Consumers National Bank Again Ranks Among Top 200 Publicly Traded Community Banks
American Banker magazine has listed Consumers Bancorp, Inc., the Minerva, Ohio based single-bank holding company of Consumers National Bank, among the Top 200 Publicly Traded Community Banks in the U.S. for the seventh time. Consumers ranked 102nd nationally—up from 167—and one of 15 Ohio banks that made the list.
The national ranking is based on each bank’s return on average equity (ROAE) over the past three years (calendar years 2018, 2019 and 2020). ROAE is annualized net income divided by average equity. The list ranked performance of publically traded banks with less than $2.0 billion in assets. At December 31, 2020, Consumers Bancorp reported assets of $754 million.
The median 3-year average ROAE for all 200 institutions on the list was 11.23 percent. Consumers posted an average ROAE of 11.81 percent over the period. The average return on equity for the 479 publicly traded community banks with les than $2.0 million in assets was 8.60%.
“Being included in the annual ranking requires a consistent focus on our customers and communities from everyone in the organization,” said Ralph J. Lober II, President and CEO of Consumers National Bank. “Our entire staff worked incredibly hard over this three-year period to achieve the results recognized by American Banker magazine. Over the period, our staff completed a merger and related conversion, worked through the ramifications of a global pandemic, successfully implemented the SBA Paycheck Protection Program and other government stimulus initiatives, and opened two new branch locations. Everyone at Consumers National Bank is committed to making a difference in the communities we serve. If we do that well, we will continue to be included in the Top 200, which is an industry benchmark for high-performing community banks,” said Lober.
Ralph J. Lober II, President and CEO of Consumers National Bank, announces the bank’s ranking in the annual American Banker magazine list of the Top 200 community banks in the U.S.
Consumers National Bank is an independent community bank that provides a comprehensive line of banking and other investment services to business and personal customers through its main office in Minerva, and branches in Adena, Alliance, Bergholz, Brewster, Canton, Carrollton, Dillonvale, Fairlawn, Green, East Canton, Hanoverton, Hartville, Lisbon, Louisville, Malvern, Mount Pleasant, Salem, Waynesburg, and a Business Lending office in Wooster, Ohio. More information about Consumers National Bank can be accessed online at www.Consumers.Bank