First International Bank & Trust (FIBT), headquartered in Watford City, North Dakota, has been ranked sixth on American Banker’s list of the 20 top-performing banks with assets between $2 billion and $10 billion. This marks the third consecutive year that FIBT has appeared on this national ranking, improving its position by four spots from the previous year.
The rankings are based on three-year return on average equity. According to American Banker, institutions recognized in the top 20 also reported stronger net interest margins, more efficient operations, and higher returns on average assets compared to their peers within the same asset range.
“It’s a significant honor to be recognized as one of the best-performing banks of our size in the nation,” said S. Peter Stenehjem, CEO of First International Bank & Trust. “First International Bank & Trust has spent 115 years working diligently to help our customers and communities thrive, and this distinction from American Banker is a reflection of that hard work! We take great pride in the way we do business, and the positive outcomes we help our friends and neighbors achieve.”
“Our inclusion on American Banker’s list of high-performing banks sends a clear message: that relationship-based community banking is the right way to do business,” said Stephen L. Stenehjem, FIBT’s Board Chairman. “I am proud of our hard-working employees, grateful for our loyal customers, and more optimistic about the future of our organization than ever.”
FIBT operates as a full-service independent community bank under Watford City Bancshares, Inc., which is owned by the Stenehjem family. The bank was founded in 1910 and currently serves customers through branches located in North Dakota, South Dakota, Minnesota, and Arizona. More information about First International Bank & Trust can be found at FIBT.com.
