West Bank is a 'Sm-All Star' two years running
Friday, September 27, 2013 11:35 AM
West Des Moines-based West Bank is one of the top-performing publicly traded banks in the nation, according to a highly regarded industry analyst. Sandler O'Neill + Partners L.P. reviews public banks with a market capitalization of $2.5 billion or less, a threshold that covers 450 financial institutions. West Bank, with a market capitalization of $210.6 million and assets of nearly $1.5 billion would come in on the low end of the scale. In all, 31 banks made Sandler O'Neill's Sm-All Stars for 2013. West Bank is the only Iowa bank on the list and one of three Midwest banks. It also made the list in 2012. The evaluation focused on growth, profitability, credit quality and capital strength. Although Sandler O'Neill does not rank the banks, its median score for each metric would place West Bank in the top half of the Sm-All Star list in most categories, including Tier 1 capital, growth of loans and deposits, and return on average assets. The list was dominated by banks in the Northeast and Mid-Atlantic states.