Centric Bank, the wholly owned subsidiary of Centric Financial Corporation (OTC: CFCX), has been recognized as one of American Banker’s Top 200 Community Banks in the U.S. for the second consecutive year, as well as one of Independent Banker’s Top Lenders for 2020.
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American Banker‘s annual ranking is a list of publicly traded banks and thrifts with less than $2 billion in assets. The rankings are based on Return on Average Equity (ROAE) over a three-year period. Centric Bank finished in the #92 position, climbing from #106 in the 2019 ranking.
Capturing an additional national recognition, Centric Bank ranked #14 among commercial lenders in the $500 million to $900 million category of Independent Banker‘s 2020 Top Lenders. The annual Top Lenders list is based on the strength of competitive banking services and operational efficiencies using 2019 FDIC data. Scores were determined by combining the average of the bank’s percentile rank for lending concentration and for loan growth over the past year in each lending category and asset size and adjusted for loan charge-offs at certain percentile thresholds. The listing showcases their commitment, ingenuity, and skill in adapting to market dynamics and evolving customer needs. Independent Banker is the monthly magazine of the Independent Community Bankers of America (ICBA).
“Centric Bank is honored to be ranked by both American Banker and Independent Banker on these lists of exceptional community banks,” says Patricia (Patti) A. Husic, President and CEO. “We bring every resource and financing tool to make sure small businesses thrive, especially minority-owned, women-owned, and veteran-owned small businesses in our service area. Our team prides itself on making our customers’ dreams and big ideas a reality with access to capital. Whether it’s helping a physician acquire a practice, walking a bakery owner through buying a building to support an expansion, or putting together a new business plan with an entrepreneur, Centric Bank is committed to meeting your goals and securing the financing you need to succeed.”
“With COVID-19 at the forefront of everyone’s mind, this year in particular our focus was on being a lifeline to businesses keeping their doors open and sustaining their employees through the SBA’s Paycheck Protection Program,” Husic adds. “We were privileged to fund more than 2,000 PPP loans totaling more than $215 million to existing customers and new customers.”
