KBW Announces 2012 Bank Honor Roll Award Winners

  KBW Announces 2012 Bank Honor Roll Award Winners

 47 U.S. Banking Institutions Recognized for Exceptional 10-Year Track Record

Business Wire

NEW YORK -- April 15, 2013

KBW, a full-service, boutique investment bank and broker-dealer that
specializes in the financial services sector, and a wholly owned subsidiary of
Stifel Financial Corp. (NYSE: SF), today named 47 U.S. banking institutions to
its coveted “Bank Honor Roll” of superior performers.

Honor Roll winners are publicly traded banking institutions with more than
$500 million in total assets that meet the following three conditions:

  *No annual loss reported in net income per share before extraordinary items
    over the past 10 years;
  *2012 annual reported net income per share before extraordinary items equal
    to or greater than peak net income per share over the past 10 years; and
  *Consecutive increases in net income per share before extraordinary items
    since 2009.

KBW found that 47 banking institutions, out of nearly 400 total companies
screened, now qualify for inclusion on the KBW Bank Honor Roll; up from 45
institutions in the prior year.

A total of 14 new members made this year’s list: American National Bankshares,
Inc. (AMNB), Auburn National Bancorporation, Inc. (AUBN), BancFirst
Corporation (BANF), Brookline Bancorp, Inc. (BRKL), Cardinal Financial
Corporation (CFNL), Center Bancorp, Inc. (CNBC), Community Trust Bancorp, Inc.
(CTBI), Cullen/Frost Bankers, Inc. (CFR), Enterprise Bancorp, Inc. (EBTC),
Evans Bancorp, Inc. (EVBN), Heartland Financial USA, Inc. (HTLF), M&T Bank
Corporation (MTB),TowneBank (TOWN), and U.S. Bancorp (USB).

There are also 33 returning members that made this year’s list: 1st Source
Corporation (SRCE), Ames National Corporation (ATLO), Bank of Kentucky
Financial Corporation (BKYF), Bank of Marin Bancorp (BMRC), BOK Financial
Corporation (BOKF), C&F Financial Corporation (CFFI), Cass Information
Systems, Inc. (CASS), Century Bancorp, Inc. (CNBKA), CNB Financial Corporation
(CCNE), Commerce Bancshares, Inc. (CBSH), DNB Financial Corporation (DNBF),
Eagle Bancorp, Inc. (EGBN), ESB Financial Corporation (ESBF), First Financial
Bankshares, Inc. (FFIN), German American Bancorp, Inc. (GABC), Greene County
Bancorp, Inc. (GCBC), Hingham Institution for Savings (HIFS), Horizon Bancorp
(HBNC), JPMorgan Chase & Co. (JPM), Lakeland Financial Corporation (LKFN),
Monarch Financial Holdings, Inc. (MNRK), National Bankshares, Inc. (NKSH),
Northwest Bancshares, Inc. (NWBI), Oak Valley Bancorp (OVLY), Penns Woods
Bancorp, Inc. (PWOD), Prosperity Bancshares, Inc. (PB), Republic Bancorp, Inc.
(RBCAA), S.Y. Bancorp, Inc. (SYBT), Teche Holding Company (TSH), Texas Capital
Bancshares, Inc. (TCBI), UMB Financial Corporation (UMBF), Washington Trust
Bancorp, Inc. (WASH), and Wells Fargo & Company (WFC).

“The Bank Honor Roll is a way for KBW to acknowledge companies that have
managed to successfully navigate a variety of obstacles as they have arisen,
despite difficult conditions in what remains a rate-challenged environment,”
noted Frederick Cannon, KBW Director of Research. “Despite 2012’s uneven
economic recovery and fiscal uncertainty, these Honor Roll banks managed to
post healthier balance sheets through active liability management and also
benefited from improving fundamentals as credit quality significantly

In terms of stock price performance, Bank Honor Roll companies significantly
outperformed both the banking industry and the overall stock market during the
five-year period between 2007 and 2012.

With average price appreciation of 4.5% compounded annually, the KBW Honor
Roll banks outperformed the KBW Bank Index (BKX) and the KBW Regional Banking
Index (KRX) five-year compounded annual growth rates of -10.4% and -6.4%,

The Honor Roll banks also meaningfully outperformed the S&P 500 (SPX) return
of -0.6% over the equivalent time period.

About KBW

KBW, Inc., a Stifel company, operates in the U.S. and Europe through its
broker dealer subsidiaries, Keefe, Bruyette & Woods, Inc. and Keefe, Bruyette
& Woods Limited. Over the years, KBW has established itself as a leading
independent authority in the banking, insurance, brokerage, asset management,
mortgage banking and specialty finance sectors. Founded in 1962, the firm
maintains industry-leading positions in the areas of research, corporate
finance, mergers and acquisitions as well as sales and trading in equities
securities of financial services companies.


Intermarket Communications
Neil Shapiro, 212-754-5423
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