Cape Girardeau – The risk management firm CB Resource, Inc. has ranked MRV Banks third on its CB Top Ten™ list of community banks with assets between $500 million and $1 billion. The firm identifies the top 10% of community banks throughout the nation and provides industry insights to promote and enhance overall performance. In the third quarter 2023 report, it recognized MRV Bank’s overall performance when compared to other community banks with the same assets.
“We are honored to receive recognition for the third consecutive quarter, a testament to our steadfast commitment to excellence and growth within the banking sector,” said Doug Watson, MRV Banks president and CEO. “This acknowledgment further validates our unwavering dedication to setting and surpassing industry standards. We celebrate this achievement and look forward to continued success in the future.”
The CB Top Ten™ categorizes community banks into five peer groups based on total assets. The firm provides a summary of the top ten percent of community banks based on key performance indicators. Those include asset growth, return on average assets, return on average equity, net interest margin, efficiency ratio, non-performing assets, non-interest-bearing deposits and non-interest income. This report is produced annually and quarterly.
Founded in 2007, MRV Banks is one of the fastest-growing banks in Missouri. With more than $700 million dollars in assets, it is the 49th largest bank in the state of Missouri out of 215 state-chartered banks. MRV Banks has locations in Ste. Genevieve, Cape Girardeau, Festus, and its newest location in St. Charles. MRV Banks has a reputation for delivering premium banking products and services to local consumers and small business customers throughout Missouri. For more information about MRV Banks, go towww.mrvbanks.com or call 573-883-8222.