Century Bank a Top Performer
The Cartersville bank is among the top 20 community banks listed by ICBA Independent Banker and measured by return of average assets and return on average equity for all of 2011.
Cartersville-based Century Bank of Georgia is one of the top 20 community banks across the country, according to ICBA Independent Banker—the award-winning magazine of the Independent Community Bankers of America—and its annual list of outstanding community bank performers.
The magazine highlights the 20 top in two standard banking industry efficiency measures, five bank asset categories and two bank tax-status categories.
Categorized as a bank with $100 to $250 million in assets, Century's return on average assets—a measure of how well it converts investment into profit—at the end of 2011 was 1.64. Its return on equity—a measure of profitability— was 15.09
“The community banks highlighted in this year’s ICBA 400 exemplify the mission of community banking by reinvesting locally in their communities and making them a better place for their customers to live and work each and every day,” Chris Lorence, ICBA executive vice president and chief marketing officer, said in a release. “We commend the community banks featured on the list for their ongoing dedication to the positive mission of our great industry.”
Officials say the rankings show the performance of community banks continues to steadily improve since the Wall Street financial crisis. Last year, Century bought out a failed Rockmart bank.