IBC Bank ranked # 1 among the Best Forbes Banks in Texas


IBC Bank recently received top marks in Texas and an additional high rating in Oklahoma when Forbes announced its fourth annual list of Best-in-State Banks and Credit Unions.

IBC and its 3,000 employees ranked first in the evaluation in Texas and third in Oklahoma.

The company based in Laredo was founded in 1966.

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Forbes featured 135 companies that qualified for the list of the best banks out of the 4,978 FDIC-insured banks in the US that were considered. Each state had between one and five banks listed, which gave them a best-in-state rating regardless of their overall ranking in that actual state.

These banks were able to qualify on the basis of market research by Statista, which customers gave their banks the best ratings.

According to Forbes, nearly 25,000 US customers were surveyed about current and past banking relationships. The customers were asked 20 questions.

The rating system included general recommendations and satisfaction, as well as five sub-categories: trust, terms and conditions, branch service, digital services and financial advice.

Forbes also said national financial institutions with offices in at least 15 states were excluded from the final ranking. These included Bank of America, JPMorgan Chase Bank, PNC Financial, US Bank, Truist Financial, and Wells Fargo. Navy Federal Credit Union was the only credit union eliminated for this reason.

IBC was one of five Texas banks listed in the Forbes rating.

Others included were USAA, First Financial Bank, Comerica, and Cullen / Frost Bankers.

Among the winners in Texas, USAA had the most employees at 16,882 while First Financial had the least at 1,449. Comerica and Cullen / Frost had 6,902 and 4,659, respectively.

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USAA and Cullen / Frost are each headquartered in San Antonio. First Financial is based in Abilene and Comerica in Dallas.

IBC was also the youngest bank on the list, with USAA (1922) being the only other company to be formed in the past 100 years. First Financial was founded in 1890, Cullen / Frost in 1868 and Comerica in 1849.

Meanwhile, in Oklahoma, IBC Bank was among the group of five winners that took third place. It was behind the City National Bank and Trust and the Bank of Oklahoma and ahead of the American Nation Bank and Armstrong Bank.

IBC was the only one on the list with an out-of-state headquarters, as the City National Bank and Trust is based in Lawton, the Bank of Oklahoma in Tulsa, the American Nation in Ardmore, and the Armstrong Bank in Muskogee.

Rankings were not included to determine ranking at the national level because Forbes did not disclose each company’s total score. However, it was said that the highest scoring bank was First Bank Kansas with an overall odds of 94.13.

Forbes also revealed how banks in several states have fared.

Forbes said Citizens Financial Group and Huntington Bancshares were the top performing banks in several states with five awards each. Citizens Financial was founded in Providence, Rhode Island, while Huntington is based in Columbus, Ohio.

The banks that received three awards included Arvest Bank, BBVA, Citibank, Fifth Third Bank, and South State Bank.

IBC was part of the group with two Best-in-State awards along with BancorpSouth, Banner Bank, Capital One, Fulton Bank, Great Southern Bank, Peoples Bank, Renasant Bank and Washington Trust Bank.

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