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Andover Bank ranked as a Top 200 Publicly-Traded Community Bank Again

Andover Bank ranked as a Top 200 Publicly-Traded Community Bank Again

Wednesday, July 1, 2020/Categories: Bank News

Andover Bank has made American Banker Magazine’s 2020 ranking of the top 200 publicly-traded community banks in the nation. This is the fifth year in a row that the bank has been recognized on the annual list.

The rankings include publicly-traded banks and thrifts with less than $2 billion in assets. The overall group consisted of 511 institutions that fit the criteria for the ranking. All institutions were rated based on return on average equity for the last three years. Andover Bank reported a 3-year average ROAE of 9.5%, landing it in the top 200 of those institutions.

Stephen E. Varckette, President and CEO of Andover Bank, remarked, “It is an honor to once again make American Banker’s list of the top publicly-traded community institutions. It’s a byproduct of our employees’ dedication to helping the families and businesses in our communities reach their financial goals.”

The bank has undergone significant advancements over the past couple of years, rolling out a new brand and additional technologies, with no plans to slow down.

“Like everyone else, COVID-19 has certainly presented many challenges for us,” says Craig Cumberworth, Senior Vice President of Retail Banking. “However, we are even more committed now to our role as a community bank. We will never stop working to help our communities thrive.”

To view the full article and rankings, please visit the American Banker’s website.