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124 South Main Street
Flanagan, IL 61740

Flanagan State Bank is headquartered in Flanagan and is the 243rd largest bank in the state of Illinois. It is also the 3,424th largest bank in the nation. It was established in 1913 and as of June of 2014, it had grown to 56 employees at 6 locations. Flanagan State Bank has a A health rating.

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Reviews (2)

Horrible Experience!

We chose Flanagan State Bank to refinance our mortgage. Everything seemed to be going great, except for after the closing. We had switched insurance companies and the person we were working with, Victor Arreola, was very aware that we had switched. He had even spoke to our new insurance company. Victor promised the new insurance company that they would be cut a check at closing. This never happenned. Victor never returned my emails or my calls. Flanagan State Bank sells their mortgages to Bank of America, which in itself isn't a problem, but when they take no ownership for the mistake they made that is when there is a huge problem. The least we could have got was a sorry we screwed up letter or phone call. Now we are stuck paying our premium for our homeowners ourselves, when we are also paying for it in escrow each month. Horrible customer service and I will never be doing business with them again!


I got a vehicle loan throught Flanagan Bank and everything went great until the final payoff.  My payments were under two hundred dollars, when I went to pay the final payment I was told that my balance was just over $450.  I was then told that I missed payments and there was some interest added on.  When I called to try and figure it out with them they were very unprofessional about it.  I was threatened that they were going to get an attorney because I ask a simple question of when the payment was missed.  If you are thinking about banking with Flanagan State Bank, do yourself the favor and find a different bank. 


Data for Q2 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 June 30, 2014 Flanagan State Bank had $1.36 million in non-current loans and owned real-estate with $16.74 million in equity and loan loss allowances on hand to cover it. This gives Flanagan State Bank a Texas Ratio of 8.13% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Flanagan State Bank decreased slightly from 10.00% as of June 30, 2013 to 8.13% as of June 30, 2014, resulting in a positive change of 18.69%.This indicates that the balance sheet and financial strength for Flanagan State Bank has improved slightly in recent periods.

Deposit Growth


In the past year, Flanagan State Bank has increased its total deposits by $7.72 million, resulting in 5.52% 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 Flanagan State Bank has shown is excellent.



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. Flanagan State Bank has $167.99 million in assets with $16.74 million in equity, resulting in a capitalization level of 9.97%, which is above average.

Institution Statistics

FDIC Certificate #11734
Year Established1913
Primary RegulatorFDIC
Assets and Liabilities
Assets$167.99 million
Loans$95.35 million
Deposits$147.57 million
Equity Capital$15.63 million
Loan Loss Allowance$1.12 million
Unbacked Noncurrent Loans$850,000
Real Estate Owned$511,000
Historic Data - June 2013
Assets$154.83 million
Equity Capital$14.33 million
Loan Loss Allowance$1.08 million
Unbacked Noncurrent Loans$850,000
Real Estate Owned$614,000
Profit Margin - Quarterly
Return on Assets0.83%
Return on Equity9.2%
Interest Income$2.94 million

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Flanagan State Bank Savings Account Rates

0.55%$100-Variable IRA
0.55%$100-Variable Roth IRA
0.55%$100-Variable CESA
0.55%$100-Variable SEP IRA
0.50%$25-HSA Checking
0.50%-$10kKasasa Saver - Qualifying
0.13%$1k-Gold Passbook Savings
0.10%$50-Savings Account
0.05%--Kasasa Saver - Non Qualifying

Flanagan State Bank Money Market Rates

0.45%$50k-Super Money Market
0.10%$2,500-Money Market Account

Flanagan State Bank Checking Account Rates

2.25%-$10kKasasa Cash - Qualifying
0.15%$2,500-Super NOW Checking
0.10%$1k-NOW Checking
0.05%--Kasasa Cash - Non Qualifying

Flanagan State Bank CD Rates

1.51%$1k-5 Year CD
1.00%$1k-3 Year CD
0.58%$5k-30 Month CD
0.50%$1k-2 Year CD
0.45%$25k-1 Year CD
0.45%$5k-18 Month CD
0.45%$5k-2 Year Variable CD
0.25%$5k-9 Month CD
0.15%$1k-182 Day CD
0.10%$10k-30 Day CD
0.10%$5k-91 Day CD

Flanagan State Bank IRA Rates

1.56%$500-5 Year IRA
1.05%$500-3 Year IRA
0.55%$500-2 Year IRA
0.40%$500-1 Year IRA

Flanagan State Bank Locations
Elpaso Branch111 North Fayette StreetEl Paso, IL 61738
Flanagan State Bank124 South Main StreetFlanagan, IL 61740
Bloomington Branch2401 East Washinton StreetBloomington, IL 61704
Benson Branch403 State StreetBenson, IL 61516
Gridley Il Branch411 North Center StreetGridley, IL 61744
Leroy Branch500 S Persimmon StLe Roy, IL 61752