Progress ranked as 64th top-performing bank in U.S.

Published 4:00 pm Sunday, April 1, 2018

Progress Bank recently announced it was named the 64th top-performing bank in the United States, with total assets between $1 and $10 billion by SNL/S&P Global Market Intelligence, based on financial results for the year ending Dec. 31, 2017.

Only three community banks from Alabama were included in the $1-$10 billion ranking.

Progress Bank has offices in Huntsville, Jones Valley, Decatur, Florence, Madison, Birmingham, Vestavia, Destin and Inlet Beach.

“We are pleased to be recognized among the top-rated banks in the country by SNL/S&P Global Market Intelligence,” David Nast, president and chief executive officer of Progress Bank, said in a statement. “We have a group of high-performing associates who run our company the right way and take great care of our clients.”

SNL/S&P Global Market Intelligence’s rankings are based on six metrics: pretax return on average tangible common equity, net charge-offs as a percentage of average loans, efficiency ratio, adjusted Texas ratio, net interest margin on a fully taxable equivalent basis, and loan growth. More than 530 companies were eligible for the SNL/S&P Global Market Intelligence rankings.