River Valley Bank ranked among top community banks
Saturday, June 07, 2014 5:00 AM
The River Valley Financial Bank was recently ranked 127th out of the country's top 200 community banks by American Banker Magazine. Earlier this year, the Indiana Business Journal listed the locally headquartered bank as one of the top 25 performers of publicly traded companies in Indiana.
To be included on the list of the top 200 performers, banks needed to see at least an 8.66 percent return on equity. River Valley has a 9.04 return on equity, and, on average, the banks listed in the top 200 posted a 10.44 percent return on equity for the year.
According to the article, "A total of 851 institutions fit the criteria for our ranking, including four that shrunk below $2 billion of assets during the year."
The article listed River Valley as having $482,837 in total assets, a $41.4 million market value, a 9.9 percent return on assets average for three years, 4.3 percent net interest and $7,839 in net income.
River Valley President and CEO Matt Forrester said he was proud of the notifications the bank has received this year.
"We had a terrific year," Forrester said.
"It speaks well to the state of banking in Indiana."
Forrester added that River Valley Financial Bank is the only publicly traded business with its headquarters located in Madison.
"This is our base. We're glad to be here," he said.
River Valley Financial Bank was founded in Madison in 1975. The bank is still based in Madison, and has 12 locations in Indiana and one in Kentucky.