4 star ratingAverage User Rating:
4 star rating based on 1 review.

Morton Community Banks

Morton Community Banks Locations
721 West Jackson Street
Morton, IL 61550
(309) 266-5337
www.hometownbanks.com

Morton Community Banks is headquartered in Morton and is the 10st largest bank in the state of Illinois. It is also the 260th largest bank in the nation. It was established in 1961 and as of September of 2011, it had grown to 377 employees at 32 locations. Morton Community Banks' savings rates are 92% higher than the national average, and it has a 3-star health rating.

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$10K Cap High-Yield Reward Checking Account At Morton Community Bank In IL (Forum) - 11/15/2010

Morton Community Bank has a reward checking account called Pot O' Gold Checking. It used to pay a 1.51% APY on balances up to $100K. The good news is that this went up to 3.01% APY. The bad news is the cap fell to $10K. Here are the latest rates and cap a



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

Morton Community Banks Checking Account Rates

ApyMinMaxProduct
2.51%-$10kPot O' Gold Checking
0.24%$15k-Interest Checking

Morton Community Banks Savings Account Rates

ApyMinMaxProduct
1.00%--Health Savings Account
0.25%--Christmas Club
0.10%$100-Regular Passbook Savings

Morton Community Banks Money Market Rates

ApyMinMaxProduct
0.41%$25k-Prime Money Market
0.10%$10k-Money Market
0.10%--Money Market IRA

Morton Community Banks CD Rates

ApyMinMaxProduct
2.07%$100k-10 Year CD
1.32%$100k-5 Year CD
0.82%$1k$100k48 Month CD
0.64%$100k-36 Month CD
0.61%$100k-7 Month CD Special
0.40%$100k-24 Month CD
0.32%$100k-18 Month CD
0.26%$100k-12 Month CD
0.24%$100k-9 Month CD
0.21%$100k-6 Month CD
0.17%$100k-3 Month CD

Morton Community Banks IRA Rates

ApyMinMaxProduct
2.07%$100k-10 Year IRA
1.42%$100k-5 Year IRA
1.42%$100k-5 Year IRA Special
0.88%$100k-48 Month IRA
0.64%$100k-36 Month IRA
0.40%$100k-24 Month IRA
0.32%$100k-18 Month IRA
0.26%$100k-12 Month IRA

Rates updated: 2/11/2012

Data for Q3 2011


Institution Statistics


Morton Community Bank
FDIC Certificate #18429
BankRate ReportView
Year Established1961
Employees377
Primary RegulatorFED

Assets and Liabilities

Assets$2.71 billion
Loans$1.55 billion
Deposits$2.11 billion
Equity Capital$256.12 million
Loan Loss Allowance$27.90 million
Unbacked Noncurrent Loans$52.42 million
Real Estate Owned$9.23 million

Historic Data - September 2010

Assets$2.73 billion
Equity Capital$221.88 million
Loan Loss Allowance$25.42 million
Unbacked Noncurrent Loans$26.00 million
Real Estate Owned$8.68 million

Profit Margin - Quarterly

Net Interest Margin3.08%
Return on Assets1.48%
Return on Equity15.91%
Interest Income$85.47 million

Institution Health


Overall Score:
3 out of 5
3
Texas Ratio3
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, 2011 Morton Community Banks had $61.66 million in non-current loans and owned real-estate with $284.02 million in equity and loan loss allowances on hand to cover it. This gives Morton Community Banks a Texas Ratio of 21.71% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Morton Community Banks held steady from 23.82% as of September 30, 2010 to 21.71% as of September 30, 2011, resulting in a positive change of 8.88%.This indicates that the balance sheet and financial strength for Morton Community Banks has held steady in recent periods.
Deposit Growth2
In the past year, Morton Community Banks has decreased its total deposits by -$83.11 million, resulting in -3.8% 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 Morton Community Banks has shown is below average.
Capitalization4
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. Morton Community Banks has $2.71 billion in assets with $284.02 million in equity, resulting in a capitalization level of 10.49%, which is above average.
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Morton Community Bank--Worth The Drive
4 stars - tomlawler - Tuesday, June 22, 2010 - 4:22 PM

Morton Community Banks has nearly 30 locations.  I drove to their Toluca branch in April for their 10-year CD.  My account rep, Roanna, was extremely helpful.  Back then I got 4.00%.  The rate has since dropped to 3.70%, but still worth it.  Because I had already been there before, I was able to call Roanna on the phone last week to set up a second CD.  I mailed the check to her attention and she did the rest.  I like the small town atmosphere and the helpful, sincere people that work there.  I would recommend Morton as a place to invest in longer term CDs.

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