Riverside Community Bank named a ‘Forbes Best Bank 2013’
Online Staff Report
Riverside Community Bank, through its parent company, Heartland Financial USA, Inc., has been named a “Forbes Best Bank 2013.”
In its annual review of the largest publicly-traded banks and thrifts, Forbes magazine (the same magazine that ranked Rockord third on its list of “America’s Most Miserable Cities”) ranked Heartland 39th among a nationwide group of 100 leading banking organizations with assets ranging from $4.5 billion to more than $2 trillion.
“We are proud to be named among the best banks in America for 2013,” said Steve Ward, president and CEO of Riverside Community Bank. “As community banks, what sets us apart is our strong commitment to our customers, our community and our employees. The Forbes ranking underscores the benefits of our unique structure — the strength and capabilities of a big bank, combined with the personal touch and local decision-making of a community bank.”
To compile the rankings, Forbes used data collected by SNL Financial through the third quarter of 2012 on the country’s largest publicly-traded banks and thrifts. The data covered eight metrics of financial health: return on average equity; net interest margin; nonperforming loans (NPLs) as a percentage of loans; nonperforming assets as percentage of assets; reserves as a percentage of NPLs; two capital ratios (Tier 1 and risk-based); and leverage ratio. Forbes generated its ranking based on an average of the individual ranks of each metric.
“We attribute our strong performance to our loyal and satisfied customers, our disciplined financial management and our employees,” said Ward.
In 2012, Heartland net income increased by 76 percent over 2011, with earnings per share growing by 122 percent.
Riverside Community Bank is a state-chartered bank with more than $450 million in assets with four banking centers and an extensive ATM network, many in Road Ranger convenience stores throughout the northern Illinois area. The bank offers an array of credit services, wealth management, investment services and deposit accounts, all with a focus on personal service.
Visit www.riversidecommunity.com or call (815) 637- 7000.
Posted March 6, 2013
Print This Article