Cortland Bancorp Again Listed by American Banker Magazine as One of Top 200 Publicly Traded Community Banks and Thrifts

Rhea-AI Summary

Cortland Bancorp (NASDAQ: CLDB) has been recognized for the third consecutive year in American Banker magazine's list of Top 200 Publicly Traded Community Banks and Thrifts. In May 2021, Cortland ranked 86th, improving from 105th in 2020 and 134th in 2019. This ranking is based on a three-year average return on equity (ROE) as of the previous year. The bank holds assets exceeding $700 million and operates 13 banking centers. President James M. Gasior emphasized that this acknowledgment reflects the bank's commitment to enhancing shareholder value.

Positive

• Ranked 86th in American Banker's Top 200 Community Banks, improving from 105th in 2020.
• Recognition reflects strong financial stability and ongoing efforts to enhance shareholder value.
• Total assets exceed $700 million, indicating solid financial positioning.

Negative

• None.

Local bank ranked #86 in 2021, up from #105 in 2020

CORTLAND, Ohio, May 27, 2021 (GLOBE NEWSWIRE) -- Cortland Bancorp. (NASDAQ: CLDB), the bank holding company of The Cortland Savings and Banking Company, today announced that, for the third straight year, it was again named to American Banker magazine’s Top 200 Publicly Traded Community Banks and Thrifts. In its May 2021 issue, American Banker ranked Cortland Bancorp 86^th on the list of top performing publicly traded community banks. This continues the Bank’s upward growth trajectory after ranking as #105 on last year’s list and #134 in 2019. The rankings are based on three-year average return on equity (ROE) as of the end of the previous year.

“It is always a great honor to be recognized by American Banker,” said James M. Gasior, President and Chief Executive Officer. “This type of third-party credibility reflects our Bank’s ongoing efforts to enhance shareholder value and attests to our strong reputation for financial stability, growth and community service.”

Cortland Bancorp, headquartered in Cortland, Ohio, is a bank holding company with total assets in excess of $700 million. The bank operates 13 full-service banking centers and an LPO office in Fairlawn, Ohio. Additional information is available at www.cortlandbank.com.

Contact:
James M Gasior
President and Chief Executive Officer
330-637-8040 Ext. 1111
jgasior@cortlandbank.com

FAQ

What was Cortland Bancorp's rank in American Banker's Top 200 Community Banks in 2021?

Cortland Bancorp was ranked 86th in 2021.

How did Cortland Bancorp's ranking change from 2020?

Cortland Bancorp improved its ranking from 105th in 2020 to 86th in 2021.

What criteria are used for ranking community banks by American Banker?

The rankings are based on the three-year average return on equity (ROE) as of the end of the previous year.

What are the total assets of Cortland Bancorp?

Cortland Bancorp has total assets exceeding $700 million.

How many banking centers does Cortland Bancorp operate?

Cortland Bancorp operates 13 full-service banking centers.