CLARKSTON, Mich., Aug. 5, 2014 (GLOBE NEWSWIRE) -- Clarkston State Bank (OTCBB:CKFC) has been recognized as the #3 Community Bank in the United States by the nationally-recognized American Banker Magazine.
As their reporter Bonnie McGeer wrote, "It's getting tougher to earn a spot in our annual ranking of publicly-traded banks with less than $2 billion of assets." To make the list, Clarkston State Bank had to post a three-year average ROE (return on equity) of 8.66% or higher. Clarkston State Bank's three-year average ROE was 18.07%. Out of the 200 banks on the list, Michigan had 9 banks listed with Clarkston State Bank rated the highest on the national list at #3.
"It is an honor to see our customers, investors and staff recognized at a national level," says J. Grant Smith, Clarkston State Bank President and CEO. "For many years, we have all worked together to sustain a community-based bank and provide an environment of excellence for our customers, stockholders and staff. We are humbled, yet so proud, of this national achievement."
About Clarkston State Bank
Clarkston State Bank opened in January 1999 and operates four branches in Clarkston, Waterford, and Independence Township, Michigan. The core tenets of Clarkston State Bank are commitment to customers and a stellar focus on community.