I have often mentioned that I need to compare UBT’s financial results to the results of other similar sized banks. As it turns out, the government already does this.
At www.fdic.gov, you are able to download a spreadsheet of the bank you’re interested in. What happens is that the FDIC aggregates all the financial data coming from each bank each quarter. It then generates statistical data and compares each bank to similar sized banks.
I recently downloaded United Bank and Trust’s Q2 comparison sheet from the FDIC. In the next day or so I’ll show the link and make the spreadsheet available for you to download if you’re interested.
In general, the bank seems right at the median for most categories except for a few, and I’ve harped on these areas for several months now. Basically, United Bank and Trust is not competitive in Loan loss expense and administrative expense. I don’t remember the exact numbers, but I will find them and post them soon.
So the FDIC already generates a United Bank and Trust Financial Comparison analysis, and it’s just up to us to find it, read it and understand it. I’ll post the information soon, and hopefully you’ll find it useful.