America’s largest banks echoed the U.S. economy in 2021, rebounding to a strong position following the upheaval and disruption of Covid-19 that continues to spread but with less disruptions to daily life.
The banking industry will be closely watching Federal Reserve Board Chairman Jerome Powell as he and the Fed follow through on plans to hike interest rates numerous times in 2022.
America’s banks were on the frontlines of that robust pandemic response, helping facilitate forgivable loans for mom-and-pop businesses across the country through the Paycheck Protection Program. That federal response not only saved many Main Street businesses but also allowed the damage to banks to be limited to only four bank failures.
The more than 5,000 banks and saving institutions in the United States that have survived the past couple years are now in position to thrive as pent-up demand and a full reopening of the global economy press on.has worked with S&P Global Market Intelligence for 13 years on its America’s Best Banks ranking.
Ontario, California-based CVB Financial, the parent company of Citizens Business Bank, was ranked fourth on the list after having been the top-ranked bank over the past two years.
Glacier Bancorp’s strong year was partially powered by a sizable acquisition, bringing in Altabancorp, the parent company of American Fork, Utah-based Alta Bank, which was the largest acquisition in company history and brought along more than $4 billion from the largest community bank in Utah.
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