GRAND RAPIDS — Northpointe Bank earned the number eight (8) spot in the nation for best performing community banks between $3 billion and $10 billion in assets, according to S&P Global Market Intelligence rankings for 2020.
This top honor comes in addition to a record-breaking year, and the creation of more than 261 new jobs in the past 12 months. Northpointe officials attribured the to “an amazing team of employees and leadership all working toward the shared goal of offering the best value to clients across the nation.”
“We are very pleased to receive this accolade,” said Chuck Williams, Northpointe Bank President and CEO. “I want to emphasize that people are at the center of everything we do. We build trust and lifelong relationships with both our employees and the customers we serve.”
The S&P Global Market Intelligence rankings are derived from calculating scores based on six important metrics: pretax return on tangible common equity, efficiency ratio, net interest margin, operating revenue growth, leverage ratio, and nonperforming assets and loan 90 days or more past due as a percentage of total assets, net of Paycheck Protection Program loans.
Based on the above, 168 top-tier banks were eligible for ranking.