Independent Banker ranks SBT #3 community bank with assets more than $1 billion
May 18, 2022
Independent Banker has released is annual listing of America’s top-performing community banks. For 2021 performance, State Bank of Texas (SBT) ranked #3 on the “Best of the Best” list for banks with assets over $1 billion. The full story can be found HERE.
“It is quite an honor to be make Independent Banker’s Best of the Best list,” says Sushil Patel, president of State Bank of Texas. “For SBT, is shows we continue to deliver for our greatest asset – our customers.”
“Whether it’s products and services, technology strategies or employee benefits, independent community banks decide on their own terms what’s best for their business and their customers, says Molly Bennet, executive editor of Independent Banker.
Independent Banker is the primary source of community banking news, trends, insights and analysis through an award-winning magazine published monthly by the Independent Community Bankers of America (ICBA).
ICBA compiled this year’s rankings with the aim of recognizing community banks that are consistent high performers. Using FDIC data, we took into account pre-tax return-on-assets (ROA) figures from the past three years, with the most recent year weighted at 3x, second most recent year at 2x and third most recent year at 1x. We then divided the community banks into three broad segments based on asset size and ranked each segment based on our three-year weighted average ROA. A bank must have a rating of C or higher by Kroll Bond Ratings (formerly LACE) to be considered for ranking.
The Independent Community Bankers of America is the nation’s voice for community banks with its mission to create and promote an environment where community banks flourish. CBA is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education, and high-quality products and services.
State Bank of Texas was founded in 1987 by hotelier Chan Patel and continues to be owned and operated by the Patel family, with Chan Patel (father) serving as CEO, Sushil Patel (son) as President, and Rajan Patel (son) as Chief Lending Officer and EVP. As the largest Indian-American-owned bank in the U.S., the bank focuses on lending within the hospitality industry.