Tulsa, OK (PRWEB) April 01, 2017
Patriot Bank is gaining national attention once again as they have been named one of 2016’s top 100 best performing community banks with assets less than $1 billion. Patriot Bank claimed the top ranking of all Oklahoma community banks and 9th nationwide.
Jumping 23 spots in one year, Patriot Bank previously ranked 32nd in 2015. With 4,585 banks eligible for the ranking, this category recognizes community banks with assets less than $1 billion at year-end 2016 compared to previous years where ranking was limited to institutions with less than $500 million in assets.
S&P Global Market Intelligence looked at banks that possessed a loan-to-asset ratio of at least 33% and no more than half of those loans could come from credit cards. In addition, the company had to be well-capitalized, according to current regulatory standards, with no more than half of the institution’s revenue coming from nontraditional banking activities. Performance was based on six core financial metrics, which included pretax return on average tangible common equity, net charge-offs, adjusted Texas ratio, efficiency ratio, net interest margin and loan growth.
“We’re thrilled to receive this honor three years in a row,” said CEO Mike Bezanson. “It’s always great to see community banks being recognized for their sound business models. Our ultimate goal is to meet or exceed our customers’ expectations with consistently dependable, high-quality service. We truly believe in going the ‘extra mile.’ It is especially rewarding to see the results acknowledged on the national level once again.”
S&P Global Market Intelligence is a leading provider of financial information that operates in 20 countries worldwide and harnesses 135 billion data points per year. The company collects, interprets and analyzes vast volumes of content, providing insight on global financial markets and the companies and industries that comprise those markets.
Patriot Bank was originally founded in 1995, acquired by a newly formed ownership group in late 2009, and moved to their current headquarters in South Tulsa at 9292 South Delaware Avenue in 2013. Patriot Bank specializes in providing financial services to professionals as well as small businesses and is actively dedicated to building a solid relationship with their customers based on trust, honest service and dependability.