Home Banking & Finance Bankwell named to list of nation’s best-performing community banks

Bankwell named to list of nation’s best-performing community banks

New Canaan bank is the lone Connecticut financial institution on S&P Global Market Intelligence's new list.

New Canaan-based Bankwell was the sole Connecticut financial institution named among 2016’s “Top 100 Best-Performing Community Banks” in a report issued by S&P Global Market Intelligence.

Chris Gruseke

S&P compiled its list of community banks ranging from $1 billion to $10 billion in assets, with a series of metrics including loan growth, net charge-offs as a percentage of average loans, efficiency ratio, pretax return on average tangible common equity and net interest margin. Bankwell, with $1.6 billion in assets and record net income of $12.4 million for 2016, has nine branches in Fairfield and New Haven Counties.

Bankwell CEO Chris Gruseke told the Business Journal that the news caught him off-guard. “To be honest, I wasn’t really paying attention to this,” he said, though he added that Bankwell’s inclusion did not strike him as a surprise. “We have one of the cleanest balance sheets in the state, with virtually no losses.”

Previous articleMooney returns to private sector as Signature Bank executive
Next articleFairfield County faulted in air quality report
Phil Hall's writing for Westfair Communications has earned multiple awards from the Connecticut Press Club and the Connecticut Society of Professional Journalists. He is a former United Nations-based reporter for Fairchild Broadcast News and the author of 10 books (including the 2020 release "Moby Dick: The Radio Play" and the upcoming "Jesus Christ Movie Star," both published by BearManor Media). He is also the host of the SoundCloud podcast "The Online Movie Show," co-host of the WAPJ-FM talk show "Nutmeg Chatter" and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill's Congress Blog, Profit Confidential, The MReport and StockNews.com. Outside of journalism, he is also a horror movie actor - usually playing the creepy villain who gets badly killed at the end of each film.

LEAVE A REPLY

Please enter your comment!
Please enter your name here