Chan Patel Founded Bank is Top Community Bank in U.S.!

The bank founded by Chan Patel, the State Bank of Texas, headquartered in Dallas has been designated as the highest-ranking community bank out of over four-thousand community banks in the United States, standing out from the crowd due to an excellent ROAA (Return On Average Assets) of 5.1% and an equally enviable ER (Efficiency Ratio) of 24.4%.

15 Best Run Community Banks, based on ROAA and Efficiency Ratio for 2014 | Chan Patel, Founder

 The State Bank of Texas was declared the #1 Community Bank in the U.S. this month by Sageworks, a financial information company founded in 1998 in a business incubator in
the Research Triangle Park, North Carolina. Sageworks provides financial analysis solutions, industry data, and risk management solutions for private company chief financial officers, accountants, and for banks.

To create the ranking list of the 15 Best Run Community Banks in the United States by Return-on-Average-Assets and Efficiency Ratio, Sageworks evaluated the total list of American banking institutions that have total assets between $100 million and $10 billion as of the end of June, 2014, a set that includes about 4,566 banks. Sageworks then scored these institutions according to two key metrics of a well run bank – the return on average assets (ROAA) and the efficiency ratio. In order to make the top 15 highlighted list, a bank must be within the top 5% of ROAA and efficiency ratios. ROAA is then calculated to decide the rankings of the top 15 (for example, using this method, a bank with highest ROAA numbers of any community's bank would achieve presence in the number one slot on the list, as long as that institution's efficiency ratio was also in the top 5% of all community banks).

Chan Patel, who grew up in Mumbai, India, founded the State Bank of Texas (S.B.T.) after already maintaining a highly successful career in the hotel accommodations industry. The State Bank of Texas is operated by Chan Patel and his sons, continuing a long tradition of financially conservative management and investment in immigrant-founded businesses displaying the same entrepreneurship and efficiencies of Patel's own past accommodations businesses.