Bancography ranks financial institution brands in its 2008 Bancography Brand
Value Index.
BIRMINGHAM, Ala., July 7 /PRNewswire/ -- Among the nation's largest
institutions (banks with assets of at least $30 billion), Wells Fargo holds
the most powerful brand in the United States, followed by U.S. Bank, Northern
Trust, Union Bank, and PNC. Among mid-sized institutions (assets $2B - $30B),
leading brands include Woodforest National Bank (TX), Westamerica Bank (CA),
City National Bank (CA), City National Bank of West Virginia and Nevada State
Bank (note the two City National Banks are separate, unrelated institutions).
Bancography, a financial services consulting firm, announced these
findings in the release of its 2008 Bancography Brand Value Index, a
comprehensive ranking of all U.S. bank and credit union brands. The index,
which also includes categorical rankings by asset size, market area and
institution type, ranks brands by the premium they contribute to each
financial institution's underlying tangible value.
In calculating brand value, Bancography quantifies the proportion of each
institution's long term value that is attributable to the intangible factors
that constitute an institution's brand. These factors include the
institution's reputation, service quality, image and market awareness. The
brand value index identifies institutions that produce financial results
beyond what their capital base, market conditions, and competitive
environments would predict.
The top ranking major bank brands:
Assets > $30 billion Assets $2 billion - $30 billion
1. Wells Fargo Bank (MN) 1. Woodforest National Bank (TX)
2. U.S. Bank (MN) 2. Westamerica Bank (CA)
3. The Northern Trust Company (IL) 3. City National Bank (CA)
4. Union Bank of California 4. City National Bank of West
5. PNC Bank (PA) Virginia
6. Manufacturers and Traders 5. Nevada State Bank
Trust Company (NY) 6. First Interstate Bank (MT)
7. Comerica Bank (TX) 7. S&T Bank (PA)
8. Bank of America (NC) 8. The Frost National Bank (TX)
9. Branch Banking and Trust Company 9. Commerce Bank (MO)
(NC) 10. Amarillo National Bank (TX)
10. JPMorgan Chase Bank (NY)
Smaller banks with leading brands include First National Bank of Texas,
Armed Forces Bank (KS), and The Citizens Bank (NM).
Mountain America Credit Union (MT), Arrowhead Credit Union (CA) and JSC
Credit Union lead the rankings of large credit unions (assets of at least $1
billion). Top ranking small credit unions include ASI Federal Credit Union
(LA), Trona Valley Community Credit Union (WY) and First Community Credit
Union of Houston.
The leading brands show consistently strong earnings performance and the
ability to grow deposits without paying above-market rates. John Mathes,
Bancography's director of brand strategy notes, "In the banking industry,
product offerings are often very similar among competitors, so it is paramount
for financial institutions to build differentiating brands." Mathes adds,
"The Bancography Brand Value Index measures which institutions have
successfully differentiated themselves, in terms of image, service quality and
the other intangible factors that bond consumers to their financial
providers."
Bancography, based in Birmingham, Alabama, provides consulting services
and software tools to financial institutions in support of their branch,
research, product and brand positioning strategies. To help institutions
position themselves in the marketplace, Bancography's brand strategy service
creates names, logos, identities and brand positions that distinctly reflect
each institution's product and service proposition.
For the complete list of leading institutions, or for any questions about
the Bancography Brand Value Index, contact Laura Levie at (205) 252-6671 or
visit www.bancography.com
SOURCE Bancography
Laura Levie, +1-205-252-6671, laura@bancography.com, of Bancography
