Providence Bank ranked as a top community bank

ROCKY MOUNT — Providence Bank is included in S&P Global Market Intelligence's 2022 "Top 100 Community Banks with Less than $3 Billion in Assets" out of 3,782 eligible banks in the analysis.

President and CEO Ted E. Whitehurst announced the ranking in a Tuesday news release. The Rocky Mount-based bank is a wholly owned subsidiary of holding company PB Financial Corp.

S&P Global Market Intelligence, a division of S&P Global, launched the rankings in 2011 to assess the performance of community banks and credit unions. The organization ranks institutions based on returns, growth and efficiency and places a premium on the strength and risk profile of balance sheets.

"We are excited to be recognized by S&P Global Market Intelligence for our performance," Whitehurst said. "To be ranked in the top 100 of similar-sized U.S. community banks is an honor and speaks to the hard work and dedication of our employees and directors. In 2022, we had record earnings enabling us to enhance shareholder value, which is part of our long-term strategic plan."

S&P Global Market Intelligence is a provider of information services and solutions to the global markets.

PB Financial Corp. is headquartered at 450 N. Winstead Ave. in Rocky Mount. Providence Bank operates branches in Rocky Mount, Tarboro, Nashville, Wilson and Raleigh.

As of Dec. 31, the bank's holding company had total assets of $849.2 million, loans of $687.7 million and deposits of $674.0 million, according to the release.