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FNB named one of nation’s top banks |
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Friday, 25 July 2008 |
SCBIZ Daily Staff
SPARTANBURG – First National Bancshares Inc., the holding company for First National Bank of the South, was recently listed as one of the nation' top 200 community banks by U.S. Banker magazine.
The magazine ranked the banks according to a three-year average return on equity. First National is 80th on the list with a three-year average return on equity of 15.40%. The data collected by SNL Financial included publicly-traded community banks and thrifts, as well as private companies that file with the Securities and Exchange Commission.
"We are honored to be included in this group of top-performing community banks who have maintained high returns on equity, despite the recent decline in the financial markets, which began in the second half of 2007,” said Jerry L. Calvert, First National's president and CEO. “Like other community banks, we are focused on protecting our capital by controlling our expenses while we reinforce our loan loss reserves and maintain our franchise in all of our markets."
"Average return on equity is one of the top financial performance benchmarks, measuring the rate of return that we achieve on our investors' equity,” said Kitty Payne, First National's executive vice president and CFO. “This ranking demonstrates First National's dedication to efficiently leveraging our shareholders' capital investment in our company."
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