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PRNewswire 5-Feb-2025 8:30 AM
Rankings include new deposit efficiency metric measuring cost of bank operations
NEW YORK, Feb. 5, 2025 /PRNewswire/ -- Banks with high concentrations of noninterest-bearing deposits proved to have the most enviable deposit franchises in 2024 according to the inaugural 2024 U.S. Community Bank Deposit Rankings from S&P Global Market Intelligence. The rankings assign a premium to efficient operations and reduced reliance on borrowings and certificates of deposit.
"Deposits represent the true value of a banking franchise," said Nathan Stovall, director of financial institutions research, S&P Global Market Intelligence. "Analyzing different deposit franchises at this point in the rate cycle highlights which banks' deposits performed the best during the Federal Reserve's tightening cycle."
Top Small Community Banks (Assets Under $3 Billion):
Top Large Community Banks (Assets Between $3 Billion and $10 Billion):
The rankings were based on weighted averages of eight metrics: noninterest-bearing deposits to total deposits, cost of interest-bearing deposits, interest-bearing deposit beta, time deposits to total deposits, CDs maturing in 12 months to total deposits, deposits to liabilities, average deposit growth and deposit efficiency. The new deposit efficiency metric is calculated by comparing noninterest expense excluding amortization and impairment less service charges on deposits to average deposits. The ratio captures how effectively a bank operates its deposit franchise beyond just interest expenses.
Click here to view the S&P Global Market Intelligence's 2024 U.S. Large Community Bank Deposit Rankings. Click here to view the S&P Global Market Intelligence's 2024 U.S. Small Community Bank Deposit Rankings.
S&P Global Market Intelligence's opinions, quotes, and credit-related and other analyses are statements of opinion as of the date they are expressed and not statements of fact or recommendation to purchase, hold, or sell any securities or to make any investment decisions, and do not address the suitability of any security.
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S&P Global Market Intelligence is a division of S&P Global (NYSE:SPGI). S&P Global is the world's foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world's leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information, visit www.spglobal.com/marketintelligence.
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SOURCE S&P Global Market Intelligence