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S&P Global Market Intelligence's 2024 Rankings: Outstanding Community Banks and Credit Unions

S&P Global Market Intelligence has revealed its much-anticipated annual rankings for the best-performing community banks and credit unions in the United States for 2024. As financial institutions operate in an ever-changing macroeconomic landscape, these rankings play a crucial role in recognizing the best among them, ensuring local communities are served effectively.

Comprehensive Performance Metrics

The rankings not only identify the top performers but also assess them based on a thorough analysis of various metrics, including returns, growth, and funding. However, it is the strength and risk profile of balance sheets that hold particular importance in these evaluations. Since their inception in 2011, these rankings have provided valuable benchmarks for understanding how well banks and credit unions are faring in the competitive financial landscape.

National Highlights

1. Best Public Bank: The title of the best-performing public bank with assets exceeding $10 billion goes to Axos Financial Inc. This institution distinguished itself by achieving top 20 scores across all seven ranking metrics, showing remarkable consistency and performance.
2. Best Community Bank (Assets $3B-$10B): Olney Bancshares of Texas Inc. was recognized as the best community bank in this asset category. With over $4.53 billion in total assets, Olney excelled in six out of eight evaluated metrics, demonstrating its strong market presence.
3. Best Community Bank (Assets under $3B): FNB South took the top spot among community banks with assets of less than $3 billion, outperforming the median across multiple metrics, including credit quality and capital ratio.
4. Best Credit Union: The top credit union for 2024 is WCLA CU, which climbed from fourth place last year. Its member participation in shares-and-deposits highlighted strong community trust and investment.

Regional Highlights

The rankings also recognize outstanding institutions by region, ensuring that community banks across the country receive their well-deserved spotlight:

• - Midwest: American Interstate Bank led among banks with under $10 billion in assets, achieving the top scores in most performance metrics.
• - Northeast: NorthEast Community Bank secured its position by meeting or exceeding median performance markers in several categories.
• - Southeast: Reaffirming its earlier success, FNB South again excelled, showing consistent improvement across various evaluation metrics.
• - South Central: First State Bank of Odem topped its regional list, showcasing high performance against its competitors.
• - West: Security State Bank distinguished itself by outperforming most banks in essential financial metrics, continuing its success from the previous rankings.

Importance of These Rankings

Nathan Stovall, Director of Financial Institutions Research at S&P Global Market Intelligence, stated that despite the shifting economic conditions, these banks and credit unions remain committed to serving their communities. He emphasized the vital role of transparent data and insights in helping these institutions navigate potentially turbulent environments and assured stakeholders of the commitment to providing dependable rankings.

As communities look to their financial institutions to provide stability and growth, the 2024 rankings shed light on the organizations that stand out in their commitment to quality service and robust financial health. For more insights and the complete list of rankings, interested parties are encouraged to visit S&P Global Market Intelligence.

About S&P Global Market Intelligence

S&P Global Market Intelligence offers unparalleled information and deep insights, ultimately empowering clients to make informed and confident decisions in a complex market. As a part of S&P Global, it plays an instrumental role in providing credit ratings, benchmarks, analytics, and workflow solutions to organizations worldwide.