SNL Financial Recognizes FNB Dieterich
Published on March 22 2013 5:55 pm
Last Updated on July 14 2013 4:07 pm
Written by Greg Sapp
SNL Financial, a leading provider of financial information on more than 6,500 public companies and 50,000 private companies in the business sectors critical to the global economy, has named The First National Bank of Dieterich as the 62nd best performing community bank between $500 million and $5 billion in the United States.
SNL ranked the best performing community banks using six core financial performance metrics that focus on profitability, asset quality, and growth for the 12-month period ended Dec. 31, 2012. The metrics used were: return on average tangible assets before tax, net charge-offs as a percentage of average loans, adjusted Texas ratio, efficiency ratio, net interest margin and loan growth. SNL measured each company’s standard deviation from the mean of each metric. The standard deviations, which are equally weighted, were added together to calculate a performance score for each company.
The First National Bank of Dieterich is the only community bank in Illinois to receive this honor. This is the first year that the bank has appeared on the top performers list. When CEO Chuck Deters was asked to comment about the ranking, he stated, “I am very proud to be a part of such a great organization. Our employees and loyal customers are the reason for the bank’s success.”