Forbes ranks Community Bank 3rd among Top 100 U.S. banks in financial performance

DeWITT — Forbes magazine recently ranked Community Bank System, Inc. (NYSE: CBU) third in the nation among the 100 largest publicly traded banks and thrifts in the U.S. based on their growth, credit quality, and profitability.

The magazine ranked 10 key metrics related to growth, asset quality, capital adequacy, and profitability. This is the eighth year in a row that Community Bank has ranked among the top 15 banks on the list. Last year, Community Bank placed sixth on the list, and in 2017, it was ranked third.

Forbes began ranking America’s 100 largest publicly traded banks and thrifts after the financial crisis in the late 2000s. Midsize, regional, and national banks from across the country were included in the study. 

S&P Global Market Intelligence provided the data, but the rankings were made solely by Forbes. The 10 metrics used in the rankings were based on regulatory filings through Sept. 30 of last year. The statistics include return on average tangible common equity, return on average assets, net interest margin, efficiency ratio, and net charge-offs as a percentage of total loans.

Here is where some other banks that do business in the 16-county Central New York region ranked on the list: M&T Bank, 47th; JPMorgan Chase, 52nd; Berkshire Hills Bancorp, 61st; Citizens Financial Group, 79th; People’s United Financial, 82nd; Bank of America, 89th; and KeyCorp, 92nd.

DeWitt–based Community Bank System has more than $10 billion in assets and over 230 branches across upstate New York, northeastern Pennsylvania, Vermont, and western Massachusetts.