PEOPLES NAMED ONE OF STATE’S TOP BANKS

Peoples Bank of Paris is one of the state’s top performing banks, according to the Independent Bankers Association of Texas. The local financial institution received the award during the association’s annual convention and business meeting in Austin. “We are pleased to recognize excellence in community service and performance among our members,” said Christopher L. Williston, association president and chief executive officer.  “ There is a direct correlation between the success of a community bank and the success of a community.” Ronald E. Abbott, chairman and chief executive officer of Peoples Bank, said the award reflects on the bank’s personnel and the community.  “It was an honor to receive this award two years in a row,” he said.  “Truly, the award is a compliment to all the officers, directors and employees of Peoples Bank.”  The fact that the recognition comes from an organization that represents our peers makes it very special to each member of our bank family.  As Mr. Williston stated, the award also makes a positive statement about the support and strength of Paris and Lamar County. Peoples was among the three most profitable of the association’s members in return on equity and return on assets in the $75 million to $150 million category.  Top performers were selected by analyzing data from the Federal Deposit Insurance Corporation. “Strong earnings allow for additional growth which equates to additional investment in small business and consumer activities in the local economy,” Williston said.  “It is a win-win scenario.” The Texas Independent Bankers Association of Texas was chartered in 1974 and represents more than 600 community banks, which are independently owned and operated and maintain their corporate headquarters in Texas. Investment firm James Baker and Associates co-sponsored the awards, given in late September.  

PEOPLES AT TOP OF JOURNAL’S BANK LIST

A Paris bank had the highest return on average assets of the community banks in the first quarter, American Banker reported in its June 26 edition. The journal is a trade publication for the banking industry. “Peoples Bank’s directors, officers and employers are extremely honored and appreciative that the American Banker has recognized the bank as the No. 1 community bank in America,” Chief Executive Officer Ronald E. Abbott said. The return on assets is income earned on loans and investments, Senior Vice President Brad Perry said.  For the first quarter of 2002, Peoples Bank had a return on average assets of 3.69 percent.  In the first quarter of this year, that grew to 18.6 percent.  The bank had $1.09 million in assets for the first quarter of 2003. “At the end of each day, the bank has X dollars of assets,” Perry explained.  “For the first quarter that was the average of all those days.” The improvement of 14.91 percent was the best on American Banker’s list of 150 banks. American Banker also reported a return on average equity of 139.39 percent.  Equity is the bank’s capital – what is left over when the liabilities are subtracted from assets, Perry said. Peoples Bank also has an efficiency ratio of 67.42 percent. “There’s a formula that is used that involves non-interest income and non-interest expense,” Perry said.  “It’s a formula a lot of rating agencies use to rate banks.” The credit for the success goes to the employees and community, bank officials said. “We would like to sincerely thank all of our customers and the entire community for your support in this accomplishment,” Abbott said.  “The directors and officers would also like to thank the entire Peoples Bank staff for their hard work and dedication.” 

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