A new bank soars into the ranks of the elite

In the United States, there are more than 500 commercial banks that have assets of at least $1 billion – that's a mere 8 percent of banks in the industry, according to the Federal Deposit Insurance Corporation. The most recent bank to be included into those ranks is Green Bank, N.A. of Houston, Texas, which increased their assets to more than $1 billion this year. President and CEO of Green Bank, Geoff Greenwade, told the news source he relished the present accomplishments but was focused on further building the bank's revenue. "We are pleased with this milestone and continue to work organically and through acquisition toward our long-term goal of $3 to $5 billion in assets," he said. "Our ability to put new deposits immediately to work has fueled our five-year growth from $230 million to $1 billion in assets; this aligns with our parallel goal to support Texas businesses and the communities in which we operate." Of the 6,453 commercial banks in the U.S., approximately 3,600 have assets under $1 billion, the FDIC reports.