First Bank & Trust Company Ranked Top in Virginia and the Nation

ABINGDON, Va., Aug. 7, 2018 /PRNewswire/ -- First Bancorp, Inc., parent holding company of First Bank & Trust Company, has again been ranked among top performing banks. 

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Sandler O'Neill + Partners, a New York based firm, provided the scorecard using data from S&P Global Market Intelligence.  As in previous studies, the scorecard divided banks into three asset categories: $50 billion and above, $5 billion to $50 billion and $1 billion to $5 billion.  This year, 300 of the largest publically traded banks in the nation were ranked against each other as a single group.  Scorecard results confirm that there is no absolute correlation between asset size and bank performance.  First Bancorp, Inc. ranked among the top banks in Virginia and 14^th highest performing bank in the United States.  First Bancorp, Inc. was also ranked eighth among all banks in the nation with assets between $1 billion and $5 billion.

The scorecard uses five metrics that measure performances: 1) Return on Average Assets (ROAA); 2) Return on Average Equity (ROAE); 3) Non Performing Assets to Total Assets (NPA) and other real estate owned; 4) Ratio of net charge-off to average loans which measures the strength of the bank's asset quality; and 5) the ratio of tangible common equity (TCE) to total assets.

President and CEO of First Bank & Trust Company, William H. Hayter commented about the rankings, "We remain committed to the founding values that have played a pivotal role in placing First Bank and Trust Company among the top performing banks in the nation.  Our financial strength has generated value for our customers and our communities." 

Download a PDF of the complete report.

About First Bank & Trust Company

First Bank & Trust Company, one of the top community banks in the United States, is a diversified financial services firm with office locations in southwest Virginia, northeast Tennessee, and New River and Shenandoah Valleys.  Financial objectives are addressed by offering free checking products for personal and business accounts, and assessing lending solutions managed by mortgage, agricultural and commercial lending divisions.  Comprehensive financial solutions are available through trust and brokerage service representatives. 

For more information, visit www.firstbank.com or contact Nicole Franks [email protected]

SOURCE First Bank & Trust Company