S&P Global ranks SBT the #2 best-performing community banks of 2021 with assets under $3 billion.
March 25, 2022
The S&P Global released its annual rankings for best-performing community banks with assets under $3 billion, and State Bank of Texas (SBT) ranked #2 out of 4,015 banks nationwide for 2021. The full story can be found HERE.
S&P Global Market Intelligence launched the rankings more than a decade ago to assess the performance of community banks and credit unions. The division ranks institutions based on returns, growth and efficiency but places a premium on the strength and risk profile of balance sheets.
“While our name may be State Bank of Texas, we serve customers across the country,” said Sushil Patel, president of State Bank of Texas. “We are honored to be America’s #2 community bank according to S&P Global.”
Data was compiled on March 9, 2022. S&P Global Market Intelligence used six metrics to identity top-performing U.S. community banks under $3 billion in asset size, adjusted to exclude Paycheck Protection Program loans, by applying weights to each metric. The mean for each metric was identical across the data set, and standard deviations from these means were calculated for each metric for each institution and aggregated to determine a
relative performance score. Scores for each metric were also capped to help normalize the data.
“Banks and credit unions support our country’s economic growth and stability which has been critical over the last year. Small business continues to drive the American economy and community banks and credit unions make up the engine that drives small business. We’re delighted to see the success of these regional banks, community banks and credit unions as they continue to be well-utilized in their markets during economic uncertainty and we’re proud to recognize these top performers in our annual rankings,” said Jimmy Pittenger, Senior Director of Financial Institutions at S&P Global Market Intelligence.
S&P Global Market Intelligence understands the importance of accurate, deep and insightful information. Its team of experts delivers unrivaled insights and leading data and technology solutions, partnering with customers to expand their perspective, operate with confidence, and make decisions with conviction. S&P Global Market Intelligence is a division of S&P Global (NYSE: SPGI). S&P Global is the world’s foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets.
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.