NBT ranked as ninth-best in nation
NORWICH – In a Dec. 30, 2009, article titled “America’s Best And Worst Banks,” Forbes.com ranked NBT Bancorp as the ninth-best bank in the nation.
Forbes ranked the 100 largest banks, thrifts and holding companies on “eight financial measures that gauge asset quality, capital adequacy and profitability.” These financial institutions each have $5 billion or more in assets. The website ranked the institutions on each measure and added up the individual rankings.
Forbes noted that NBT Bancorp’s reserves as a percentage of nonperforming loans was 165 percent, the “fifth-highest among big banks.” NBT Bancorp was one of only two institutions from the East Coast to make the top 10. More information on the rankings can be found at www.forbes.com/bank-ratings.
In an article accompanying the rankings, Forbes stated that it wanted to “drill a little deeper into the health” of the nation’s largest banks, especially since some observers may assume that the “banking crisis is just about over.” Based on its findings, the website said those observers “would be wrong.”
NBT Bancorp President and Chief Executive Officer Martin Dietrich said, “This recognition helps validate our efforts to be a high-performing financial company while remaining safe, sound and secure. The U.S. economy and banking industry face continuing challenges, but we will keep our focus on taking care of our customers and delivering long-term value to our shareholders.”
Forbes is one of the world’s leading providers of business information. Its magazines and other media reach 50 million businesspeople around the globe.
Forbes ranked the 100 largest banks, thrifts and holding companies on “eight financial measures that gauge asset quality, capital adequacy and profitability.” These financial institutions each have $5 billion or more in assets. The website ranked the institutions on each measure and added up the individual rankings.
Forbes noted that NBT Bancorp’s reserves as a percentage of nonperforming loans was 165 percent, the “fifth-highest among big banks.” NBT Bancorp was one of only two institutions from the East Coast to make the top 10. More information on the rankings can be found at www.forbes.com/bank-ratings.
In an article accompanying the rankings, Forbes stated that it wanted to “drill a little deeper into the health” of the nation’s largest banks, especially since some observers may assume that the “banking crisis is just about over.” Based on its findings, the website said those observers “would be wrong.”
NBT Bancorp President and Chief Executive Officer Martin Dietrich said, “This recognition helps validate our efforts to be a high-performing financial company while remaining safe, sound and secure. The U.S. economy and banking industry face continuing challenges, but we will keep our focus on taking care of our customers and delivering long-term value to our shareholders.”
Forbes is one of the world’s leading providers of business information. Its magazines and other media reach 50 million businesspeople around the globe.
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