Michael R. Tuttle, President and CEO of Merchants Bank, today announced that Merchants Bancshares, Inc, the parent company of Merchants Bank, was ranked 12th among the “Top 200 Community Banks,” as published in the June 2010 issue of US Banker Magazine. US Banker Magazine publishes an annual ranking of community banks based on their three-year average return on equity. These top 200 are selected from the over 7,000 FDIC-insured banks in the category of under $2 billion in total assets.
“This ranking is a reflection of the great work our people do every day. We are especially proud that this ranking is based upon a three-year average return and therefore demonstrates our sustained commitment over time to strong financial performance,” commented Mr. Tuttle.
Vermont Matters. Merchants Bank strives to fulfill its role as the state’s leading independent community bank through a wide range of initiatives. The bank supports organizations throughout Vermont in addressing essential needs, sustaining community programs, providing small business and job start capital, funding financial literacy education and delivering enrichment through local sports activities.
Merchants Bank was established in 1849 in Burlington, Vermont. Its continuing mission is to provide Vermonters with a statewide community bank that combines a strong technology platform with a genuine appreciation for local markets. Merchants Bank delivers this commitment through a branch-based system that includes: 34 community bank offices and 42 ATMs throughout Vermont; local branch presidents and personal bankers dedicated to high-quality customer service; free online banking, phone banking, and electronic bill payment services; high-value depositing programs that feature Free Checking for Life®, Cash Rewards Checking, Rewards Checking for Business, business cash management, money market accounts, health savings accounts, certificates of deposit, Flexible CD, IRAs, and overdraft assurance; feature-rich loan programs including mortgages, home equity credit, vehicle loans, personal and small business loans and lines of credit; and merchant card processing. Merchants Bank offers a strong set of commercial and government banking solutions, delivered by experienced banking officers in markets throughout the state; these teams provide customized financing for medium-to-large companies, non-profits, cities, towns and school districts. Merchants Trust Company, a division of Merchants Bank, provides investment management, financial planning and trustee services. Please visit www.mbvt.com for access to Merchants Bank information, programs and services. Merchants’ stock is traded on the NASDAQ National Market system under the symbol MBVT. Member FDIC. Equal Housing Lender.
Source: Merchants. 7.1.2010
Merchants ranks 12th in nationwide survey of community banks
Submitted by tim
on