Citizens Bank of West Virginia has moved to the 64th rank in American Banker magazine’s Top 200 Publicly Traded Community Banks and Thrifts in the nation. In its May 2021 issue, American Banker placed Citizens on its prestigious nationwide list, ranking Citizens Bank the highest in West Virginia and the only bank headquartered in this region of the state to make the list. In 2020, the bank made the Top 200 List, ranking 150th.
“We were very excited to have received the news we moved up significantly in the rankings named in American Banker’s top-performing publicly traded community banks,” commented Nathaniel S. Bonnell, President & CEO.
“In spite of the economic impact related to COVID-19, the team at Citizens has worked very hard over the last year to deliver quality products and services to assist clients through these unique times, while continuing to provide solid value to our shareholders. To be ranked among the best performing U.S. community banks in these challenging times is a testament to the performance and dedication of our staff and leadership.”
The study examined 511 well-capitalized publicly traded banks with $2 billion or less in assets. Rankings are determined by each institution’s return on average equity (ROAE), a measure of profitability widely used by investors to analyze business performance. Only three other West Virginia institutions made the list.
Citizens Bank of West Virginia, with assets of $340 million, is a community bank headquartered in Elkins, West Virginia and operates branch offices in Parsons, Beverly, Snowshoe and Buckhannon. Citizens provides integrated financial services including retail and commercial banking, wealth management, and mortgage services in North Central West Virginia. The bank is a wholly owned subsidiary of Citizens Financial Corp. (OTC: CIWV). For more information, visit us online at citizenswv.com.