Profile: Cross River Bank

January 19, 2022 | What is the best performing bank in the US between $10 billion and $100 billion in total assets? Answer: Cross River Bank in Teaneck, NJ. Readers of the Premium Service of The Institutional Risk Analyst know Cross River for its role as the lender behind Upstart Holdings (UPST), which we profiled last month (“Update: Block Inc. & Upstart Holdings”). But we also are reminded of another small, volatile bank, Lehman Brothers FSB, which we described to readers of The IRA nearly 20 years ago. That outlier bank once featured 50% equity returns as the conduit for a subprime mortgage issuer, Lehman Brothers, but is no more. If we told you that Cross River Bank has grown 400% in the past three years, mostly on PPP loans and mostly funded with non-core deposits, would that dampen your enthusiasm? Just for giggles, below are the top-ten performing bank units in the $10 billion to $100 billion group:

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