Minerva, Ohio–American Banker magazine has listed Consumers Bancorp, Inc., the Minerva, Ohio based single-bank holding company of Consumers National Bank, among the Top 200 Community Banks and Thrifts in the U.S. for the sixth time. Consumers ranked 167th nationally and 13th among the banks in Ohio that made the annual Top 200 list published in the magazine’s May 2020 issue.
The national ranking is based on each bank’s return on average equity (ROAE) over the past three years (calendar years 2017, 2018 and 2019). ROAE is annualized net income divided by average equity. The list ranked performance of publically traded banks with less than $2.0 billion in assets. At December 31, 2019, Consumers Bancorp reported assets of $553 million.
The median 3-year average ROAE for all 511 institutions that fit the ranking criteria was 8.6 percent. Consumers posted an average ROAE of 9.7 percent over the three-year period.
“Being included in the annual ranking requires a consistent focus on our customers and communities from everyone in the organization,” said Ralph J. Lober II, President and CEO of Consumers National Bank.
“The Top 200 ranking considers each institution’s last three years of financial results. Our three-year average ROAE is strong considering the 2019 merger expenses related to the Peoples National Bank of Mount Pleasant acquisition. Everyone at Consumers National Bank is committed to making a difference in the communities we serve. If we do that well, we will continue to be included in the Top 200, which is an industry benchmark for high-performing community banks,” said Lober.
Consumers National Bank is an independent community bank that provides a comprehensive line of banking and other investment services to business and personal customers through its main office in Minerva, and branches in Adena, Alliance, Bergholz, Brewster, Canton, Carrollton, Dillonvale, Fairlawn, East Canton, Hanoverton, Hartville, Lisbon, Louisville, Malvern, Mount Pleasant, Salem, Waynesburg, and a Business Lending office in Wooster, Ohio. More information about Consumers National Bank can be accessed online at www.ConsumersBank.com. Member FDIC. Equal Housing Lender.
