Bancography ranks financial institution brands in its annual Bancography Brand Value Index

BIRMINGHAM, Ala., Dec. 7, 2011 /PRNewswire/ -- Confirming the ongoing volatility in the banking sector, significant changes occur in the 2011 Bancography Brand Value Index (BBVI). Among the largest U.S. institutions (assets $30B+), Wells Fargo reclaims the number one position for the first time since 2008, followed by U.S. Bank, M&T, Fifth Third and PNC. M&T and PNC ranked in the top five in previous years, but Fifth Third enters the top five for the first time in 2011. Two previous high ranking institutions, Northern Trust and JPMorgan Chase, drop out of the rankings, as their equity levels fell below the minimum level for inclusion. 

FirstBank (CO) recently merged its numerous subsidiary banks into a single institution, moving it into mid-sized institution tier (assets $2B - $30B), and it earns the top position in that category. FirstBank is followed by United Bank (WV), The Central Trust Bank (MO), Union Savings Bank (OH) and Westamerica Bank (CA). All but Westamerica are new to the top five. After unseating Woodforest National Bank (TX) for the top spot in 2010, Intrust Bank (KS) returns to the top 10 in the sixth position. Woodforest, a perennial top five finisher in the category, now ranks 14th.

Buoyed by a strong economy, Texas commands a leading position throughout the rankings, as 12 Texas banks rank in the top 10 across the four asset tiers of the index. As in 2010, Texas, the Midwest and the West place strongly in the rankings, with banks from those regions occupying 30 out of 40 positions. In the assets < $500 million category, no other region places in the top 10. In contrast, the South and Mid-Atlantic regions are only minimally represented in the top 10 lists, indicating the troubled economy continues to affect brand strength. Institutions in those regions have suffered significant financial losses and greatly diminished balance growth rates.

Bancography, a financial services consulting firm, announced these findings in the release of its 2011 BBVI, a quantitative ranking of the brand strength of all U.S. banks, thrifts and credit unions. The index ranks financial institution brands by the premium they add to each institution's underlying tangible value. 

In calculating brand value, Bancography quantifies the proportion of each institution's long-term value that is attributable to the intangible factors that constitute an institution's brand. These factors include the institution's reputation, service quality, image and market awareness. The brand value index identifies institutions that produce financial results beyond what their capital base, market conditions and competitive environments would predict. The calculations reward institutions that display consistently strong earnings and a reasonable cost of funds.  

Leading brands among the smaller banks ($500M - $2B in assets) include Sabine State Bank and Trust Company (LA), an institution that did not meet BBVI eligibility requirements in 2010; First National Bank Texas, last year's number one; Central Bank of Lake of the Ozarks (MO), moving up from the < $500M asset tier; and Citizens Security Bank (OK), maintaining its number four position. Five additional Texas banks rank in the top 10. Several of the top 10 banks moved up from the < $500M asset tier, confirming strong brands and fast growth are often tied together. In the < $500M asset tier, First American Bank (OK), First State Bank of San Diego (TX) and Valley Bank of Commerce (NM) lead the way. Last year's first- and second-place institutions drop to 11th and 12th, respectively. As in 2010, Texas, the Midwest and West dominate, as all of the top 20 banks represent these regions. 

In addition to banks, the BBVI ranks credit unions. Among credit unions in the large institution tier (assets > $1 billion), Austin Telco Federal Credit Union (TX) defends its number one ranking from 2010, followed by Landmark (WI) and Local Government (NC). Complex Community (TX), Freedom (PA) and Gwinnett (GA) sit atop the small credit unions category (assets $100M - $1B), with Freedom jumping from a 28th place showing in 2010. 

Across more than 8,000 banks and 7,000 credit unions, the top performing institutions share consistent earnings and the low cost of funds that is inherent in strong financial brands. Steve Reider, Bancography's president, notes, "The 2011 BBVI illustrates the diverse nature of the economic recovery. In some regions of the country, banks have stabilized earnings and returned to steady deposit growth, a sign that some institutions have reestablished trust within their communities. But across the U.S., those institutions that remained committed to delivering a superior service and value proposition even in the down economy appear poised for growth as the recovery continues. It is critical for financial institutions to stay on point with their messaging, whether expressed through advertising, service, or distribution channels, and those that maintain consistent brand identity will continue to enjoy positive financial results."

Bancography, based in Birmingham, Alabama, provides consulting services, software tools and marketing research to financial institutions to support their branch, product and brand positioning strategies. To help institutions measure brand strength and penetration in a market, Bancography offers Brand Evaluator, a quantitative research program.

For the complete list of leading institutions or for any questions about the BBVI, contact Laura Levie at (205) 252-6671 or visit http://www.bancography.com/bbvi.html.

Contact:         

Laura Levie
Phone: (205) 252-6671
E-mail: laura@bancography.com

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SOURCE Bancography