Community Development Bank a top performer
Community Development Bank is ranked 15th among its peers nationwide, according to a comparison study published recently by The ABA Banking Journal.
"It is an honor to be listed in this publication among other top-performing community banks; this is a big milestone for a small institution and signifies the first time we have ranked in ABA's Top 100," Bank President Kevin Shipley said.
The article in the June 2011 issue said many of those on this year's list of top-performing banks took advantage of current market trends.
Key strategies included expanding through acquisition of failed banks as well as targeted commercial lending in successful market sectors, such as agriculture and small business.
"We really fit the mold," Branch Manager Justin Cronen said.
"We acquired a bank in Hancock, Minn., which, in turn, expanded our market for agriculture and small business lending. We have acquired great customers in addition to those we already serve in our traditional market on the White Earth Reservation and surrounding communities."
Community banks were grouped into four different categories and ranked according to their Return on Average Equity for 2010, based on data from Highline Financial, LLC.
The ABA article lists total bank assets--$60,992,000--as well as other ratios and performance measures.
More complete information is available at www.ababj.com.