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Overview / Commentary
353 Bank Drive
Mchenry, IL 60050

McHenry Savings Bank is headquartered in Mchenry and is the 160th largest bank in the state of Illinois. It is also the 2,440th largest bank in the nation. It was established in 1955 and as of June of 2014, it had grown to 69 employees at 3 locations. McHenry Savings Bank has a C- health rating.

Reviews (2)

Use Caution When Selecting This Bank

McHenry Savings Bank has more than money problems, they have ethical problems as well. I spent almost three years fighting them in court for taking money out of my savings account (well into five figures). They used every excuse in the book to defend their actions. I finally got my money back and they had to pay all my attorney fees (about $10k), as well as their attorney fees (which by the way they went through 4 different attorney offices because they kept quitting). We found out a lot about them in the process and also discovered that I wasn't the only one suing them for unethical and illegal activity. I recently learned about the FDIC threatening them to raise capital, or they'll be shut down; I guess that would explain their need to steal money. Stay away from this bank - I selected one star for this bank only because the system made me. They don't deserve any stars.

Loan Department

The Loan Department is very hard to work with.


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 McHenry Savings Bank had $10.85 million in non-current loans and owned real-estate with $10.35 million in equity and loan loss allowances on hand to cover it. This gives McHenry Savings Bank a Texas Ratio of 104.84% which is poor. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for McHenry Savings Bank experienced no significant changes from 107.34% as of June 30, 2013 to 104.84% as of June 30, 2014, resulting in a positive change of 2.33%.This indicates that the balance sheet and financial strength for McHenry Savings Bank has had no significant changes in recent periods.

Deposit Growth


In the past year, McHenry Savings Bank has increased its total deposits by $16.3 million, resulting in 7.29% 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 McHenry Savings 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. McHenry Savings Bank has $263.59 million in assets with $10.35 million in equity, resulting in a capitalization level of 3.93%, which is poor.

Institution Statistics

FDIC Certificate #30864
Year Established1955
Primary RegulatorFDIC
Assets and Liabilities
Assets$263.59 million
Loans$153.73 million
Deposits$239.89 million
Equity Capital$7.63 million
Loan Loss Allowance$2.72 million
Unbacked Noncurrent Loans$5.78 million
Real Estate Owned$5.07 million
Historic Data - June 2013
Assets$246.10 million
Equity Capital$7.36 million
Loan Loss Allowance$3.39 million
Unbacked Noncurrent Loans$5.78 million
Real Estate Owned$5.95 million
Profit Margin - Quarterly
Return on Assets0.33%
Return on Equity13.14%
Interest Income$4.60 million

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McHenry Savings Bank Locations
10520 North Main St Branch10520 North Main StreetRichmond, IL 60071
Mchenry Savings Bank353 Bank DriveMchenry, IL 60050
4000-M N. Wilmot Road Branch4000-M N. Wilmot RoadMchenry, IL 60051