Keefe Bruyette & Woods Inc. named 18 banking institutionsto its 2015 Bank Honor Roll, down from 2014's 25 institutions, according to an April 11 news release.
Of the 18 companies, 17 are returning members. Birmingham,Ala.-based ServisFirst BancsharesInc. was named the lone new member to the list.
The returning members are Gettysburg,Pa.-based ACNB Corp.; Auburn, Ala.-based Auburn National Bancorp. Inc.; Oklahoma City-based BancFirst Corp.; Medford, Mass.-based Century Bancorp Inc.; Bethesda, Md.-based Eagle Bancorp Inc.; Lowell, Mass.-based Enterprise Bancorp Inc.; Defiance, Ohio-based First Defiance Financial Corp.; Abilene, Texas-based First Financial Bankshares Inc.; Jasper, Ind.-based German American Bancorp Inc.; Catskill, N.Y.-based Greene County Bancorp Inc. (MHC); Warsaw,Ind.-based Lakeland Financial Corp.;New York-based Signature Bank; Louisville, Ky.-based Stock YardsBancorp Inc.; Portsmouth,Va.-based TowneBank;Minneapolis-based U.S. Bancorp; Westerly, R.I.-based WashingtonTrust Bancorp Inc.; and San Francisco-based Wells Fargo & Co.
According to KBW, the publicly traded companies, with over $500million in total assets, have no annual loss reported in the net income per share,before extraordinary items, over the past 10 years. The companies on the honor rollalso reported net income per share, before extraordinary items, equal to or greaterthan peak net income per share over the past 10 years. KBW further noted the listedcompanies showed consecutive increases in net income per share, before extraordinaryitems, since 2001.
The Bank Honor Roll companies also outperformed banking peersand the market, in terms of stock price, between 2010 and 2015, KBW said. With amedian price increase of 10.5% compounded yearly, these companies outperformed theKBW Bank Index and the KBW Regional Banking Index five-year compound annual growthrates of 7.0% and 8.8%, respectively. The companies modestly outperformed the S&P500's five-year compound annual growth rate of 10.2%.
In 2016, up to March 31, the KBW Bank Honor Roll companies continuedto do better than peers, outperforming the KBW Bank Index's and KBW Regional Banking Index's declinesof 9.7% and 4.2%, respectively. The companies, however, underperformed the S&P500, which advanced 0.4%.
The eight names from the 2014 edition that did not make the 2015list are Mattoon, Ill.-based FirstMid-Illinois Bancshares Inc.; Middlefield, Ohio-based ; South Bend, Ind.-based1st Source Corp.; St. Louis-basedCass Information Systems Inc.;Hingham, Mass.-based Hingham Institutionfor Savings; Oakdale, Calif.-based Oak Valley Bancorp; Houston-based Prosperity Bancshares Inc.; and Wheeling, W.Va.-based