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West Bank ranks No. 10 on S&P Global list of top-performing large community banks

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West Bank has been recognized by S&P Global on its annual list of the 50 top-performing large community banks. The West Des Moines-based bank, which was ranked No. 10 among banks in the $3 billion to $10 billion asset size, was the only Iowa-based bank on the 2020 list in the large community bank category. “This is a new one for us because of our growth,” said Dave Nelson, West Bank’s CEO. “We’ve quietly quadrupled in size over the past 10 years.” The bank became eligible for the large community bank category for the first time in 2020 by reaching $3 billion in assets. S&P Global used six key banking metrics to rank the banks, among them the weighted pre-tax return on tangible common equity, efficiency ratio and operating revenue growth. West Bank has been strong in several of those areas, Nelson said. “We have good credit quality because we have good customers; our growth rate has been pretty high due to our expansions, and we have a low [good] efficiency ratio, being a business bank.” Two Iowa community banks were recognized as top performing in the less than $3 billion asset category: Farmers State Bank in Waterloo and Security State Bank in Sutherland. In the credit union category, North Liberty-based GreenState Credit Union was ranked No. 10 nationally, and Veridian Credit Union and Dupaco Credit Union were also recognized among the 100 top-performing credit unions.