MINNEAPOLIS, April 21, 2020 /PRNewswire/ -- Park Financial Group, Inc., the holding company of three Minnesota-based community banks, announced today its wholly owned subsidiary, Park State Bank, was ranked the #1 top performing bank in Minnesota based on its 2019 performance by S&P Global Market Intelligence. This is the third straight year Park State Bank has earned this honor in the State. The Minneapolis-based lender also earned the #17 spot on the list of top performing banks under $3 billion nationwide.
"We are so honored to hold the number one spot in Minnesota for the third straight year as it puts to paper the fact that Park State Bank is continuously working for its customers with a high-touch, community-oriented approach," said David Saber, CEO of Park Financial Group and president of Park State Bank. "Even now, as we navigate a completely unforeseen crisis, we are doing everything – and will continue to do everything – we can to serve our community well, while keeping our fundamentals strong."
According to S&P Global Market Intelligence, 4,391 banks and thrifts were ranked based on core financial performance metrics, including efficiency ratio, loan growth, and net charge-offs to average assets.
"We are very proud of the work we do at Park State Bank," Saber added. "We see the award as recognition of our fundamental financial strength, which gives us the agility and depth to invest in our communities' resilience with the personal touch we are known for across the state."
About Park Financial Group, Inc. Park Financial Group, Inc. is a Minneapolis-based holding company that operates primarily through its wholly-owned subsidiary, Park State Bank and investment in Mesaba Bancshares, Inc. Park State Bank has four offices in Duluth, Minnesota and one office in Minneapolis, Minnesota. Park State Bank provides customized banking solutions to its customers, and its client-centric approach to delivering financial solutions defines how it does business. Park State Bank was ranked number one among top-performing banks nationwide under $3 billion by S&P Global Market Intelligence based on 2018 performance. Park State Bank was also considered the best-performing Minnesota bank in the S&P 2017, 2018 and 2019 community bank rankings and top 50 nationally.