SIOUX FALLS, SD (February 9, 2011) Great Western Bank had a very successful year in 2010. Our financial results are reflective of a bank that continues to grow, even under the worst economic environment since the Great Depression. Our vision is to become one of the leading banks in the Midwestern United States through our commitment to organic growth and strategic acquisitions. We will continue this vision into 2011. Some highlights of 2010 include:
- Total assets of $8.3 billion and total capital of over $1.2 billion as of September 30, 2010, according to U.S. GAAP accounting standards.
- Great Western Bank has maintained a “Well Capitalized” status for over a decade. As of September 30, 2010, our total risk-based capital ratio of 12.61% well exceeded the minimum level required for this distinction.
- To make banking more convenient for our customers, we doubled our accessibility to 193 branch locations.
- We expanded our network to over 20,000 surcharge free ATMs nationwide.
- We are 2nd in deposit share in the state of South Dakota, 3rd in Nebraska and 6th in Iowa.*
- Our parent company, National Australia Bank Limited (NAB), is one of 10 banks worldwide to hold the distinguished AA credit rating.**
- Our Return on Tangible Equity (ROE) is nearly double than that of our peers in the same category.*
- Great Western Bank is in the top 100 largest banks in the united States as measured by total deposits, a first for us in this category.*
- We are the 7th largest agribusiness bank in the U.S.***
- Great Western Bank gave over $641,000 in donations and sponsorships to non-profit entities and charities within our community footprint.
- We continue to manage our risk effectively in otherwise unfavorable economic conditions.
In the past 10 years, Great Western Bank has gone from being a small local bank to a regional player, with prominent market share throughout our regional footprint. In 2010, we grew our assets by over 59% and expanded our footprint to include 72 new branches through our strategic acquisitions of F&M Bank and TierOne Bank. But we haven’t lost sight of our basic principles — doing what is right for our customers while continually giving back to the communities we serve. We are proud of our employees and the time and leadership devoted to making their communities great.
Read our full 2010 annual report.
*Source: FDIC, 6/30/10. Duplicate IDs consolidated.
**Source: Standard and Poor’s, 11/29/10
***Source: FDIC, 9/30/10