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The latest issue of Independent Banker magazine is out, so pull out your magnifying glass.
That's because you'll have to look hard this year to find Florida banks on the magazine's annual Best of the Best rankings. The magazine is the Independent Community Bankers of America's monthly publication, an organization that represents 6,000 community banks.
Only five Florida community banks appeared on the Best of the Best list this year and just two are based on the Gulf Coast: First Home Bank of Seminole and Sanibel Captiva Community Bank.
Using 2015 data, the magazine selected the banks by asset size and highest return on average assets and return on average equity.
First Home Bank, in its category of banks from $75 million to $150 million in assets, ranked fifth based on return on average assets of 2.5%, and fourth based on return on average equity with 30.25%.
Sanibel Captiva Community Bank, in its category of banks from $150 million to $300 million in assets, ranked 18th for its return on average equity of 15.15% Not surprisingly, banks in the oil patch did especially well last year. Banks in Texas, Louisiana, Oklahoma, Kansas and North Dakota are dominant on the list.
But as the oil-dependent economies have fallen this year, don't expect many of these banks to become repeat top performers. That could make room for more Florida banks as the recovery continues.
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