Esquire Financial Holdings Repeats #1 Ranking In 2020 Raymond James Community Bankers Cup

Rhea-AI Summary

Esquire Financial Holdings, Inc. (NASDAQ: ESQ) has been recognized as the top-performing community bank in the U.S., achieving first place in the 2020 Raymond James Community Bankers Cup. This marks a repeat of their first-place ranking from 2019 and an improvement from third place in 2018. The evaluation considered 241 banks based on metrics such as profitability and efficiency. President Andrew C. Sagliocca attributed this success to the team's dedication and client-focused approach. Esquire Bank specializes in financial services for the legal industry and small businesses.

Positive

• Ranked first in the 2020 Raymond James Community Bankers Cup, repeating the 2019 success.
• Recognized for superior performance based on profitability and operational efficiency metrics.

Negative

• None.

JERICHO, N.Y., April 22, 2021 /PRNewswire/ -- Esquire Financial Holdings, Inc. (NASDAQ: ESQ) (the "Company"), the holding company for Esquire Bank, National Association ("Esquire Bank"), today announced that the Company was named the top performing community bank in the United States, ranking first in the 2020 Raymond James Community Bankers Cup.  Esquire Financial Holdings ranked first in the 2019 Raymond James Community Bankers Cup and third in the 2018 rankings.

"We are extremely proud to maintain our position atop the list of community banks in the 2020 Raymond James Community Bankers Cup," stated Andrew C. Sagliocca, President and Chief Executive Officer. "To repeat our first-place ranking, especially in a year of challenges and uncertainty, is a testament to our client-centric focus and forward-thinking business model.  The entire Esquire team went the extra-mile for our clients in 2020 and their hard work and commitment is truly gratifying."

Raymond James recognizes the top 10% of community banks across the United States based on various profitability, operational efficiency, and balance sheet metrics. The pool of banks considered for recognition includes all exchange-traded domestic banks, excluding mutual holding companies and potential acquisition targets, with assets between $500 million and $10 billion as of December 31, 2020.

Of the 241 community banks considered for the 2020 Community Bankers Cup, the top 10% demonstrated superior performance on a relative basis in one or more of the following measurements of financial performance and stability: 1) nonperforming assets to loans and real estate owned, 2) five-year average core deposit percentage, 3) net interest margin, 4) efficiency ratio, 5) return on average assets, and 6) return on average tangible common equity.

About Esquire Financial Holdings, Inc.

Esquire Financial Holdings, Inc. is a financial holding company headquartered in Jericho, New York, with one branch office in Jericho, New York and an administrative office in Boca Raton, Florida. Its wholly-owned subsidiary, Esquire Bank, National Association, is a full service commercial bank dedicated to serving the financial needs of the legal industry and small businesses nationally, as well as commercial and retail customers in the New York metropolitan area. The bank offers tailored products and solutions to the legal community and their clients as well as dynamic and flexible payment processing solutions to small business owners. For more information, visit www.esquirebank.com.

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SOURCE Esquire Financial Holdings, Inc.

FAQ

What is Esquire Financial Holdings' ranking in the 2020 Raymond James Community Bankers Cup?

Esquire Financial Holdings ranked first in the 2020 Raymond James Community Bankers Cup.

How many community banks were considered for the 2020 Community Bankers Cup?

A total of 241 community banks were considered for the 2020 Community Bankers Cup.

What assets size were the banks considered for the Raymond James Community Bankers Cup?

The banks considered had assets between $500 million and $10 billion as of December 31, 2020.

Who is the CEO of Esquire Financial Holdings?

Andrew C. Sagliocca is the President and CEO of Esquire Financial Holdings.

What factors were used to evaluate the community banks for the Cup?

Factors included nonperforming assets, core deposit percentage, net interest margin, efficiency ratio, and return on assets.