Vermont Business MagazineForbes magazine recently ranked Community Bank NAsixth in the nationfor financial performance in a study analyzing 10 key metrics related to growth, asset quality, capital adequacy and profitability for the nation’s 100 largest banks and thrifts. This is the seventh year running that Community Bank N.A. has ranked among the top 15 banks on the list. Community Bank N.A. is the only bank in Vermont to make the list’s top 10. The upstate New York bank acquired Vermont's Merchants Bankfor $304 million in 2017.
Forbes began ranking America’s 100 largest publicly traded banks and thrifts after the financial crisis of the late 2000s. Midsize, regional and national banks from across the United States were included in the study. Community Bank N.A. scored above all regional banks serving within the bank’s footprint, including M&T Bank, NBT Bank, PNC, People’s United Financial, Key Bank and Bank of America.
“We’re extremely proud to receive top honors from Forbes on its America’s Best Banks list,”Community Bank, N.A. New England Regional President Geoffrey Hesslinksaid.“Having joined the Community Bank N.A. team just last year through acquisition, this is the first time our Vermont branches are able to share this honor with our customers. This is something we truly value because our highest commitment is to our customers and delivering them a high level of performance and financial stability.”
The raw data for Forbes’2018 America’s Best Banks was collected by S&P Global Market Intelligence and rankings were completed exclusively by Forbes. The 10 metrics used in the rankings are based on regulatory filings throughSept. 30.For more information on the ranking methodology and to view the complete list, visit Forbes.com. For more information on Community Bank N.A., visitcbnanews.com.
About Community Bank System Inc.
Community Bank System Inc. operates more than 230 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont and Western Massachusetts through its banking subsidiary, Community Bank N.A. and has been serving its communities for more than 150 years.With more than $10 billion in assets, the DeWitt, New York-headquartered company is among the country’s 150 largest financial institutions. Community Bank, N.A. has consistently been ranked among the top 15 best banks in America by Forbes magazine for the past seven years running, and was most recently ranked sixth in 2017. In addition to a full range of retail and business banking services, the company offers comprehensive financial planning, insurance and wealth management services. Community Bank System Inc. subsidiaries/business units include OneGroup NY Inc., which provides risk management and commercial insurance, employee benefits and personal lines insurance; Community Bank Wealth Management, which provides investment advisory, personal trust and financial planning services, as well as personal, business and nonprofit portfolio design; and Benefit Plans Administrative Services Inc., which provides actuarial, retirement and VEBA/HRA plan administration, and collective investment fund, employee benefit trust and transfer agency services.
Community Bank System Inc. is listed on the New York Stock Exchange and the company’s stock trades under the symbol “CBU.” For more information about Community Bank, visitcommunitybankna.comorir.communitybanksystem.com.
Source:DeWitt, N.Y.—Community Bank System Inc 2.21.2018