With a 1,835 percent growth rate over the last five years, Reston-based John Marshall Bank was ranked as the fastest growing bank in the state in a list compiled by BestCashCow.
According to the report, between 2007 and 2012, John Marshall’s assets have grown totaling more than $484.5 million at the end of the second quarter this year.
“Our success and continued growth is directly attributable to the experience and market knowledge of our bankers,” Bill Ridenour, president of John Marshall Bank said in prepared statement. “The bank’s asset quality, strong capital position, competitiveness of its product offerings and personal attention to each customer also contribute to our steady stream of new business opportunities.”
While based in Reston, Marshall Bank has five full-service branches in Reston, Falls Church, Leesburg, Arlington, and Rockville. They also have a limited service commercial branch in Washington, D.C., and a loan production office in Alexandria.
“Despite the pressure of low interest rates, many small and community-based banks are thriving,” said Sol Nasisi, president of BestCashCow said in the announcement. “Banks like John Marshall are able to do so because they have the right formula to succeed in today’s economy. They have well-defined markets, entrepreneurial cultures and solid balance sheets and at the end of the day, success breeds success. As these banks continue to grow and effectively compete in their local markets, more and more consumers are looking to them for their next mortgage, business loan or credit card.”
BestCashCow is a comprehensive resource for the best rates on savings accounts, bonds, mortgage rates and more. Founded in 2005, BestCashCow tracks more than 7,000 FDIC-insured banks, 7,000 credit unions, 130,000 local branches, and more than 2 million local and national rates on checking and savings accounts, mortgages, bonds, dividend stocks and home equity loans and lines of credit.
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