Premier Ranked Among Top Best-Performing Community Banks
DEFIANCE, Ohio – Premier Financial Corp., holding company for Premier Bank and First Insurance Group, has been recognized by S&P Global Market Intelligence on its list of the best-performing large U.S. community banks of 2022.
Premier Financial Corp. was ranked the highest performing community bank in Ohio and No. 28 among U.S. community banks in the $3 billion to $10 billion asset size.
“We are proud that Premier was able to successfully navigate the effects of interest rate volatility influenced by the Federal Reserve’s actions taken to address inflation concerns,” said Gary Small, president and CEO. “The hard work and dedication exhibited by the Premier team helped us to strike the right balance of both near-term and long-term objectives, and remain laser focused on creating long-term franchise value. It’s an honor to be recognized as the highest performing community bank in Ohio, and it illustrates our ongoing commitment to top-tier performance.”
To compile rankings, S&P Global Market Intelligence calculated scores for each company based on seven metrics: pretax return on tangible common equity; efficiency ratio; cost of funds; five-year average operating revenue growth; five-year average net charge-offs to average loans and leases ratio; nonperforming assets and loans 90 days or more past due as a percentage of total assets; and leverage ratio.
“Our Premier team is the driving force behind our success every day. Their hard work and dedication allows us to continue to be the banking partner of choice for our clients and a reliable source of stability in the markets we serve,” Small said. “As we look to 2023 and beyond, we will continue to focus on strategic growth, operational excellence and providing our clients the best in community banking.”
Published by The Business Journal, Youngstown, Ohio.