CBSI on Forbes Best Banks in America List
Community Bank Systems, Inc. remains at the top of Forbes “Best Banks in America” list.
Feb 23, 2016
The name Forbes is synonymous with lists. From the wealthiest people in the world, to the most innovative companies, to the best business schools, Forbes is known for their high-profile rankings of financial institutions.
That’s why BPAS takes pride in the fact that our parent company Community Bank System, Inc. (CBSI) has consistently ranked at the top of Forbes “Best Banks in America” list. CBSI has maintained its position in the highest percentile of banks and is currently ranked 8th out of 100 for this year. The banks range in size from $7 billion-in-assets to $2.4 billion giant JPMorgan Chase.
Forbes’ ranking system is based on 10 metrics regarding asset quality, capital adequacy, growth and profitability. The metrics used were:
- Total Assets
- Net interest margin
- Non-performing assets as a percent of assets
- Reserves as a percent of NPLs
- Tier 1 capital ratios
- Risk-based capital ratios
- Revenue growth over the last 12 months
- Return on average tangible common equity
- Net charge-offs as a percent of total loans
- Efficiency ratio
Using these metrics, Forbes was able to measure each bank’s resilience as well as its ability to create return on investment. For CBSI, this speaks to their strength as a community based bank. From a financial performance standpoint, they are meaningfully ahead of their regional peers, giving proof to the adage that bigger isn’t always better.
Being included on this list is about more than competition, it’s a confirmation that CBSI’s business strategies are producing above-peer results. This is a big win for the institution and its employees, and demonstrates a commitment to the ongoing objective of year-over-year improvements.
As far as how that relates to BPAS, CBSI is the sole owner of BPAS. Like CBSI, BPAS has also exhibited several years of excellent growth and results. Having CBSI as our parent company provides us with a level of financial support and strength. The ability to confidently cross sell products and services is a plus and this support allows BPAS to continue to focus on new customer acquisition and potential merger opportunities.