SFC Bank’s Parent Company, QCR Holdings, Inc., Named Top 50 Community Bank by S&P Global Market Intelligence
QCR Holdings, Inc., the parent company of SFC Bank, was recently named one of the Top 50 Best-Performing Community Banks of 2021 with assets between $3B and $10B by S&P Global Market Intelligence for the second consecutive year.
“SFC Bank is proud to be a part of QCR Holdings. It’s humbling to be recognized as one of the top performing banks while also improving our position for the year,” said SFC Bank President and CEO Monte McNew. “We pride ourselves on building strong relationships with our clients and our communities. I believe our performance is a reflection of our team’s dedication to those values.”
S&P Global Market Intelligence’s ranking is based on measurements of financial and operating strength for community banks with assets between $3 billion and $10 billion. To compile this ranking, S&P Global Market Intelligence calculated scores for each company based on six metrics: pretax return on tangible common equity; efficiency ratio; operating revenue growth; net charge-offs to average loans and leases net of Paycheck Protection Program loans ratio; nonperforming assets and loans 90 days or more past due as a percentage of total assets, net of PPP loans; and leverage ratio. Each company's standard deviation from the industry mean was calculated for every ranking metric, weighted, then combined to derive a performance score. To help normalize the data and mitigate the impact of outliers, caps and floors were applied for each metric.
QCR Holdings, Inc. is a multi-bank holding company which includes Quad City Bank & Trust in the Quad Cities, Cedar Rapids Bank & Trust in Cedar Rapids, Iowa, Community State Bank, based in Ankeny, Iowa, SFC Bank, based in Springfield, Missouri, Community Bank & Trust, a division of Cedar Rapids Bank & Trust Company, located in the Cedar Falls/Waterloo, Iowa area.