancorp, Inc. was ranked the highest bank in Virginia and Tennessee along with being ranked the 23rd highest performing bank in america. First Bancorp, Inc. was additionally ranked 12th amongst all banks within the nation with belongings between $1 billion and $5 billion.
Information for the scorecard was compiled by Piper Sandler, utilizing information from S&P World Market Intelligence. The Scorecard used a mixture of metrics to measure efficiency. Profitability is measured by return on fairness and return on belongings. Asset high quality is represented by a mixture of nonperforming belongings and web charge-off ratios. Capital adequacy is outlined by a bank’s widespread fairness ratio.
President and CEO of First Bank & Belief Firm, W. Mark Nelson commented on the rankings, “We stay dedicated to the founding values which have performed a pivotal position in putting First Bank and Belief Firm among the many prime performing banks within the nation. Our monetary energy permits the bank to proceed assembly the monetary service wants of our communities via an skilled and devoted workforce offering distinctive value for our clients and our communities.” Obtain the High 25 Banks ReportDownload the $1-$5 Billion Bank ReportAbout First Bank & Belief CompanyFirst Bank & Belief Firm, one of many prime group banks in america, is a diversified monetary companies agency with workplace areas in southwest Virginia, northeast Tennessee, and New River and Shenandoah Valleys. Monetary goals are addressed by providing free checking merchandise for private and enterprise accounts, and assessing lending options managed by mortgage, agricultural and industrial lending divisions. Complete monetary options can be found via belief and brokerage service representatives. For extra info, go to www.firstbank.com or contact Nicole Franks [email protected] SOURCE First Bancorp, Inc. Associated Hyperlinks https://www.firstbank.com