(MENAFN- EIN Presswire)
Citizens bank of WV was recently recognized for financial performance in the top 10% of banks in the nation, ranked 10th in its peer group.
Citizens Financial Corp. (OTCMKTS:CIWV)
We especially take great pride in what this recent national ranking represents.” — Nathaniel S. Bonnell, President & CEOELKINS, WV, UNITED STATES, March 2, 2022 /EINPresswire.com / -- Citizens Bank of West Virginia, the bank subsidiary of Citizens Financial Corp. (OTCMKTS:CIWV), was recently recognized by CB Resource,
Inc. for financial performance in the top 10% of banks in the nation, ranking 10th among 638 banks with total assets between $250 and $499 million. Citizens was the only bank headquartered in West Virginia in that asset range to make the CB Top Ten™ report that uses a scorecard based approach with eight performance indicators to identify the top performing banks in the country.
The CB Top Ten™ groups community banks into five peer categories based on total assets. The rankings are based on bank performance within key performance indicator categories and their collective performance in all categories. The key indicators include asset growth, return on average assets, return on average equity, net interest margin, efficiency ratio, non-performing assets, non-interest-bearing deposits, and non-interest income. Citizens Bank of West Virginia ranked number 10 nationwide for the entire year's performance in 2021 among its peers.
Citizens also received a five-star rating for financial strength and security in all of 2021 from Bauer Financial, Inc., the nation's leading independent bank rating and research firm. This rating indicates that the bank excels in areas of capital adequacy, profitability, asset quality, and much more.
In addition, our financial performance in 2021 builds on our success from the previous year in which Citizens Bank of West Virginia was named to American Banker magazine's Top 200 Publicly Traded Community Banks and Thrifts in the nation – ranking 64th on its prestigious nationwide list published in the May 2021 issue. Citizens was ranked the highest in West Virginia and the only bank headquartered in this region of the state to make the list.
“This recognition and accolades we continue to earn are a testament to our exceptionally dedicated and professional staff and reaffirms that Citizens is a financial institution that our customers and communities can trust for all their banking needs,” said President & CEO Nathaniel S. Bonnell.“We especially take great pride in what this recent national ranking represents.”
About Citizens Bank of West Virginia
Citizens provides integrated financial services including retail and commercial banking, wealth management, and mortgage services from six offices in Elkins, Parsons, Beverly, Snowshoe, Buckhannon and New Martinsville. The bank is a wholly owned subsidiary of Citizens Financial Corp. For more information, visit us online at .
About CB Resource, Inc.
CB Resource, Inc. is a risk management and planning firm committed to serving community banks and their industry. The firm demonstrates its commitment by providing actionable intelligence, which supports better performance and risk-based decisions. CB Resource, Inc. supports its clients with hands-on service and subject matter expertise, all efficiently delivered through its fully integrated platform.
Kathy Leombruno
Citizens Bank of West Virginia
+1 800-797-5790
email us here
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