Antique cash register National archives, author unknown, Wikimedia Commons
FORT MYERS — Sanibel Captiva Community Bank is among 20 top banks in S&P ranks in the Global Market Intelligence 2016 report of 100 best-performing community banks.
Sanibel Captiva was ranked 19th and is one of just three banks in the state named to the top 100. More than 4,500 others were eligible, according to a press release from the Greater Fort Meyers Chamber of Commerce.
The banks on the list have less than $1 billion in assets in the United States.
“Sanibel Captiva Community Bank’s ranking attests to our exponential growth and strength in the community we serve,” Sanibel Captiva President and CEO Craig Albert said in the release. “Our strong financial performance allows us to give back to the community through financial support and volunteerism for more than 90 Southwest Florida nonprofit organizations, helping make our community even stronger.”
Six metrics were used by the S&P Global Market Intelligence. Those included pretax return on average common equity, net charge-offs as a percentage of average loans, efficiency ratio, adjusted Texas ratio, net interest margin and loan growth, according to the release.
S&P Global Market Intelligence Senior Director of Global Financial Institutions J.P. O’Sullivan said in a statement that the finalists' performance is impressive.
“The performance of the finalists is extremely impressive, especially in such a competitive banking environment. Community banks and credit unions are an integral part of their local economies, helping people and businesses access credit and drive dollars back into the community," O'Sullivan said. "Each of these institutions has demonstrated a clear commitment to excellence, and the results speak for themselves.”
The requirement for eligibility included a loan-to-asset ratio of at least 33 percent with no more than half of a bank's loans from credit card debt, according to the chamber.
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