Parent company of Citywide Banks named as one of Forbes Best Bank in America
Forbes used data collected by SNL Financial through the third quarter of 2019 on the country’s largest publicly traded banks and thrifts
Citywide Banks through its parent company, Heartland Financial USA, has been named a “Forbes Best Bank 2020.” In its annual review of the largest publicly traded banks and thrifts, Forbes ranked Heartland No. 40 among a nationwide group of 100 banking organizations with assets ranging from $9 billion to over $2 trillion.
“We are proud to be named among the Best Banks in America for 2020,” says Joanne Sherwood, President and CEO at Citywide Banks. “As a community bank, what sets us apart is our strong commitment to our customers, combined with access to ‘big-bank’ products and services as part of Heartland.”
“The Forbes ranking underscores the benefits of our unique structure — the strength and capabilities of a big bank, combined with the personal touch and local decision-making of a community bank,” Sherwood says.
To compile the rankings, Forbes used data collected by SNL Financial through the third quarter of 2019 on the country’s largest publicly traded banks and thrifts. The data covered ten metrics of financial health: return on average equity, net interest margin, nonperforming loans (NPLs) as a percentage of loans, nonperforming assets as percentage of assets, reserves as a percentage of NPLs, two capital ratios (Tier 1 and risk-based) and leverage ratio. Forbes generated its ranking based on an average of the individual ranks of each metric.
Citywide Banks, is a subsidiary of Heartland Financial USA. Citywide Banks is a state-chartered, community-invested bank with assets of approximately $2.3 billion and banking centers located across Colorado's Front Range, Foothills and Mountain communities. Citywide Banks is a member FDIC and an Equal Housing Lender.