The top-performing midsize banks in the U.S. navigated the high interest rate environment of 2023 better than their peers, keeping expenses in check while growing loans at a steady clip.

The top 10 banks — out of 86 with between $10 billion and $50 billion of assets — generated stronger profits than the group overall last year, according to Capital Performance Group. CPG compiles the rankings that are published annually by American Banker. The consulting firm bases the list on each institution’s average three-year return on average equity between 2021 and 2023. Overall, the firm used year-end 2023 data.

CPG analysts Ally Akins and Claude Hanley told American Banker that the top 10 generated an average three-year ROAE of 17.44% versus 10.39% for this segment of the industry overall. They said that, while the group overall saw costs increase, the highest-ranked banks contained noninterest expenses.

Read the article and see the full rankings on American Banker.