FARMINGTON HILLS — SNL Financial has announced that Level One Bank is one of the Top 100 Performing Community Banks of 2013 with assets between $500 million and $5 billion.
SNL ranked the best-performing community banks using six core financial performance metrics that focus on profitability, asset quality and growth for the 12-month period ended Dec. 31, 2013. The metrics used were return on average tangible assets before tax, net charge-offs as a percentage of average loans, adjusted Texas ratio, efficiency ratio, net interest margin and loan growth. SNL measured each company’s standard deviation from the mean of each metric. The standard deviations, which are equally weighted, were added together to calculate a performance score for each company.
“Level One Bank is grateful to be recognized as a top community bank in the country,” said Patrick J. Fehring, president & CEO of Level One Bank. “It is a testament to the dedication and quality of our team members, leaders, and Board of Directors.” The Bank’s growth has been remarkable over the past few years with a twenty five percent increase in 2013 alone.
SNL ranked companies at the bank holding company level if consolidated data was reported; otherwise, commercial bank subsidiary was used. Thrifts were excluded, and companies that have parents with assets above $5 billion were also excluded. Based on these criteria, 784 companies were eligible for the top 100 ranking of banks with assets between $500 million and $5 billion.