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Metro Phoenix Bank is 2017's best-performing bank under $1B in assets

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Metro Phoenix Bank is 2017's best-performing bank under $1B in assets

Arizona's Metro Phoenix Bank soared to the top of S&P Global Market Intelligence's 2017 ranking of the best-performing community banks under $1 billion in assets.

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Rising from the ashes of a net loss in 2016, Metro Phoenix turned in a fiery 2017 with a 23.39% pretax return on average tangible common equity, strong loan growth and a 5.90% net interest margin.

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Founded in 2007, Metro Phoenix focuses on lending to businesses and real estate professionals. At the end of 2017, nonfarm, nonresidential commercial real estate loans accounted for 62.06% of its total loans, while commercial-and-industrial loans accounted for another 18.80%. The bank's concentration in construction and development loans also increased to 11.68% by the end of 2017 from 3.97% in 2016.

Last spring, Metro Phoenix completed a $10 million private placement stock offering to help fund further growth.

Oklahoma-based First Bank of Owasso took the runner-up spot in this year's ranking, followed by Sandy, Utah-based FinWise Bank. First Bank of Owasso performed above the top-100 median in five of six metrics, while FinWise Bank outpaced the pack in return on average tangible common equity, net interest margin and loan growth. Both institutions are repeat top performers, having placed 27th and 26th, respectively, in 2016's ranking.

Interestingly, 2016's winners all dropped significantly in the 2017 ranking. Former No. 1 Shallowater, Texas-based First State Bank fell to No. 322 in 2017 after its loan growth dropped below 2% and credit quality deteriorated slightly. Meanwhile, Kansas-based First National Bank of Syracuse and Platte City, Mo.-based Wells Bank, formerly No. 2 and No. 3 in 2016, fell to No. 78 and No. 108 in 2017.

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Texas placed 13 of its 325 eligible banks in the top 100 in 2017, more than any other state. California came in second with 10 banks on the list.

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Click here for an article on the top-performing community banks with $1 billion to $10 billion in assets for 2017.

Click here for an article on the top-performing community banks with less than $1 billion in assets for 2016.

Click here for an article on the top-performing community banks with $1 billion to $10 billion in assets for 2016.

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Click here to download a refreshable template containing the underlying data used in the rankings and the list of top 100.

For S&P Global Market Intelligence's 2017 credit union ranking, click here.