SNL Financial Releases Annual Performance Ranking of Top Thrifts

Washington Federal edges out Severn and Hudson City to top this year's list

Washington Federal Inc. topped SNL Financial's annual performance ranking of the 100 largest thrifts, with Severn Bancorp and Hudson City Bancorp rounding out the top three. The Seattle-based thrift achieved the highest return on average assets (1.35%) as well as the strongest efficiency ratio (23.60%) during 2007, propelling it ahead of the competition.

Rank Company Ticker State Score

1 Washington Federal Inc. WFSL WA 85.4
2 Severn Bancorp Inc. SVBI MD 84.4
3 Hudson City Bancorp Inc. HCBK NJ 83.6
4 Flushing Financial Corp. FFIC NY 83.2
5 New York Community Bancorp Inc. NYB NY 82.6
6 FirstFed Financial Corp. FED CA 81.2
7 Timberland Bancorp Inc. TSBK WA 80.0
8 HMN Financial Inc. HMNF MN 78.8
9 Parkvale Financial Corp. PVSA PA 77.9
10 Pulaski Financial Corp. PULB MO 77.4

For the entire list of the best of the biggest - the 100 largest public thrifts by asset size, ranked by financial performance for FY 2007 - go to:
http://www.snl.com/interactivex/article.aspx?CDID=A-7732231-12900

SNL Financial analyzed the performance of the 100 largest thrifts by asset size, ranking each in six categories and weighting each ranking to determine an overall score. The following four categories received a 20% weighting: Core return on average assets; core return on average equity; three-year compound annual growth in tangible book value; and efficiency ratio. The ratio of nonperforming assets and loans 90 days past due to total assets and net charge-offs as a percent of total loans were each weighted at 10%.

Many thrifts experienced declines in the rankings due to the crisis in the mortgage and housing markets. IndyMac Bancorp, PFF Bancorp, Washington Mutual, Downey Financial and Federal Trust were among the hardest hit.

'The stand-out thrifts of 2007 were those that maintained a conservative balance sheet and kept expenses low,' said Maria Tor, senior analyst for SNL. 'Thrifts that resisted the tempting high margins of riskier loans in 2005 and 2006 were rewarded in 2007.'

Bank & thrift data, news and analysis are a standard part of the SNL Unlimited Information Service for Financial Institutions. To learn more about SNL Unlimited, contact sales@snl.com or call 866.296.3743. 

About SNL Financial

SNL collects, standardizes and disseminates all relevant corporate, financial, market, and M&A data - plus news and analysis - for the Banking, Financial Services, Insurance, Real Estate, Energy and Media & Communications industries. For more information, visit www.SNL.com.

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mjenkins@snl.com

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