Benchmark ranked No. 42 by ‘American Banker’
Benchmark Bankshares, Inc. (BMBN), the holding company for Benchmark Community Bank, has been named to American Banker magazine’s list of Top 200 Community Banks for the 15th consecutive year.
Ranked number 42 on the list, Benchmark’s total assets at the end of 2020 were $870.8 million. Serving central southside Virginia and northern North Carolina, Benchmark ranked first among the 13 Virginia banks and fourth among the eight banks in North Carolina that also made the list.
The top 200 rankings were published in the May issue of American Banker. According to the magazine, “The top performers of 2020 managed to boost profits and minimize loan losses despite fallout from the coronavirus pandemic.”
“The pandemic presented community banks with a set of challenges we had never encountered,” Jay A. Stafford, president/CEO, said. “We are humbled that Benchmark had the opportunity to assist so many people and businesses with solutions to help them through this most unusual period. Without our customers, we would not be here. As we celebrate our 50th year in business, we appreciate their loyal patronage.”
Capital Performance Group compiles and analyzes data from publicly traded banks and thrifts with less than $2 billion in assets. The institutions are ranked based on their three-year average return on average equity (ROAE) for the period from 2018 through 2020. Benchmark’s three-year ROAE was 13.56%. Of the nearly 5,000 community banks in the nation, 479 institutions met the criteria for consideration.