5 NJ BANKS MAKE SANDLER O’NEILL “SM-ALL STAR” TEAM
By Richard Newman/The Record
September 27, 2011
New Jersey had five banks this year on Sandler O’Neill & Partners’ annual list of 25 “Sm-All Star Banks,” which, in the New York City-based investment bank’s view, are the highest-performing publicly traded banks and thrifts with less than $2 billion in market capitalization.
The banks are Bancorp of New Jersey in Fort Lee, Investors Bancorp in Short Hills, Oritani Financial Corp. in Washington Township, Peapack-Gladstone Financial Corp. in Bedminster and Valley National Bancorp in Wayne.
The analysis of 486 banks nationwide is prepared for bank investors and focuses on growth, profitability, credit quality and capital strength.
Most of the top performers are from Northeastern and mid-Atlantic states, where the economies have held up better than in other parts of the country, the reports said. New Jersey had more banks on the list than any other state, followed by Massachusetts, which had four.