American National Ranked One of Most Profitable 200 Community Banks in Nation
American Banker Magazine ranks publicly traded banks with less than $2 billion of assets
For more information, contact:
Jeffrey V. Haley
President & Chief Executive Officer
American National Bankshares Inc.
FOR IMMEDIATE RELEASE: May 12, 2014
DANVILLE, VA – American National Bankshares Inc. (American National – NASDAQ “AMNB”), the holding company of American National Bank and Trust Company, has been ranked as one of the most profitable 200 community banks in the nation by American Banker Magazine. Each year, this publication recognizes outstanding publicly traded institutions with less than $2 billion of assets.
“I want to thank our employees, customers and shareholders for their loyalty and support which have resulted in more than a century of strength, a fortress balance sheet and robust capital,” said Jeffrey V. Haley, President & Chief Executive Officer of American National. “I am proud of our accomplishments, and I look forward to continuing our legacy as a bank that strives to provide quality financial services with exceptional customer service.”
According to the May issue of American Banker, a total of 851 financial institutions fit the publication’s criteria for the ranking. They recognized the top 200 performers, which included American National.
“The top performers listed here are doing significantly better as a group than the 851 as a whole,” reported Bonnie McGeer in the American Banker article. “They posted a median ROE of 10.44 percent for 2013 (versus 5.70 percent for the entire peer group) and a median ROA [return on assets] of 1.05 percent (versus 0.67 percent).”
The criteria for the ranking included: a three-year average return on equity (ROE) of 7.8 percent or higher for the three years ending Dec. 31, 2011, 2012 and 2013; a leverage ratio of 5 percent or greater; a Tier 1 risk-based capital ratio of 6 percent or greater; and a total risk-based capital ratio of 10 percent or greater as of Dec. 31, 2013. Virginia, the state where American National is headquartered, was highlighted as one of the standout states—with 15 banks in the top 200 ranking. To learn more about the ranking, visit www.americanbanker.com/magazine.
About American National
American National Bankshares Inc. is a multi-state bank holding company with total assets of approximately $1.3 billion. Headquartered in Danville, Va., American National is the parent company of American National Bank and Trust Company. American National Bank is a community bank serving southern and central Virginia and north central North Carolina with 25 banking offices and two loan production offices. American National Bank and Trust Company also manages an additional $625 million of trust, investment and brokerage assets in its Trust and Investment Services Division. Additional information about the company and the bank is available on the bank's website at amnb.com.
Shares of American National are traded on the NASDAQ Global Select Market under the symbol "AMNB."
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