In May, Independent Banker, the flagship publication of the Independent Community Bankers of America (ICBA), published its annual list of the “Best-performing Banks 2024,” which includes 10 banks based in Texas.

According to a press release from Independent Banker, “These community banks hit their stride in 2024, and they intend to keep the momentum going with hard work, flexibility and the expertise they’ve built over their years of service.”

Dallas-based State Bank of Texas topped the list of banks with more than $1 billion in assets, as it did in 2023. State Bank of Texas was established in 1987 by hotelier Chan Patel and continues to be owned and operated by the Patel family, with Chan Patel (father) serving as CEO and chairman of the board, Sushil Patel (son) as president and Rajan Patel (son) as chief lending officer and executive vice president. It is the largest Indian-American-owned bank in the U.S.

ICBA compiled this year’s rankings to recognize community banks that are consistently high performers. Using FDIC data, ICBA took into account pretax return-on-assets (ROA) figures from the past three years, with the most recent year weighted at 3 times, the second most recent year at 2 times and the third most recent year at 1 time. It then divided the community banks into three broad segments based on asset size and ranked each segment based on a three-year weighted average ROA. A bank must have a rating of C or higher by KBRA Analytics to be considered for ranking.

Texas-based “Best-performing Banks” with assets less than $300 million (of 25 listed)

No. 14: The Cowboy Bank of Texas, Maypearl, 2.869 pretax ROA (three-year weighted)

No. 18: The First National Bank of Eldorado, Eldorado, 2.736 pretax ROA (three-year weighted)

No. 24: The First State Bank, Abernathy, 2.542 pretax ROA (three-year weighted)

Texas-based “Best-performing Banks” with assets between $300 million and $1 billion (of 25 listed)

No. 19: The National Bank of Andrews, Andrews, 2.69 pretax ROA (three-year weighted)

No. 22: Plains State Bank, Humble, 2.582 pretax ROA (three-year weighted)

Texas-based “Best-performing Banks” with assets more than $1 billion (of 25 listed)

No. 1: State Bank of Texas, Dallas, 4.849 pretax ROA (three-year weighted)

No. 3: Wallis Bank, Wallis, 3.825 pretax ROA (three-year weighted)

No. 13: Community National Bank, Midland, 2.532 pretax ROA (three-year weighted)

No. 16: Citizens National Bank of Texas, Waxahachie, 2.46 pretax ROA (three-year weighted)

No. 22: Texas Community Bank, Laredo, 2.337 pretax ROA (three-year weighted)