Citizens Business Bank Again Ranks ‘Best’ In America
The Forbes ranking includes the nation's 100 largest publicly traded banks and thrifts.
It marks the fifth time the bank made Forbes’ list over the past six years, and the third time it topped the rankings.
In establishing its “America’s Best Banks” listing, Forbes looked at 10 metrics related to credit quality, growth and profitability for all 100 of the largest publicly-traded banks in the nation.
The listing shows CVB Financial had $14.4 billion in assets as of Dec. 31 and a 15% return on equity, which measures the rate of return generated on money shareholders have invested in the bank.
CVB posted less than 1% in nonperforming assets for 2020 and the company had an efficiency ratio of 39%. That measures a bank’s ability to leverage its assets to generate income.
The efficiency ratio includes such factors as the time it takes to collect cash from customers and the amount of time it takes to convert inventory to cash. It’s an important metric because an improvement in efficiency usually translates to improved profitability.
CVB ranked well above other much larger banks, including Northern Trust (24), Capital One (44), JPMorgan Chase (51), PNC Financial Services (58), Citigroup (65), Bank of America (74) and US Bancorp (84). Read More