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 eighth time. Consumers ranked 101st nationally—up from 102—and one of 16 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 2019, 2020 and 2021). 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, 2021, Consumers Bancorp reported assets of $954 million. The Corporation’s average return on equity over the period reviewed was 11.09 percent.
Consumers Bancorp exceeds the 2021 median ROAE for the 438 publicly traded community banks with less than $2.0 billion in assets. American Banker reports the Consumers 2021 return on average equity was 14.08%. The 2021 median ROAE for the top 200 banks was 13.40% and 10.64% for all banks in the asset group.
“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. “During the three-year period reflected in the American Banker ranking, the bank’s assets increased over 84% to $955 million. Our entire staff worked incredibly hard over this period to achieve that growth and the results recognized by American Banker magazine. Over the period, our staff completed a merger, acquired two branches, expanded into two new markets with de-novo locations, and built a new facility in an existing market. They also navigated the ramifications of a global pandemic and successfully implemented the SBA Paycheck Protection Program and other government stimulus initiatives. If we continue to work together on new initiatives while maintaining a strong commitment to the communities we serve, we will continue to be included in the Top 200, which is an industry benchmark for high-performing community banks,” said Lober.