United Community Bank has recently been recognized on two prestigious lists by Forbes magazine. For the eighth consecutive year, the bank was named to Forbes list of America’s Best 100 Banks. United maintained its top 25 ranking in this impressive group, a testament to its resilience throughout the global health pandemic and success in aiding customers in need through the Paycheck Protection Program. The bank was also named to Forbes list of America’s Best Midsize Employers where it ranked in the top 20 in the banking and financial services category.
“It is very rewarding to have our teams recognized in this way by Forbes,” said Lynn Harton, Chairman and Chief Executive Officer of United Community Bank. “Through a difficult year, our employees have lived up to our brand promise of being “The Bank that Service Built®” and worked tirelessly to assist our customers and to grow our business. In a year that affected each of us personally, professionally and emotionally, I am proud for the people of United to be recognized with these awards.
For twelve years, Forbes has ranked 100 of the largest publicly traded banks and thrifts nationwide on ten metrics including return on average tangible equity, return on average assets, net interest margin, efficiency ratio and net charge-offs as a percent of total loans. The magazine also factored in nonperforming assets as a percent of assets, CET1 ratio, risk-based capital ratio and reserves as a percent of nonperforming assets. The final component, according to the magazine, is operating revenue growth. Data for the ranking was provided by S&P Global Market Intelligence. United ranked 21 on the 2021 list.
To determine the list of America’s Best Midsize Employers, Forbes surveyed 38,000 Americans working for businesses with at least 1,000 employees. Respondents were asked to rate how likely they would recommend their employer to others and to nominate organizations other than their own. The final list included 500 midsize employers. In its first year on the list, United ranked 246 overall.