Level One Bank Recognized as Top Performing Community Bank by SNL Financial
FOR IMMEDIATE RELEASE: May 20, 2014 Contact: Don Tanner (248) 626-0006
FARMINGTON HILLS, Mich.,– SNL Financial has announced that Level One Bank is one of the Top 100 Performing Community Banks of 2013 with assets between $500 million and $5 billion.
SNL ranked the best-performing community banks using six core financial performance metrics that focus on profitability, asset quality and growth for the 12-month period ended Dec. 31, 2013. The metrics used were return on average tangible assets before tax, net charge-offs as a percentage of average loans, adjusted Texas ratio, efficiency ratio, net interest margin and loan growth. SNL measured each company's standard deviation from the mean of each metric. The standard deviations, which are equally weighted, were added together to calculate a performance score for each company.
“Level One Bank is grateful to be recognized as a top community bank in the country,” said Patrick J. Fehring, President & CEO of Level One Bank. “It is a testament to the dedication and quality of our team members, leaders, and Board of Directors.” The Bank’s growth has been remarkable over the past few years with a twenty five percent increase in 2013 alone.
SNL ranked companies at the bank holding company level if consolidated data was reported; otherwise, commercial bank subsidiary was used. Thrifts were excluded, and companies that have parents with assets above $5 billion were also excluded. Based on these criteria, 784 companies were eligible for the top 100 ranking of banks with assets between $500 million and $5 billion.
Click here to see the top 100 community banks between $500 million and $5 billion in assets for 2013.
About SNL Financial
SNL Financial is a leading provider of financial information on more than 6,500 public companies and 50,000 private companies in the business sectors critical to the global economy: Banking, Financial Services, Insurance, Real Estate, Energy, Metals & Mining, and Media & Communications. The SNL information service integrates breaking news, comprehensive data and expert analysis into an electronic database available online and updated around the clock. For more information, visit www.snl.com.
About Level One Bank
Level One Bank is a full-service, 5-Star BauerFinancial rated commercial and consumer bank committed to connecting with unparalleled service and delivering outstanding financial solutions. Owned and managed locally, Level One Bank is headquartered in Farmington Hills, Michigan with assets of approximately $630 million. It currently operates seven full-service banking centers, located throughout Oakland County and the surrounding communities. Level One’s Commercial Division provides a complete menu of products including lines of credit, term loans, leases, commercial mortgages, SBA loans, Export-Import Financing and a full suite of Treasury Management services. The Consumer Division offers personal savings and checking accounts, including free checking and competitive interest-bearing accounts such as Money Markets, IRAs, and CDs. The bank also provides a complete array of consumer loan products including residential mortgages, home equity, auto, and credit card services. Level One offers the sophistication of a big bank, the heart of a community bank, and the spirit of an entrepreneur. For more information, please visit www.levelonebank.com.