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Community Bank News
Community Bank of Parkersburg Named One of Top 200 Community Banks in United States (Bank is Ranked as No. 31)
Parkersburg, W.Va. — In the June issue of U.S. Banker magazine, Community Bank of Parkersburg was ranked as No. 31 in the top 200 community banks in the US among approximately 9,500 banks nationwide. Community Bank is the highest ranked bank among the West Virginia Banks that made the list.
"We're proud to be regarded as one of the leading community banks in the country," said Community Bank President and CEO Randall Snider. "As one of the few remaining locally owned and independent banks in Wood County, we are extremely pleased with the stability of the bank, its continued growth and the excellent return on investment we provide to our shareholders."
In an article titled "In Careful Pursuit of Growth," the magazine published its top 200 list based on the three-year return on average equity (ROAE) for community banks, typically described as banks under $1 billion in assets. Return on average equity measures the percent of net income to average equity, a key ratio often used as a benchmark by financial experts. The ranking also takes into account other key ratios including three-year averages on earnings per share growth, market values and capital ratios.
"We've been around almost 100 years because we provide our customers with safe, sound and secure banking services," Snider said. "Our employees are top notch and our top three senior executives at the bank have a combined 100 years of banking experience."
Community Bank opened July 17, 1917 and it moved to its present location along Juliana Street in 1921. Since that time, branch expansion has occurred in order to keep pace with the bank's growth and the needs of the community. The bank now operates full service branch offices in Vienna, North Parkesburg and South Parkersburg in addition to the downtown Juliana Street location.
Snider noted that he has received over 30 notes of congratulations from colleagues in the banking industry around the country for this top honor.
"I appreciate the fact that our accomplishments here in Parkersburg are getting noticed by others around the country, but I am even more appreciative for our shareholders, customers, and our employees to receive this recognition," Snider said.
About Community Bank
Community Bank has assets in excess of $200 million and total deposits of more than $140 million. Founded in 1917, Community Bank offers full-service banking, including investment services, as well as loans to consumers and local businesses. Community Bank delivers customized, personal service and local decision-making combined with the convenience of four Wood County banking offices and cutting-edge technology. For more information, visit http://www.communitybankpkbg.com.
About U.S. Banker
U.S. Banker, a monthly magazine published by SourceMedia, is the leading banking business management magazine, written for those individuals who are charged with generating greater profits and shareholder value for their financial institutions. Originally titled United States Investor when it was launched in 1891, U.S. Banker is the magazine that senior-level industry executives have turned to for the latest industry coverage for the past 112 years. For more information, visit http://www.us-banker.com.