Denver, CO, February 25, 2020 — Citywide Banks through its parent company, Heartland Financial USA, Inc. (NASDAQ:HTLF), has been named a “Forbes Best Bank 2020.”
In its annual review of the largest publicly traded banks and thrifts, Forbes ranked Heartland 40th among a nationwide group of 100 leading banking organizations with assets ranging from $9 billion to over $2 trillion.
“We are proud to be named among the Best Banks in America for 2020,” said Joanne Sherwood, President and CEO at Citywide Banks. “As a community bank, what sets us apart is our strong commitment to our customers, combined with access to ‘big-bank’ products and services as part of Heartland.”
“The Forbes ranking underscores the benefits of our unique structure—the strength and capabilities of a big bank, combined with the personal touch and local decision-making of a community bank,” Sherwood said. Citywide Banks offers full-service branches where experts can meet all financial needs throughout the community.
To compile the rankings, Forbes used data collected by SNL Financial through the third quarter of 2019 on the country’s largest publicly traded banks and thrifts. The data covered ten metrics of financial health: return on average equity; net interest margin; nonperforming loans (NPLs) as a percentage of loans; nonperforming assets as percentage of assets; reserves as a percentage of NPLs; two capital ratios (Tier 1 and risk-based); and leverage ratio. Forbes generated its ranking based on an average of the individual ranks of each metric.
News Parent Company of Citywide Banks Recognized as a Forbes Best Bank in America for 2020