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Andover Bank announces Top 200 National Ranking

Andover Bank announces Top 200 National Ranking

Thursday, May 30, 2019/Categories: Andover Bancorp Press Releases, Bank News

Stephen E. Varckette, President and CEO of The Andover Bank, is proud to announce the bank has received the following recognition.

American Banker has ranked The Andover Bank as one of the top 200 community banks in the nation. The annual ranking includes publicly-traded banks and thrifts with less than $2 billion of assets. The overall group consists of over 600 institutions that fit the criteria for this ranking.

The top 200 institutions were ranked by return on average equity across the last three years.  The bank’s average three-year return on average equity was 9.50%.  Additionally, this year the bank will be celebrating its 135 anniversary and recently unveiled a flurry of brand updates, including a new logo, website and signage to better position itself for future growth opportunities.  The Andover Bank is a locally owned and independent community financial institution serving northeastern Ohio and northwestern Pennsylvania.  

Mr. Varckette stated, “This is the fourth consecutive year American Banker has recognized the bank as one of the top 200 publicly traded banks in the country.  I’m so proud of our employees and management team who have worked tirelessly to make a meaningful impact in the communities we serve.”