Advertisement

Banks with local branches named top performers

Three banks operating in the Columbia market have made the American Bankers Association list of Top 25 Performers of 2008.

Commerce Bancshares, based in Kansas City, moved from No. 24 to No. 16 in the annual ranking published in the June edition of the ABA’s Banking Journal. Central Bancompany, based in Jefferson City, was ranked No. 24, moving from its previous spot of 71. UMB Financial Corp., based in Kansas City, moved from the 87th spot to 25th on the list.

Commerce Bank is the third largest bank in the Columbia market, based on the latest FDIC Deposit Market Share Report. Central Bank has one office in the local market and is the parent company of the metropolitan area’s largest bank, Boone County National Bank. UMB Bank has two local offices and is the 11th largest bank in the market.

The study included only financial institutions with assets over $3 billion as of Dec. 31, 2008, and its main criteria was return on average equity for 2008. Other criteria included revenue, the ratio of price to earnings and the percentage of non-performing loans.

The ABA report said financial institutions that performed well in the difficult economic environment last year were those that excelled at traditional banking activities, such as producing low-cost core deposits, making quality loans and providing consistently good service.

“We have built a foundation of people, community, technology and local management that has stood the test of time,” Bryan Cook, Central Bancompany CEO, said.

Nearly 67 percent of large public banks and thrifts participated or were allowed to participate in the Troubled Asset Relief Program. Cook said Central Bancompany and its 13 member banks, including BCNB, did not need to seek any TARP funds. Commerce and UMB financial also did not seek TARP funds.