NEW YORK--()--KBW, Inc. (NYSE: KBW), a full-service investment bank that specializes in the financial services sector, today named 45 U.S. banking institutions to its “Bank Honor Roll” of superior performers.
Honor Roll winners are publicly traded banking institutions with more than $500 million in total assets that meet the following three conditions:
1) No annual loss reported in net income per share before extraordinary items over the past 10 years;
2) 2011 annual reported net income per share before extraordinary items equal to or greater than peak net income per share over the past 10 years; and
3) Consecutive increases in net income per share before extraordinary items since 2009.
KBW found that 45 banking institutions, out of nearly 400 total companies screened, now qualify for inclusion on the KBW Bank Honor Roll.
A total of 17 new members made this year’s list: 1st Source Corporation (SRCE), Bank of Kentucky Financial Corporation (BKYF), C&F Financial Corporation (CFFI), CNB Financial Corporation (CCNE), Commerce Bancshares, Inc. (CBSH), Dime Community Bancshares, Inc. (DCOM), Greene County Bancorp, Inc. (GCBC), Horizon Bancorp (HBNC), JPMorgan Chase & Co. (JPM), Lakeland Financial Corporation (LKFN), Northeast Bancorp (NBN), Oak Valley Bancorp (OVLY), SVB Financial Group (SIVB), Texas Capital Bancshares, Inc. (TCBI), UMB Financial Corporation (UMBF), Washington Trust Bancorp, Inc. (WASH) and Wells Fargo & Company (WFC).
There are also 28 returning members that made this year’s list: Alliance Financial Corporation (ALNC), Ames National Corporation (ATLO), Bank of Marin Bancorp (BMRC), Bank of the Ozarks, Inc. (OZRK), BOK Financial Corporation (BOKF), Camden National Corporation (CAC), Cass Information Systems, Inc. (CASS), Century Bancorp, Inc. (CNBKA), Community Bank System, Inc. (CBU), DNB Financial Corporation (DNBF), Eagle Bancorp, Inc. (EGBN), ESB Financial Corporation (ESBF), First Citizens BancShares, Inc. (FCNCA), First Financial Bankshares, Inc. (FFIN), First Financial Corporation (THFF), German American Bancorp, Inc. (GABC), Harleysville Savings Financial Corporation (HARL), Hingham Institution for Savings (HIFS), Monarch Financial Holdings, Inc. (MNRK), National Bankshares, Inc. (NKSH), Northwest Bancshares, Inc. (NWBI), Penns Woods Bancorp, Inc. (PWOD), Prosperity Bancshares, Inc. (PB), Republic Bancorp, Inc. (RBCAA), S.Y. Bancorp, Inc. (SYBT), Southern Missouri Bancorp, Inc. (SMBC), Teche Holding Company (TSH), and Tompkins Financial Corporation (TMP).
The Bank Honor Roll is a way for KBW to acknowledge companies that have managed to successfully navigate a variety of obstacles as they have arisen, despite difficult conditions in what remains a growth-challenged environment.
In terms of stock price performance, Bank Honor Roll companies significantly outperformed both the banking industry and the overall stock market during the five-year period between 2006 and 2011.
Despite posting an average price depreciation of 0.9% compounded annually, the KBW Honor Roll banks outperformed both the KBW Bank Index (BKX) and the KBW Regional Banking Index (KRX) five-year compounded annual growth rates of -19.6% and -13.2%, respectively.
The Honor Roll banks also meaningfully outperformed the S&P 500 (SPX) return of -2.4% over the equivalent time period.
KBW, Inc. operates in the U.S., Europe and Asia through its broker dealer subsidiaries, Keefe, Bruyette & Woods, Inc., Keefe, Bruyette & Woods Limited and Keefe, Bruyette & Woods Asia Limited. Celebrating its 50th anniversary, KBW has established itself as a leading independent authority in the banking, insurance, brokerage, asset management, mortgage banking, real estate and specialty finance sectors. Founded in 1962, the firm maintains industry-leading positions in the areas of research, corporate finance, mergers and acquisitions as well as sales and trading in equities and debt securities of financial services companies.