Where The Money Is

New Mexico Business Journal, Sept, 2000

Banking is a good business, if numbers mean anything. At last count, the U.S. hosts 10,157 commercial banks, savings banks and S&Ls. In the first quarter of this year, they posted a record profit of $22.5 billion, thanks mostly to the vigorous economy. Some banks, of course, did better than others, according to Weiss Ratings, Nationally, for example, Citibank, Mellon Bank, First Union and Key Bank showed the largest year-to-year increase in net income.

In New Mexico, the top performing banks, in order, were First National Bank, Alamogordo; Ranchers Bank, Belen; First New Mexico Bank, Deming; Citizens Bank, Tucumcari, and First National Bank, Ruidoso. Small banks, to be sure, but every one of them gets a Weiss rating of "A."