- Last Updated on 12:56 PM 05/27/12
- BY Special to the Gazette
Ranked at number 43 in the nation, Benchmark Community Bank has once again been named to the Top 200 list of community banks by American Banker magazine (formerly U.S. Banker).
The ratings, based on performance, were revealed earlier this month and are included in the May issue of the magazine. There are more than 7,000 banks in the U.S. A majority of them are considered community banks.
This is the sixth year in a row that Benchmark has been named to this prestigious list. Each year, they have risen in the rankings. Last year, the Kenbridge-based bank came in at #51.
Of the 15 banks from Virginia that made the list, Benchmark was fourth. The Virginia Association of Community Banks currently lists approximately 90 member banks.
The main factor used in the rankings is a 3-year Return on Equity (ROE). Benchmark’s 3-year ROE for this ranking was 12.03 percent. Total assets at the end of 2011 were $416 million.
The article introducing this year’s top 200 is titled “Simply the Best” and states, “The best performers among banks and thrifts with less than $2 billion of assets aren’t just marginally better than their overall peer group — they’re more than twice as good.”
Benchmark President and CEO Mike Walker is pleased that Benchmark ranks so highly among all community banks in the country saying, “We don’t aspire to recognition like this but it is nice when we do get it. It is a confirmation that we are on the right track with what we do day in and day out for our customers, our shareholders, and Southside Virginia.”
Founded in 1971, Benchmark Community Bank celebrated its 40th anniversary last September. The locally owned and operated full service bank serves Southside Virginia. Branch offices are located in Kenbridge, Victoria, Farmville, South Hill, Crewe, Lawrenceville, Clarksville, Chase City, Blackstone, South Boston, and Halifax.
Additional information about Benchmark can be found at www.bcbonline.com.