S&P Global Market Intelligence Announces Rankings of Best-Performing U.S. Credit Unions, Community and Public Banks and Community Banks by Region for 2024

Rhea-AI Summary

S&P Global Market Intelligence has released its annual rankings of top-performing financial institutions for 2024. The rankings evaluate banks and credit unions based on returns, growth, funding, and balance sheet strength.

Key winners include:

• Axos Financial Inc. (Best U.S. Public Bank >$10B assets) - achieved top 20 scores across all seven metrics
• Olney Bancshares of Texas ($3B-$10B assets) - excelled in six of eight metrics
• FNB South (<$3B assets) - achieved 2.69% return on average assets, surpassing 1.08% median
• WCLA CU (Best Credit Union) - topped with $64,336 shares-and-deposits per member

Regional winners include American Interstate Bank (Midwest), NorthEast Community Bank (Northeast), FNB South (Southeast), First State Bank of Odem (South Central), and Security State Bank (West).

Positive

• Axos Financial achieved top 20 scores in all seven ranking metrics
• FNB South demonstrated strong performance with 2.69% ROAA vs 1.08% median
• WCLA CU showed industry-leading efficiency with $64,336 shares-and-deposits per member

Negative

• None.

NEW YORK, March 18, 2025 /PRNewswire/ -- S&P Global Market Intelligence today released its annual rankings for 2024's best-performing community banks with assets between $3 billion and $10 billion, community banks with assets below $3 billion, credit unions, U.S. public banks with more than $10 billion in total assets and community banks by region for the Northeast, South Central, Southeast, West and Midwest.

S&P Global Market Intelligence ranks institutions based on returns, growth and funding but places a premium on the strength and risk profile of balance sheets. The rankings were launched in 2011 to assess the performance of banks and credit unions.

"As banks and credit unions digest an uncertain and changing macroeconomic landscape, we are delighted to see them remain focused on serving their local markets," said Nathan Stovall, director of financial institutions research at S&P Global Market Intelligence. "During these volatile times, quality data and insights continue to be vital, and we are committed to providing transparency through these rankings to help the market make informed decisions."

National Rankings:

• Best Performing U.S. Public Bank with more than $10 billion in assets: Axos Financial Inc., formerly known as BofI Holding Inc. Axos Financial was the only bank in the analysis to achieve a top 20 score for all seven ranking metrics and the lone bank with top 10 scores in five of the metrics.
• Best Performing U.S. Community Bank with between $3 billion and $10 billion in assets: Olney Bancshares of Texas Inc. With $4.53 billion in total assets as of Dec. 31, 2024, Olney outshined its peers in six of the eight metrics analyzed. The bank ranked number 17 in S&P Global Market Intelligence's 2023 rankings.
• Best Performing U.S. Community Bank with under $3 billion in assets: FNB South. The bank beat the top 100 median in the ranking metrics for credit quality, capital ratio and deposit growth. FNB South's return on average assets before taxes and extraordinary item adjustments was 2.69%, well above the overall median of 1.08%.
• Best Performing Credit Union: WCLA CU. The credit union was this year's top performing credit union, rising from fourth place in the 2023 rankings. The credit union's approximately $64,336 shares-and-deposits per member ratio was the highest among the top 100 credit unions in 2024.

Regional Rankings:

• Best Performing Midwest Bank with under $10 billion in assets: American Interstate Bank. The bank received the highest overall performance score when evaluated against eight performance metrics, having performed better in six metrics when compared to the median of the top 50 community banks in the Midwest and seven metrics versus the median of all banks eligible for ranking.
• Best Performing Northeast Bank with under $10 billion in assets: NorthEast Community Bank. The bank had an equal or better value than the median of the top 50 community banks in the region in seven of the eight metrics analyzed.
• Best Performing Southeast Bank with under $10 billion in assets: FNB South. The bank outperformed the top 50 median in the analysis in seven of the eight metrics and performed better in all eight metrics compared to the median for all eligible banks. FNB South was also ranked as the Best Performing U.S. Community Bank with under $3 billion in assets in the 2024 national rankings.
• Best Performing South Central Bank with under $10 billion in assets: First State Bank of Odem. First State Bank of Odem received the highest overall performance score when evaluated against eight performance metrics. The bank performed better in six metrics compared to the median of the top 50 community banks in the South Central as well as seven metrics versus the median for all banks eligible for ranking.
• Best Performing West Bank with under $10 billion in assets: Security State Bank. The bank outdid the top 50 banks' median rates in six of eight analyzed metrics including pretax return on average assets (ROAA), net interest margin (NIM) and efficiency ratio. Security State Bank was also ranked as the Best Performing West Bank with under $10 billion in assets in 2023.

To access the full list of 2024 Top Bank and Credit Union Rankings – National, click here. To access the full list of 2024 Top Community Banks by Region, click here.

About S&P Global Market Intelligence
At S&P Global Market Intelligence, we understand the importance of accurate, deep and insightful information. Our 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. With every one of our offerings, we help many of the world's leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information, visit www.spglobal.com/marketintelligence.

Media Contact:

Erina Aoyama
S&P Global Market Intelligence
P. +1 917 755 7943
E. erina.aoyama@spglobal.com or press.mi@spsglobal.com 

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SOURCE S&P Global Market Intelligence

FAQ

What were S&P Global's (SPGI) top-performing banks in different asset categories for 2024?

Axos Financial (>$10B), Olney Bancshares of Texas ($3B-$10B), and FNB South (<$3B) were the top performers in their respective asset categories.

How did FNB South perform in S&P Global's (SPGI) 2024 community bank rankings?

FNB South achieved a 2.69% return on average assets, won best-performing bank under $3B assets, and topped the Southeast regional rankings.

What metrics did S&P Global (SPGI) use to rank financial institutions in 2024?

Rankings were based on returns, growth, funding, and balance sheet strength and risk profile.

Which credit union topped S&P Global's (SPGI) 2024 rankings and why?

WCLA CU ranked first, featuring the highest shares-and-deposits per member ratio ($64,336) among top 100 credit unions.

Who were the regional winners in S&P Global's (SPGI) 2024 community bank rankings?

Winners were American Interstate Bank (Midwest), NorthEast Community Bank (Northeast), FNB South (Southeast), First State Bank of Odem (South Central), and Security State Bank (West).