Belmont Savings Bank, which has a branch in Watertown Square, received two national recognitions, one for being one of the fastest growing companies and another for being one of the top Small Cap banks.
Belmont Savings Ranked in Fortune’s 100 Fastest Growing Companies
Belmont Savings Bank, a full-service Massachusetts savings bank serving the town of Belmont, MA and other surrounding towns, announced that it was ranked 41st on Fortune Magazine’s 100 Fastest Growing Companies List in 2017. The top 100 performers were ranked according to growth in revenues, profits, and stock returns over a three-year period and were chosen from over 3000 companies listed on U.S. exchanges.
This year, only five Massachusetts companies were named to Fortune magazine’s 100 fastest-growing companies list. Belmont Savings was the sole bank from New England to receive this recognition. It is one of only seven savings banks included in this highly selective list.
“It is an honor to be recognized by Fortune as one of the nation’s 100 fastest-growing companies,” said Bob Mahoney, president and CEO of Belmont Savings Bank. “Being featured on this list alongside companies like Facebook and Amazon validates the ongoing success of our growth-driven strategy, which continues to serve our customers, shareholders and community with distinction.”
The recognition from Fortune follows Belmont Savings’ recent inclusion as one of Sandler O’Neill Sm-All Stars, which identifies outstanding annual performance for small-cap banks and thrifts in the United States. The Sandler O’Neill Sm-All Stars Class of 2017 consists of only 29 institutions out of a universe of 404 publicly traded banks and thrifts with a market cap below $2.5 billion. Belmont Savings was included as the only Massachusetts bank to earn this recognition in the Class of 2017.
A more detailed description of Fortune Magazine’s methodology is provided below.
Fortune Magazine’s List Methodology
To be considered, a company—domestic or foreign—must be traded on a major U.S. stock exchange; report data in U.S. dollars; file quarterly reports with the SEC; have a minimum market capitalization of $250 million; and have been trading continuously since June 30, 2014. Companies must have posted an annualized growth in revenue and earnings per share of at least 15% annually over the three years. Companies that meet these criteria are ranked by revenue growth rate, EPS growth rate, and three-year annualized total return for the period ended June 30, 2017.
Bank Only Bank in Mass. to win Sm-All Star Award
Belmont Savings Bank, a full-service Massachusetts savings bank serving the town of Belmont, MA and other surrounding towns, announced it has received the prestigious 2017 Sandler O’Neill Sm-All Star Award for being a top performer among over 400 small-cap banks and thrifts across the country.
This year, Belmont Savings was the sole Massachusetts bank recognized for this award.
“Belmont Savings strives for consistent earnings performance and is proud to be amongst the fastest growing banks in the state,” said Bob Mahoney, president and CEO of Belmont Savings Bank. “Receiving this award from Sandler O’Neill is further acknowledgement that our strategy is effective in serving our customers, our shareholders and the community.”
The Sm-All Stars designation was inaugurated in 2004 by Sandler O’Neill + Partners– a prominent U.S. investment management firm– to identify outstanding annual performance for small-cap banks and thrifts in the United States. Performance metrics of Sm-All Star institutions are exceptional, markedly exceeding industry metrics. Companies are selected based on various financial screening criteria, including growth, profitability, credit quality and capital strength, and must have a market cap below $2.5 billion.
Belmont Savings had an earnings per share growth of 47.6% (nearly five times higher than the median); a loan growth of 22.4% (about two times higher than the median); a deposit growth of 16.3% (about twice as large as the median); and an ROAE of 8.8%.
The Sandler O’Neill Sm-All Stars Class of 2017 consists of only 29 institutions out of a universe of 404 publicly traded banks and thrifts with a market cap below $2.5 billion. Belmont Savings was included as the only Massachusetts bank to earn this recognition in the Class of 2017.