HANOVER, N.H.--(BUSINESS WIRE)--Ledyard Financial Group, Inc. (Ticker Symbol: LFGP), the holding company for Ledyard National Bank, was ranked among the Top 200 publicly traded banks and thrifts in the United States by American Banker Magazine for the third straight year. The rankings were based on return on average equity across three years. Ledyard Financial Group ranked 159th in 2016 and moved up twenty-one spots to the 138th position in 2017 with a three-year average ROAE of 9.74%.
According to the May 2017 edition of American Banker Magazine, the top 200 community banks grew assets by a median of $62.7 million, compared to $39.3 million for the peer group. This growth helped to offset increased regulatory expenses and other cost drivers. The magazine quoted Kevin Halsey, a consultant for Capital Performance Group as saying, “Institutions are getting bigger, either from organic growth or from acquisitions so they are able to better spread their expenses across their asset bases. That increased scale really allows the top 200 to be more efficient.” Ledyard’s accomplishment demonstrates the Bank’s sustained ability to use its equity efficiently.
Kathy Underwood, President and CEO of Ledyard Financial Group, Inc. stated, “Ledyard is honored to be recognized in this elite group of community banks by American Banker Magazine for a third consecutive year. Our focus on helping our clients plan for their financial futures while enhancing shareholder value continues to help us grow and strengthen as we expand into new markets in our state. To be recognized as the only New Hampshire community bank on this list is a true testament of our exceptional team members who are dedicated to our core values.”
Ledyard Financial Group, Inc., headquartered in Hanover, New Hampshire, is the holding company for Ledyard National Bank. Ledyard National Bank, founded in 1991, is a full service community bank offering a broad range of banking, investment, tax and wealth management services.
Ledyard Financial Group, Inc. shares can be bought and sold through the NASD sanctioned “OTC Markets” under the trading symbol LFGP. Shares may be traded through an individual’s broker. For more information, please refer to the “Investor Relations” section of the bank’s website at www.ledyardbank.com or contact the bank’s Chief Financial Officer, Gregory D. Steverson.