2.5 star ratingAverage User Rating:
2.5 star rating based on 3 reviews.

Archer Bank

Archer Bank Locations
4970 South Archer Avenue
Chicago, IL 60632
773-838-3000
www.archerbank.com

FDIC


Archer Bank is headquartered in Chicago and is the 84th largest bank in the state of Illinois. It is also the 1,373rd largest bank in the nation. It was established in 1962 and as of December of 2012, it had grown to 168 employees at 20 locations. Archer Bank has a 1-star health rating.

Archer Bank Routing Number: 071004530



See Rates for: Checking | Savings | Money Market | CD | IRA

Archer Bank Checking Account Rates

ApyMinMaxProduct
0.01%$2,500-High Interest Checking
0.01%$2,500-Prime Life Checking

Archer Bank Savings Account Rates

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0.05%$1k-Golden Statement Savings
0.05%$1k-Golden Passbook Savings
0.05%--Holiday Club
0.05%--IRA Savings
0.01%--Health Savings
0.01%$200-Statement Savings
0.01%$200-Passbook Savings

Archer Bank Money Market Rates

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0.05%$10k-High Yield Money Market
0.01%$2,500-Money Market

Archer Bank CD Rates

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0.05%$500-6 Month CD
0.05%$500-1 Year CD
0.05%$500-18 Month CD
0.05%$500-2 Year CD
0.05%$500-3 Year CD
0.05%$500-4 Year CD
0.05%$500-5 Year CD
0.05%$1k-91 Day CD
0.05%$20k-7-31 Day CD

Archer Bank IRA Rates

ApyMinMaxProduct
0.05%$500-IRA 18 Month CD

Rates updated: 5/23/2013

Data for Q4 2012


Institution Statistics


Archer Bank
FDIC Certificate #18625
BankRate ReportView
Year Established1962
Employees168
Primary RegulatorFDIC

Assets and Liabilities

Assets$486.35 million
Loans$239.11 million
Deposits$464.19 million
Equity Capital$18.54 million
Loan Loss Allowance$12.63 million
Unbacked Noncurrent Loans$48.00 million
Real Estate Owned$30.97 million

Historic Data - December 2011

Assets$577.77 million
Equity Capital$49.98 million
Loan Loss Allowance$18.80 million
Unbacked Noncurrent Loans$57.75 million
Real Estate Owned$18.75 million

Profit Margin - Quarterly

Net Interest Margin3.59%
Return on Assets-5.82%
Return on Equity-76.54%
Interest Income$18.63 million

Institution Health


Overall Score:
1 out of 5
1
Texas Ratio1
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2012 Archer Bank had $78.97 million in non-current loans and owned real-estate with $31.17 million in equity and loan loss allowances on hand to cover it. This gives Archer Bank a Texas Ratio of 253.37% which is poor. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend2
The Texas Ratio for Archer Bank increased slightly from 111.21% as of December 31, 2011 to 253.37% as of December 31, 2012, resulting in a negative change of 127.82%. This indicates that the balance sheet and financial strength for Archer Bank has declined slightly in recent periods.
Deposit Growth1
In the past year, Archer Bank has decreased its total deposits by -$61.16 million, resulting in -11.64% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Archer Bank has shown is poor.
Capitalization2
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Archer Bank has $486.35 million in assets with $31.17 million in equity, resulting in a capitalization level of 6.41%, which is below average.
Write Review

[Name Removed], Area Manager Illinois
1 stars - miller0711 - Thursday, September 16, 2010 - 4:24 PM

This is by far the worse manager ever in bank history. ([Name Removed])  He works at the archer bank at archer and pulaski, I incountered service charges from a situation that was out of my control. My branch in Burbank was nice enough to hellp me out with some fees like $96. out of $400. The best they can do, well Archer bank didn't pay out a penny, it was all service charges due to a billing problem with Xsport fitness.  My branch knows I have a 11 year old boy that is being treated with bone narrow cancer and everyday is a struggle, I live paycheck to paycheck and sometimes its hard putting food on the table. This manager [Name Removed], goes into my account and reverses the fees right before he knows my little paycheck was going in. If thats not crooked I don't know what is.. Stay away from this bank, I will be going to the media on this guy..   Then when I try to contact him, by phone, visiting branch and emails hes no where to be found!  I feel sorry for this guy when he has to answer to god! 

7

George V. Karavitis, Area Manager Illinois
5 stars - HappyCustomer - Tuesday, January 11, 2011 - 2:05 PM

As a long-time banking customer, I am very picky about where I will do my banking.  Banking is fundamentally a customer service-oriented profession, and a bank whose employees put the needs of their customers first will always have my business.  As a long-time bank customer (and as someone who deals with banks not only personally but through my work), I know good banking employees from those who are not so good.  And my personal experience has been that George V. Karavitis of Archer Bank in Chicago, IL, exhibits the highest level of professionalism toward his bank customers.  This particular manager stands out not only by the way he steps up to the plate to quickly and accurately resolve all customer issues, but also by the fact that he inspires confidence from all of his subordinates.  I personally witnessed a time when an irate customer was raising her voice to a bank teller, only to see George V. Karavitis quickly step forward and resolve the situation almost immediately. And George V. Karavitis of Archer Bank in Chicago, IL, has always demonstrated to me that he not only maintains a supreb customer service orientation, but that his knowledge of banking rules and regulations is unparalled.  Chatting with him about interest rates and the economy is an unbelievable experience.  He also has a graceful way of communicating with people that puts one at ease.  In short, I feel that it's important to acknowledge people who do their best and exhibit the highest levels of professionalism.  From my own personal experience, I can say without any doubt or hesitation that you may have the utmost confidence in George V. Karavitis of Archer Bank, Chicago, IL.  Thank you.

3

Satisfaction
1 stars - unsatisfied - Friday, April 1, 2011 - 9:45 AM

I go to Archer Bank becasue it is close to my home and I have direct deposit and don't want to be bothered changing it.  I'm not so happy about customer service.  I opened a college savings plan with a knowledgeable rep.  I wanted to add more money to this account but was unsure how to.  I contacted the bank and they said the rep was no longer with them and they haven't hired a new one.  No answer as to a time line when a new one would be hired.  They gave me a number and name of a woman to conatct.   I left three messages with her, no return calls.  I called my local branch and they said they would follow up.  No call.  The website is also down quite often.  I called to confirm that it was their site and not my computer and the girl answering was by no means rude but unprofessional.  There wasn't an answer to why it was down and when it would be up.  A lot of seemingly uneducated personnel.  When we 1st started banking there, a young woman named Margaret was very helpful and tended to our banking needs.  She left years ago and nobody seems to have filled those shoes. 

1