Bancography, a financial services consulting firm, released its 2010 rankings for its Bancography Brand Value Index (BBVI), a quantitative ranking of the brand strength of all US banks, thrifts and credit unions. The firm developed the system so that it could assist financial institutions with evaluating the strength of their brands. The index calculates the value of an institution’s brand and ranks that institution comparatively among its peers.
In determining a brand’s value, Bancography quantifies the proportion of each institution’s long-term value that is attributable to the intangible factors that constitute an institution’s brand. These factors include the institution’s reputation, service quality, image and market awareness. The brand value index identifies institutions that produce financial results beyond what their capital base, market conditions and competitive environments would predict. The calculations reward institutions that display consistently strong earnings and a reasonable cost of funds.
Only three of 2009’s leaders returned to the top 10, a reflection of the economy’s recent volatility. Similarly mirroring the broader economy, five banks based in Texas — a state that has weathered the recession better than nearly any other — reached the top 10 in the mid-sized tier.
“The 2010 BBVI reflects the fluid financial services landscape as providers continue to confront the aftermath of the recession,” says John Mathes, Director/Bancography. Banks that pay homage to the pillars of sound brand strategy using clear differentiation and consistency of message reap the benefit at their competitors’ expense.”
Oddly some of the bank brands most often celebrated by industry experts — banks like Umpqua and ING DIRECT — are nowhere to be found in Bancography’s rankings.
Do you want to know where your bank ranks? Easy. Just contact Bancography. “We will supply at no cost any institution’s ranking if they contact us,” promises Mathes.
“But to make the rankings relevant as to how well an institution is doing in any given market, they would need to know their competitors’ index,” continues Mathes. “So we sell a product called ‘Market Snapshot’ that supplies all community bank and credit union rankings by DMA. The Snapshot also contains helpful observations and insights from that DMA.”
This is the third year Bancography has published its bank brand index. You can find the data for 2008 and 2009 on Bancography’s website. The BBVI includes parallel rankings for credit unions.
Banks: More than $30 billion in assets (23 total)
New banks sit atop the BBVI for the first time in two years. Northern Trust (IL) leads the nation’s largest institutions (banks with assets of at least $30 billion), followed by U.S. Bank, Wells Fargo, JPMorgan Chase and BB&T.
In the 2009 BBVI, U.S. Bank led the $30B+ banks, with Wells Fargo second. Other than Bank of America, which slipped to 11th place, all $30B+ banks in 2009’s top 10 retained their top-10 status. Fifth Third entered the top 10 for the first time, ranking sixth. In the mid-sized tier, Intrust jumped six spots to end Woodforest’s two-year reign; however, Woodforest still shows strong in the second position.
Banks: $2-$30 billion in assets (179 total)
For two years Woodforest National Bank (TX) ranked first among the mid-sized institutions (assets $2B – $30B), but Intrust Bank (KS) unseats Woodforest in 2010, relegating Woodforest to the second position. Iberiabank reached the top 10 for the first time.
|2||Woodforest National Bank||TX||1|
|3||Amarillo National Bank||TX||4|
|6||First United Bank & Trust||OK||16|
|7||American State Bank||TX||29|
|8||Broadway National Bank||TX||78*|
|9||The Frost National Bank||TX||19|
|11||First-Citizens Bank & Trust||NC||45|
|14||First Citizens Bank||SC||27|
|15||First Financial Bank||OH||35|
|16||City National Bank||WV||8|
|17||First Interstate Bank||MT||11|
|18||Great Southern Bank||MO||33|
|20||Union Bank & Trust||NE||31|
|* moved up from 500M-2B|
Banks: $500 million – $2 billion in assets (770 total)
Leading brands among the smaller banks ($500M – $2B in assets) include First National Bank Texas (TX), two banks from Colorado’s FirstBank holding company, Citizens Security Bank (OK), as well as four other Texas banks. First State Bank (GA) represents the only top-20 institution in this asset tier that is domiciled east of the Mississippi River.
|1||First National Bank||TX||4|
|3||FirstBank of Tech Center||CO||102*|
|4||Citizens Security Bank & Trust||OK||21|
|5||Bank of the West||TX||5|
|7||First Command Bank||TX||16|
|8||Western National Bank||TX||3|
|9||First State Bank & Trust||GA||41|
|11||The Bank of Castile||NY||26|
|13||Stock Yards Bank & Trust||KY||45|
|15||Habib American Bank||NY||173|
|16||The Canandaigua National Bank||NY||53|
|17||North Community Bank||IL||144*|
|18||Boone County National Bank||MO||28|
|19||First Financial Bank||TX||19|
|20||Cambridge Trust Company||MA||48|
|*moved up from <500M|
Banks: Less than $500 million in assets (4,926 total)
Texas also leads the sub-$500M asset tier. The East Texas National Bank of Palestine (TX), First
National Bank of La Grange (IL) and Stockmens National Bank in Cotulla (TX) lead the group, with two more Texas institutions placing in the top 10. Again, the Southwest, Midwest and West dominate, as only four of the top 20 banks hail from other regions.
|1||The East Texas National Bank||TX||15|
|2||First National Bank||IL||23|
|3||Stockmens National Bank||TX||24|
|7||Oklahoma State Bank||OK||32|
|8||American State Bank & Trust||ND||68|
|9||First Financial Bank||TX||114|
|10||The First National Bank of Trinity||TX||35|
|11||Community Bank of Louisiana||LA||65|
|12||The Bank of Baker||MT||2|
|14||Central Bank of Lake of the Ozarks||MO||9*|
|15||First American Bank||OK||50|
|17||Western National Bank||MN||2,102|
|18||First Texas Bank||TX||206|
|19||People’s Bank of Seneca||MO||220|
|20||The Third National Bank of Sedalia||MO||182|
|*moved down from 500m-2B|