First Volunteer received recognition from SNL Financial. The bank was ranked in the Top 100 best-performing community banks in 2012 in the country (Ranked #71).
First Volunteer was the only bank in Tennessee to make the top 100 list for banks between $500 million and $5 billion in assets in the country.
“We are honored to be included in SN L’s top 100 list of best-performing community banks in the country. We believe in soundness, profitability and growth, in that order of importance and our financial accomplishments are attributable to that focus,” said First Volunteer President and CEO Patti W. Steele.
SNL ranked the best-performing community banks using six core financial performance metrics that focus on profitability, asset quality and growth for the 12-month period ended Dec. 31, 2012. The metrics used were: return on average tangible assets before tax, net charge-offs as a percentage of average loans, adjusted Texas ratio, efficiency ratio, net interest margin and loan growth. ANL measured each company’s standard deviation from the mean of each metric. The standard deviations, which are each equally weighted, were added together to calculate a performance score for each company.
SNL Financial is the premier provider of breaking news, financial data and expert analysis on business sectors critical to the global economy including banking.
First Volunteer Bank is a $890 million financial institution with 24 branch offices in eleven counties in Tennessee and Georgia. The company offers banking services, mortgages and insurance products.