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. Consumers ranked 41st nationally—up 60 spots from 101st—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 2020, 2021 and 2022). 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, 2022, Consumers Bancorp reported assets of $1.01 billion. The Corporation’s average return on equity over the period reviewed was 18.64 percent.
Consumers Bancorp exceeds the 2022 median ROAE for the 400-plus publicly traded community banks with less than $2.0 billion in assets. American Banker reports the Consumers 2022 return on average equity was 14.08%. The 2022 median ROAE for the top 200 banks was 12.6% and 10.6% for all publicly traded 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. “2020 through 2022, the three years included in the review, were all impacted by the uncertainties and fear surrounding the pandemic. Undeterred, our staff closed two acquisitions, added six branches, including a de novo location, and increased assets, loans, and deposits by 85%, 67%, and 76% respectively. Our entire team worked incredibly hard over this period to achieve that growth and the results recognized by American Banker magazine. They deserve this recognition. 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.