This local bank was named a top-performing community bank in the US

Baton Rouge-based Currency Bank has been recognized as one of the nation’s Top 100 community banks with under $3 billion in assets, according to S&P Global’s latest ranking of top-performing banks. 

The bank secured the No. 74 spot on the list. It operates in Baton Rouge, Oak Grove, and Eudora, Arkansas, and currently holds approximately $200 million in assets.

“I was very pleasantly surprised,” said Scott Gaudin, president and CEO of Currency Bank. The S&P is such a well-known publication, and seeing your name on it is kind of surreal, especially considering we’re a fairly small bank by most standards.”

Over the past three years, Currency Bank has seen a 64.5% increase in revenue, growing from $60 million in assets in 2021. The bank relocated its headquarters from Oak Grove to Baton Rouge in January.

“We’ve got about 150 total shareholders and the majority of them are in the Baton Rouge metro area,” Gaudin says. “In addition, all of our C-suite is here.” 

The bank is set to expand further with the acquisition of b1BANK’s Kaplan branch, a move that will add approximately $50 million in assets.

Currency Bank and b1BANK reached an agreement on the acquisition in December for an undisclosed amount. Gaudin said they are hopeful the deal will close in April. The Kaplan branch held $55.1 million in deposits as of June 30.

Currently, Currency Bank operates with 25 employees across its locations and is expected to add around five employees once the Kaplan branch opens.

Originally founded in Oak Grove, the bank was acquired by a group of Baton Rouge investors in 2021. Following the acquisition, it rebranded as Currency Bank and expanded into the Baton Rouge market. Gaudin, one of the bank’s founders, was named president and CEO in July.