First Federal Savings Bank (IL)
First Federal Savings Bank (IL) is headquartered in Ottawa and is the 112st largest bank in the state of Illinois. It is also the 1,762nd largest bank in the nation. It was established in 1889 and as of September of 2013, it had grown to 115 employees at 12 locations. First Federal Savings Bank (IL) has a B health rating.
Overdraft Issue
A company made an unauthorized and unpermitted charge from my account which made the chaecking account overdrawn, I made the bank aware of it, but they just kept charging me overdraft fees, as more charges came through, lost $150.00 in a matter of hours, and was told it is "automatic", it is really dayrape, as the original ACH was not my fault at all, the company reversed the unaothorized charges but this Bank did not, I reported this situation to the BBB and the FTC, and will close all accounts accociated with this bank, including all the people I know having accounts with this bank, its just not fair!
Data for Q3 2013
Institution Health
Texas Ratio
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 September 30, 2013 First Federal Savings Bank (IL) had $7.04 million in non-current loans and owned real-estate with $39.1 million in equity and loan loss allowances on hand to cover it. This gives First Federal Savings Bank (IL) a Texas Ratio of 18.01% 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 First Federal Savings Bank (IL) decreased dramatically from 27.84% as of September 30, 2012 to 18.01% as of September 30, 2013, resulting in a positive change of 35.30%.This indicates that the balance sheet and financial strength for First Federal Savings Bank (IL) has improved dramatically in recent periods.
Deposit Growth
In the past year, First Federal Savings Bank (IL) has decreased its total deposits by -$11.92 million, resulting in -3.5% 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 First Federal Savings Bank (IL) has shown is below average.
Capitalization
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. First Federal Savings Bank (IL) has $372.85 million in assets with $39.1 million in equity, resulting in a capitalization level of 10.49%, which is above average.
Institution Statistics
| Overall | |
|---|---|
| FDIC Certificate # | 28924 |
| Year Established | 1889 |
| Employees | 115 |
| Primary Regulator | OCC |
| Assets and Liabilities | |
|---|---|
| Assets | $372.85 million |
| Loans | $283.76 million |
| Deposits | $328.71 million |
| Equity Capital | $34.44 million |
| Loan Loss Allowance | $4.66 million |
| Unbacked Noncurrent Loans | $4.46 million |
| Real Estate Owned | $2.58 million |
| Historic Data - September 2012 | |
|---|---|
| Assets | $382.29 million |
| Equity Capital | $32.44 million |
| Loan Loss Allowance | $5.50 million |
| Unbacked Noncurrent Loans | $4.46 million |
| Real Estate Owned | $5.97 million |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 3.12% |
| Return on Assets | 0.78% |
| Return on Equity | 8.96% |
| Interest Income | $9.88 million |
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First Federal Savings Bank (IL) has 12 locations. Click to view all First Federal Savings Bank (IL) locations.