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American National earns top bank award

American National Bankshares Inc. (American National – NASDAQ “AMNB”) announced Friday that it has received the second annual 2013 Raymond James Community Bankers Cup award, which recognizes the top 10 percent of community banks. 

American National also received the 2012 award, the first year that it was established. Raymond James analysts evaluated 302 community banks nationwide that are exchange-traded domestic banks with assets between $500 million and $10 billion as of Dec. 31. Each bank’s performance was judged by various metrics regarding profitability, operational efficiency and the balance sheet.

 “As we enter our 106th year as a community bank, I’m very excited for American National to receive this prestigious award,” said Jeffrey V. Haley, president and chief executive officer of both holding company American National Bankshares Inc. and its subsidiary, American National Bank and Trust Company. 

“Our strength and stability as a financial institution coupled with our commitment to the customer and to providing 21st century banking solutions is what sets us apart. For Raymond James to recognize our results two years in a row is outstanding.”

According to James, the recipients of the Community Bankers Cup “demonstrated superior performance on a relative basis in one or more of the following measurements of financial performance and stability: nonperforming assets to loans and real estate owned, five-year average core deposit percentage, net interest margin, efficiency ratio, return on average assets and return on average tangible common equity.”

“The 2013 Raymond James Community Bankers Cup winners have reported average one-year, three-year and five-year total returns of 52.5 percent, 98.2 percent and 174.9 percent, respectively, well above the industry as measured by the NASDAQ BANK Index one-year, three-year and five-year returns of 38.9 percent, 40.8 percent and 28.4 percent, respectively,” said James.  

The winners also compare favorably to the NASDAQ Composite and S&P 500.