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Overview / Commentary
3400 West Wabash
Springfield, IL 62711

Bank of Springfield is headquartered in Springfield and is the 58th largest bank in the state of Illinois. It is also the 907th largest bank in the nation. It was established in 1965 and as of March of 2014, it had grown to 237 employees at 9 locations. Bank of Springfield has a C+ health rating.

Reviews (1)

Do NOT Put Your Money Here

Bank of Springfield WAS a great bank until October 2011.  At that time they changed their online accounting software and the new program is terrible. It is difficult to use...not just for customers, but for employees, too. In two months, I experienced TWO deposit errors.  (previous 12 years...none). In spite of the tremendous hassle, I will be switching banks. 


Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Bank of Springfield had $14.4 million in non-current loans and owned real-estate with $70.05 million in equity and loan loss allowances on hand to cover it. This gives Bank of Springfield a Texas Ratio of 20.55% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Bank of Springfield increased slightly from 14.27% as of March 31, 2013 to 20.55% as of March 31, 2014, resulting in a negative change of 44.06%. This indicates that the balance sheet and financial strength for Bank of Springfield has declined slightly in recent periods.

Deposit Growth


In the past year, Bank of Springfield has increased its total deposits by $15.49 million, resulting in 2.44% 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 Bank of Springfield has shown is above average.



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. Bank of Springfield has $755.03 million in assets with $70.05 million in equity, resulting in a capitalization level of 9.28%, which is average.

Institution Statistics

FDIC Certificate #19506
Year Established1965
Primary RegulatorFDIC
Assets and Liabilities
Assets$755.03 million
Loans$576.12 million
Deposits$649.26 million
Equity Capital$63.98 million
Loan Loss Allowance$6.07 million
Unbacked Noncurrent Loans$9.63 million
Real Estate Owned$4.77 million
Historic Data - March 2013
Assets$732.97 million
Equity Capital$61.37 million
Loan Loss Allowance$6.77 million
Unbacked Noncurrent Loans$9.63 million
Real Estate Owned$1.09 million
Profit Margin - Quarterly
Return on Assets0.34%
Return on Equity3.98%
Interest Income$6.86 million
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Bank of Springfield CD Rates

1.31%$1k-5 Year CD
1.06%$1k-4 Year CD
1.02%$1k-42 Month CD
0.81%$1k-3 Year CD
0.56%$1k-2 Year CD
0.56%$1k-2 Year Rising Rate CD
0.41%$1k-18 Month CD
0.36%$10k-15 Month Flex CD
0.31%$1k-12 Month CD
0.16%$1k-6 Month CD
0.11%$1k-3 Month CD

Bank of Springfield IRA Rates

1.31%$2k-5 Year IRA
0.81%$2k-3 Year IRA
0.81%$250-3 Year Passbook TDOA
0.56%$2k-2 Year IRA
0.41%$2k-18 Month IRA
0.31%$2k-12 Month IRA
0.16%$2k-6 Month IRA

Bank of Springfield Locations
Quincy Branch1111 Maine StQuincy, IL 62301
Chatham Il Branch1140 Commercial Court, Suite AChatham, IL 62629
Jacksonville Branch1701 W. Morton AvenueJacksonville, IL 62650
Swansea Branch1717 North Illinois StreetSwansea, IL 62226
Shiloh Branch1770 Frank Scott Parkway EastShiloh, IL 62269
Stevenson Drive Branch2600 Stevenson DriveSpringfield, IL 62703
Jacksonville Branch303 W. CollegeJacksonville, IL 62650
Bank Of Springfield3400 West WabashSpringfield, IL 62711
Madison Street Branch850 East Madison StreetSpringfield, IL 62701