06/04/2018: HNB Rated as One of the Top 100 Performing Banks in the Country
HNB RATED AS ONE OF THE TOP 100 PERFORMING BANKS IN THE COUNTRY
Only PA Bank on the List by Alex Sheshunoff’s The Partnership for Banking Excellence
Honesdale, PA – David Raven, President and CEO of The Honesdale National Bank, received a congratulatory letter informing him that HNB was the only Pennsylvania bank with assets of $500 Million to $1 Billion, named as one of the 100 highest performing community banks in the country.
According to the performance criteria evaluated by The Partnership for Banking Excellence, all banks were evaluated for earnings performance using Net Income before Taxes as compared to their Average Assets. This ratio was calculated for the most recent 17 years (2001 to 2017) of this century and was further evaluated by three economic cycles within that timeframe. They further evaluated each institution using the bank’s Loan to Deposit ratios, Net Interest Margin, Non-Interest Income, Efficiency Ratio and Leverage ratio. The results of their analysis placed HNB at #69 among the “Best of the Best”.
Mr. Raven stated, “We truly appreciate this recognition and see it as validation of the way our bank has continued to do business. It is supported by the ranking of Bauer Associates, Bank Rate and other bank rating agencies as to the continued enviable performance which has distinguished us among our peers. The HNB Board of Directors is very appreciative of our clients and shareholders, and the support they have exhibited throughout the years. HNB’s performance, especially in what has been considered to be very challenging times, and the solid foundation we continue to build upon, is a testament to our focus and adherence to the core principles and values established by our founders over 182 years ago.”
The Honesdale National Bank is the oldest independent community bank chartered in Pennsylvania, serving the northeast with eleven full service offices in Wayne, Pike, Lackawanna, Susquehanna and Luzerne Counties, a Trust and Investment Division headquartered in Honesdale and the HNB Mortgage Center in Wilkes-Barre.