HUTCHINSON, KAN., July 6, 2023 – DCI (Data Center Inc.), the privately-owned developer of core processing, digital banking, and fintech processing solutions for community banks nationwide, recently had two of its customers, Security State Bank of Wanamingo and Valley Premier Bank – both of Minnesota – featured in the Minneapolis/St.Paul Business Journal as two of the strongest small banks in the state.
In the article, the Business Journal listed seven metrics they used for determining the ranking. Among the categories used to determine the strength of the banks were problem-loan ratio, equity capital, and income.
The Business Journal compared more than 250 banks, separating them into three categories based on total assets. For the small bank analysis, they looked at banks with less than $150 million in assets.
The five small banks who made the list managed to successfully carve a stable niche of the market out for themselves with small or nonexistent problem loan ratios and a high level of insured deposits.
Security State Bank of Wanamingo came in third on the list and the Business Journal said, “This Goodhue County bank, which celebrated its 100th birthday in 2018, has a strong core capital ratio, and almost 90% of its deposits are insured by the FDIC. Its income is also highest among the other banks in the top five.”
Valley Premier Bank was fourth on the list, and the Business Journal noted, “With locations in Clay County, Valley Premier Bank has a 0% problem loan ratio and has a fairly strong level of insured deposits.”
The Business Journal also stated that small, often rural banks, pride themselves on their relationships with their clients, and with the banking industry in tumult, those personal relationships can go a long way to securing a small bank’s success.
Click here to read the article.
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