Genesee regional bank recognized by S&P Global Market Intelligence as one of the best performing community banks in the country in 2020


ROCHESTER, NY, March 30, 2021 / PRNewswire / – Genesee Regional Bank (GRB), a locally owned and operated bank specializing in business banking, personal banking and residential mortgages, has been recognized by S&P Global Market Intelligence as the one of the “best performing community banks for 2020” for banks up to $ 3 billion in assets. Classified as no. 23, GRB is the only one New York State community bank on the national list.

To determine the ranking, S&P calculated the scores of over 4,000 financial institutions on six weighted measures: pre-tax return on tangible equity, efficiency ratio, net interest margin, operating revenue growth, profit ratio. leverage and non-performing assets and loans 90 days past due as a percentage of total assets and paycheck protection program (P3) net loan amount. GRB performed well in all categories, delivering an efficiency ratio of 46.03%, maintaining non-performing assets at 0.30% as a percentage of total assets and generating a tangible return on equity of 25 , 83%.

“During a year filled with so many uncertainties, we are proud that GRB has been able to maintain its stability, achieve significant efficiency gains and serve the local community as one of the leading providers of PPP SBA loans. of the region, ”said the President and CEO of GRB. Philippe L. Pecora. “Our investments in technology from previous years and our ability to develop an engaged and high performing workforce allowed us to respond quickly to the PPP program and simultaneously move forward with other lending activities,” growth in deposits and supporting a record year for our mortgage team. “

“Despite a difficult year filled with economic uncertainty, we have seen community banks and credit unions play an important role in their regional markets, providing the essential support and services needed by their local communities. I am delighted to see these community banks and credit unions thrive in difficult times and are proud to recognize these top performing local financial institutions in our annual ranking, ”said Jimmy pittenger, Senior Director of Financial Institutions at S&P Global Market Intelligence.

Pecora stresses that it is the bank’s strong relationships with its clients that have laid the foundations for the optimal use of its technological infrastructure and the shift to a remote working environment for more than 70% of the bank’s employees.

“We pride ourselves on being the kind of banking partner who knows our customers intimately and works with them proactively to meet challenges and take advantage of new opportunities,” said Pecora. “In an environment like 2020, these relationships were essential. Even as things changed for us and our customers on a daily basis, they knew we were focused on doing the right thing for them, for our employees and for this community.”

In addition to processing PPP loans for 575 small businesses, 2020 has also brought GRB a number of other accomplishments: achieving Emerald Award status from the US Small Business Administration (SBA) and being the # 1 SBA lender in the world. Rochester region, being named in the Rochester Chamber Top 100 list of fastest growing private companies, and being recognized as one of the “Best Companies to Work for in new Yorkby the Society for Human Resource Management. The bank was also one of the leading lenders of purchase mortgage loans in the region and was recently named one of the leading providers of residential mortgage refinancing by .

“We were well positioned in 2020 to meet the rapidly changing needs of our customers while providing opportunities for our employees and shareholders,” said Pecora. “We know that force will be needed in 2021 as we continue to support recovery efforts of small businesses and community members in the Rochester Region.”

Read the full S&P report.

About the Genesee Regional Bank
Created in 1996, the Regional Bank of Genesee (GRB) celebrates its 25e anniversary in 2021. The genesis of two successful businessmen, E. Philippe saunders and Dan Gullace, GRB was created with the goal of re-establishing a community banking presence and helping small businesses grow in the Rochester area. From this vision emerged not only a successful financial institution, but also an institution known to be a trusted advisor to its small business clients in a wide range of industries. The addition in 2013 of improved mortgage services brought another essential service to the bank’s customers and the local community. With loan decisions made right here at Rochester, GRB’s residential mortgage team has grown rapidly and is now one of the region’s leading mortgage lenders.

GRB has experienced steady growth throughout its history, increasing the size of its assets to over $ 800 million in 2021. The bank currently employs more than 140 people in the Rochester Region.

Stacey Michaels, Marketing director
Regional Bank of Genesee
[email protected]

SOURCE Genesee Regional Bank

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